American Battery Solutions ESS Division Completes Spin Out, Establishes American Energy Storage Innovations, Inc.

The new independent company charts enormous success with industry  leader Bud Collins at the helm. 

[BOSTON, MA and DETROIT, MI – 11 September 2023] – 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) TeraStor^TM, please visit booth  13100 at the RE+ exhibition or visit https://www.aesi-ess.com.