American Battery Solutions Inc. (ABS) Company Profile

Background

American Battery Solutions Inc. (ABS), established in 2019, specializes in the design and manufacture of advanced lithium-ion battery systems for commercial, fleet, and industrial on- and off-road vehicles. Headquartered in Michigan, with additional facilities in Ohio, ABS aims to serve underserved segments of the industrial vehicle markets by leveraging a team of battery systems experts with decades of experience in designing, developing, and manufacturing advanced battery systems for the transportation industry. The company's mission is to provide safe, innovative, and affordable energy storage solutions to power the world.

Key Strategic Focus

ABS focuses on delivering modular battery solutions tailored for transportation, industrial, and commercial markets, primarily in North America and Europe. The company's core objectives include:

Product Development: Launching innovative products into transit bus, electric light commercial vehicle (eLCV) delivery van, recreational boating, lawn maintenance, medium and heavy-duty trucking, and material handling equipment markets.

Technological Advancement: Developing custom battery systems for the construction, mining, and forestry industries, serving as the center of excellence for Komatsu.

Market Expansion: Continuing to operate as an independent entity while expanding and growing its core commercial, fleet, and industrial business.

Financials and Funding

In 2019, ABS secured a $50 million committed investment from KCK Group, a principal investment firm with global offices. This funding facilitated the acquisition of high-voltage manufacturing and testing assets from Robert Bosch Battery Systems, including a 170,000 sq. ft. manufacturing facility in Springboro, Ohio. In December 2023, ABS was acquired by Komatsu, a global leader in construction, mining, forestry, and industrial heavy equipment, aligning with Komatsu's 2050 carbon neutrality goal.

Pipeline Development

ABS has developed and launched several key products:

Alliance Intelligent Battery Series™: A low-voltage lithium-ion battery line offered in 24V and 48V configurations, suitable for light electric vehicles and industrial equipment.

Proliance Intelligent Battery Series™: A high-voltage battery line, with the first product being a 350V-50kWh pack targeted for fleet and commercial vehicles.

TeraStor™: An ultra-high-density battery energy storage platform designed for large-scale energy storage projects, offering more than 7.2 MWh of storage and 3.5 MW of integrated inverter capacity.

Technological Platform and Innovation

ABS distinguishes itself through several proprietary technologies and methodologies:

Slide-in Modular Battery Architecture: A chassis-integrated design accommodating multiple, slide-in, field-replaceable modules.

Unique Contact Plate Design: A laminated multi-layer contact plate consolidating all conductors in one assembly, spanning an entire battery module.

High-Speed Laser Welding Manufacturing: Optical targeting and innovative assembly fixtures providing significant tolerance take-up to enable reliable, high-speed welds and reduce manufacturing costs.

Battery Management System and Algorithms: Techniques applicable to multiple systems and applications.

Leadership Team

ABS's leadership comprises seasoned professionals with extensive experience in the battery industry:

Subhash Dhar: Founder, Chairman & CEO. A longtime innovator and industry leader in energy storage development and commercialization.

Dr. John Warner: Chief Customer Officer. Brings decades of experience in battery systems and customer relations.

Ivan Menjak: Vice President, Business Development. Focuses on expanding ABS's market presence and strategic partnerships.

Arun Kumar: Director, Electronics. Leads the development of electronic systems within ABS's battery solutions.

Leadership Changes

In September 2023, ABS spun out its Energy Storage Solutions Division to create a new, independent company: American Energy Storage Innovations, Inc. (AESI). Bud Collins, a highly respected industry leader with over 35 years of experience, was appointed CEO of AESI.

Competitor Profile

Market Insights and Dynamics

The electric vehicle (EV) market is projected to reach $1.1 trillion in sales by 2028, with the construction, agriculture, and mining markets expected to surpass $100 billion by 2029. This growth is driven by decreasing lithium-ion battery costs, enabling solid business cases in these applications.

Competitor Analysis

Key competitors in the battery solutions market include:

LG Energy Solution: Focuses on high-capacity lithium-ion batteries for various applications.

Panasonic: Provides battery solutions for automotive and industrial sectors.

Samsung SDI: Offers a range of battery products for electric vehicles and energy storage systems.

Northvolt: A European manufacturer specializing in sustainable battery solutions.

These companies emphasize technological innovation, scalability, and strategic partnerships to strengthen their market positions.

Strategic Collaborations and Partnerships

ABS has engaged in significant collaborations to enhance its market position:

Komatsu Acquisition: In December 2023, ABS was acquired by Komatsu, aligning with Komatsu's 2050 carbon neutrality goal and expanding ABS's reach into the construction and mining equipment sectors.