BOSTON and DETROIT, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Today, just ahead of the RE+ exhibition, American Battery Solutions, Inc. (ABS) is pleased to announce the spin-out of its Energy Storage Solutions Division (ABS-ESS) to create a new company: American Energy Storage Innovations, Inc. (AESI). This strategic move represents a significant milestone in the evolution of energy storage technology and underscores ABS’ commitment to driving innovation within the industry.
ABS was founded just four years ago by Subhash Dhar, a venerable 40-year battery industry veteran, and has consistently led the charge to advance cutting-edge energy storage technologies. Dhar, who remains actively engaged as a board member of the new venture, emphasized, "We nurtured and honed the unique potential embodied by TeraStor when we established the ESS Division, announced publicly just last year. Today, we fully recognize its potential, and are exhilarated to witness the autonomous ascent of AESI."
AESI (RE+ exhibitor booth 13100) will operate as a fully independent company, enjoying the continued support, confidence and backing of ABS' longstanding investors, the KCK Group. With an unwavering commitment to 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.
The board of directors made the strategic decision to establish AESI as a distinct corporation, recognizing the incredible potential of the team’s groundbreaking technology and the immense growth opportunities on the horizon. By focusing exclusively on energy storage innovation, AESI will be better equipped to respond to the evolving demands of the market, accelerate technological advancements and drive the transition to sustainable energy solutions.
AESI will be helmed by Bud Collins, a highly respected industry leader with over 35 years of experience in developing and implementing power, energy and energy management solutions. Under his direction, AESI will draw upon the expertise of the same management team and technical experts who have played pivotal roles in ABS-ESS since its establishment in 2021. This core team of industry veterans has a longstanding working relationship with Collins, having collaborated at multiple companies, and together they have collectively overseen the successful execution of more than 1.5 gigawatt-hours of energy storage projects over the past 15+ years, worldwide.
What sets AESI apart is its inheritance of the extensive resources and capabilities developed within ABS-ESS, coupled with a dedicated institutional focus on pioneering energy storage technologies. AESI is committed to pushing the boundaries of innovation in energy storage and remains steadfast in its mission to drive sustainability and usher in a new era of energy solutions.
"We are thrilled to embark on this new journey as American Energy Storage Innovations," said Collins, CEO of AESI. "Our team's collective expertise and dedication to innovation will allow us to build on the strong foundation we created as ABS-ESS and make a significant impact on the energy storage industry. With the continued support of the KCK Group, we are poised to achieve remarkable success in shaping the future of energy storage technology."
This announcement marks a successful exit for ABS-ESS and represents a pivotal moment in the energy storage industry, signaling a commitment to innovation and sustainability. As AESI begins its journey as an independent company, it remains dedicated to pushing the boundaries of what is possible in energy storage, driving the global energy transition to new heights.
For more information on AESI and the 7.2 MWh (300MWh/acre) TeraStorTM, please visit booth 13100 at the RE+ exhibition or visit https://www.aesi-ess.com.
About American Energy Storage Innovations, Inc.
AESI is a pioneering provider of advanced energy storage solutions. The company designs, develops and manufactures cutting-edge systems, empowering customers to harness the full potential of renewable energy and optimize energy management. With a steadfast commitment to value, reliability, sustainability and innovation, the AESI team of industry veterans aims to revolutionize the energy storage landscape.
Contact
AESI Media Relations
American Energy Storage Innovations, Inc.
2 Cabot Road, Hudson, MA 01749 USA
media@aesi-ess.com
