The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

American Battery Solutions and Eve in 5GWh annual LFP cell partnership


American Battery Solutions has partnered with lithium-ion battery manufacturer Eve Energy to procure 5GWh of LFP lithium-ion cells a year for its TeraStor platform.

The master supply agreement (MSA) will see American Battery Solutions (ABS ESS) procure 5GWh of lithium iron phosphate (LFP) battery cells from China-based Eve for its grid-scale energy storage system (ESS) platform. TeraStor was launched last year, reported by at the time.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

It will help ABS ESS to deploy its 30GWh of targeted projects over the next three years. The company was formed in 2018 with the acquisition of the manufacturing and testing assets from Robert Bosch Battery Systems, funded by investor KCK Group. ABS ESS also serves the EV market.

It has a 16,000 square metre facility in Ohio, inherited from the Robert Bosch deal, which has been assembling lithium-ion battery packs for the EV sector since 2009.

“Our collaboration has been in progress for the past year, with an initial agreement reached in Q4 of 2022,” said Steven Chen, Vice President of EVE Energy Co. Ltd. “Extended warranty terms were finalized in Q1 of 2023, and we are very happy to announce this partnership now.”

Rick Cwiakala, VP operations for ABS ESS, added: “Through this strategic partnership and MSA, we are well-positioned to meet much of the growing demand for the TeraStor and for our additional forthcoming systems that are purpose-built for execution of further energy storage scenarios”.

Eve Energy is a Tier 2 battery supplier according to a Benchmark Mineral Intelligence ranking from 2022. Tier 1 companies including CATL, LG Chem, Samsung SDI, BYD and European firm Northvolt.

The deal with ABS ESS was Eve’s second big offtake agreement announced last week – when the industry convened at Ees Europe 2023 in Munich, Germany – after it committed to providing system integrator Powin with 10GWh of batteries for projects around the world.

22 October 2024
New York, USA
Returning for its 11th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
18 March 2025
Austin, Texas
The Energy Storage Summit USA is the only place where you are guaranteed to meet all the most important investors, developers, IPPs, RTOs and ISOs, policymakers, utilities, energy buyers, service providers, consultancies and technology providers in one room, to ensure that your deals get done as efficiently as possible. Book your ticket today to join us in 2025!

Read Next

July 23, 2024
The US Department of Energy has issued a loan of up to US$861.3 million to support 200MW solar PV and 285MW/1,140MWh BESS in Puerto Rico.
July 23, 2024
The CPUC has proposed the procurement of over 10GW of new energy resources, including 1GW of multi-day long-duration energy storage (LDES) and another 1GW of 12-hour-plus LDES.
July 22, 2024
Italian renewables company Redelfi has launched an energy storage development platform in the US, while US investor Bluestar Energy Capital has entered the European market.
July 22, 2024
In this Q&A, Enel North America CEO Paolo Romanacci discusses the IPP’s operational BESS projects, pipeline and deployments as well as his views on wider US industry challenges.
July 22, 2024
System integrator Ameresco has completed and put into commercial operation eight battery energy storage system (BESS) projects for utility United Power in Colorado, US.

Most Popular

Email Newsletter