Microvast Received Two Awards in 2016 FT/IFC Transformational Business Awards Event

LONDON, UK, June 09, 2016 -The Financial Times and IFC, a member of the World Bank Group, have announced Microvast asthe winnerof two awards of“Achievement in Low-Carbon Urban Transformation” and “Excellence in Transformational Business”duringthe 2016 FT/IFC Transformational Business Awards Ceremony and Conference.FT/IFC Transformational Business Awards is the unique global programme that highlights ground-breaking, long-term private sector solutions to key development issues, focuses on the challenges around climate change, particularly in rapidly growing urban areas, with an emphasis on the capital, technology and innovation required for substantive progress. This year, a total of 155 entries were received from 219 organizations involving projects in 92 countries.

The Award of “Achievement in Low-Carbon Urban Transformation” that Microvast was rewarded highlights innovative projects and transactions that address challenges around energy demand and supply, environmental decay and other climate change-related issues in developing economies, with a focus on urban areas. In the end of the ceremony, Microvast also received the award of “Excellence in Transformational Business”, which is a special award for the winner of the winners.

Mr. Yang Wu, CEO of Microvast, Inc. receive the awards in the ceremony

Mr. Yang Wu, CEO of Microvast, Inc. addressed during the ceremony, “I am so surprised to receive two awards tonight. With our passion and enthusiasm, Microvast hasspent 10 years in research and development in advanced Li-ion battery systems for electric vehicles. We are very proud that our achievement has been recognized today. Please take a ride on any of the 1,000 double decker buses on the street of London tomorrow that is using our battery technology, enjoy it, and take it!”

Mr. Yang Wu, CEO of Microvast, Inc. had a speech in the ceremony

As one of the most impactful awards in the industry, the selection of Transformational Business Awards was primarily based on the innovation of technology and its applications.In the final selection of nominees, Microvast was competing with projects such as Electric Airship, Hydraulic energy storage, and micro photography satellite made by the NASA. Microvast has been dedicated in research and development for years.  It shows the primacy and uniqueness of Microvast’s advanced technology.

As an advanced electric vehicle power solution provider, Microvast is strategically implementing electric vehicles by following its Clean City Transit (CCT) plan with its ultra-fast charging, long life, and safe battery technology.Based primarily in China, Microvast have developed, manufactured and sold battery power systems to 10,000 electric buses in over 100 cities across China and four European countries. Microvast truly deserves these awards because of itsrevolutionarytechnology and the innovative business model.

About Microvast
Founded in 2006, Microvast is a fast-growing and profitable market leader in the design, development and manufacturing of ultra-fast charging, long life battery power systems for electric vehicles. Microvast was founded with a vision to solve the current key constraints in electric vehicle development and to redesign electric vehicle power systems to the mass adoption of electric vehicles. In March 2016, Microvast announced its non-flammable battery technology, which highly improved the safety standard of electric vehicles.

About Clean City Transit
Clean City Transit plan, or the CCT plan, is Microvast’s primary business strategy. The CCT plan aims to assist in the electrification of urban transportation systems by progressively introducing Microvast’s power battery systems, first to city buses, then to taxis and finally to passenger cars.

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