Microvast Holdings, Inc. ( MVST ) stock is moving higher on Friday after it announced a breakthrough in the company’s True All-Solid-State Battery (ASSB) technology.

The Details: Microvast’s breakthrough in ASSB technology improves battery safety, energy capacity, and efficiency, which is important for applications such as backup power for data centers and electric school buses.

Microvast ( MVST ) explained that traditional batteries can usually operate at voltages of 3.2V to 3.7V per cell due to the limitations of liquid electrolytes. However, the company said its new technology eliminates liquid electrolytes and allows for a single cell to achieve dozens of volts.

“By developing a technology that eliminates liquid electrolytes and prioritizes scalability, we are well-positioned to meet the evolving needs of industries requiring reliable and safe energy storage solutions,” said Yang Wu, CEO of Microvast ( MVST ).

The company is advancing to the pilot production phase, where it will address manufacturing challenges to deliver its ASSB technology.

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MVST Price Action: Microvast ( MVST ) shares are trading 33.7% higher at $2.50 as of Friday morning, according to data from Benzinga Pro.

Image: 1836990 from Pixabay.