ESB Scotland Signs Three Letters of Intent for Projects Utilizing American Energy Storage Innovations’ TeraStor
ESB Scotland Signs Three Letters of Intent for Projects Utilizing American Energy Storage Innovations’ TeraStor
[BOSTON, MA and ANAHEIM, CA – 11 September 2024] Today at the RE+ clean energy conference, American Energy Storage Innovations, Inc. (AESI, RE+ expo booth N90001), leading provider of ultra-dense, safe, efficient and reliable grid-scale battery energy storage systems (BESS), announced a strategic decision to open its next manufacturing facility in Malaysia by Q4 2025. This move enables AESI to maintain its commitment to delivering optimal return on investment (ROI) for its customers, while minimizing the risks of dynamic tariffs and geopolitical conditions.
The decision to build manufacturing capabilities in Malaysia considers additional tariffs on material sourced from China and the lack of a committed supply chain for a 100% US-manufactured BESS. By shifting production to this new facility, AESI ensures customers will continue to receive top-quality products at the most competitive prices.
“This option guarantees AESI customers will enjoy the best value at the best cost,” said Bud Collins, CEO of AESI. “While others may be burdened by the economic limitations of their BESS production plans, we’re ensuring faster payback and superior ROI for our customers — with no compromise on quality.”
The new facility will also adhere to AESI’s stringent standards and ethical manufacturing practices across the supply chain, in line with AESI’s continued dedication to its customers and the global community.
In parallel, AESI has also expanded its Master Supply Agreement (MSA) with EVE Energy (EVE). The updated agreement, covering ~ 20 GWh of cells over three years, will support AESI’s increasing needs. “Our collaboration with EVE allows us to meet the growing demand for TeraStor and ensure our customers benefit from reliable, high-performance BESS at a price point that maximizes their project returns,” said Rick Cwiakala, Vice President of Operations at AESI.
“We’re proud to support AESI as they scale production and continue delivering unmatched value to their customers,” said Steven Chen, Vice President of EVE Energy Co. Ltd. “Together, we’re pushing the boundaries of innovation in the energy storage market.”
