American Battery Solutions, Inc. spins out ESS division

The move enables strategic growth of ABS' Mobility and ESS businesses with better alignment to market.

LAKE ORION, Mich., Sept. 11, 2023 /PRNewswire/ -- American Battery Solutions (ABS) announced today the spinout of its Energy Storage Solutions Division to create a new, independent company: American Energy Storage Innovations, Inc. (AESI). This strategic move represents a significant milestone in the evolution of the ABS business and underscores the commitment of ABS to driving innovation within the industry.

The strategic decision to spin out the ESS business will enable both the Mobility and the ESS segments of ABS to target specific growth strategies by aligning the investments, resources, and customers in the most optimal way to drive shareholder value, recognizing the unique value propositions of each business.

While the AESI will operate as a distinct entity, recognizing the incredible potential of the groundbreaking technology and the immense growth opportunities on the horizon, ABS will continue providing the leading battery system solutions for commercial & industrial mobility and off-road sector, capitalizing on tremendous growth opportunities and executing on large supply contracts with leading bus, truck, RV and delivery vehicle programs.

AESI will operate as a fully independent company, enjoying the continued support and backing of ABS' long-standing investors, the KCK Group. With a vision of revolutionizing energy storage, AESI is poised to take center stage in the global energy transition and is set to redefine the future of energy storage technology.

ABS Founder and CEO, Subhash Dhar, said "This transition demonstrates achievement of a major milestone through the skills and expertise of both teams and will help to accelerate the growth of each. ABS and AESI have very different products and customers, this transition will allow both to focus on their respective markets."

ABS will be exhibiting their line of low voltage Alliance Intelligent Battery Series ™ and high voltage Proliance Intelligent Battery Series ™ energy storage systems at The Battery Show 2023 in Novi, Michigan from September 12 – 14 (Booth #2105).

About American Battery Solutions

ABS designs and manufactures modular battery solutions for transportation, industrial and commercial markets primarily in North America and Europe. The team at American Battery Solutions Inc. includes some of the most recognized battery systems experts in the industry, possessing decades of experience in designing, developing, and manufacturing high-volume advanced battery systems. Our experts are now applying this experience to the emerging and rapidly growing transportation segments, concentrating on module production, pack assembly, and customer integration.

ABS operates a 120,000 sq. ft. technical center in Michigan and a dedicated 170,000 square foot purpose-built state of the art battery manufacturing facility in Ohio. It employs more than 165 people in Michigan, Ohio, and Massachusetts. Follow ABS on Twitter @ABS_Energy and on LinkedIn.

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SOURCE American Battery Solutions, Inc.