new hire

Houston area battery company names new C-level leader

Stafford-based Microvast named Yaser Ali as CFO. Photo via LinkedIn

Houston-based battery technology innovation company, Microvast Holdings, announced the appointment of Yaser Ali as CFO. This is part of Microvast's efforts to strengthen its executive leadership team.

Ali most recently served as CFO of Vision Technologies since August 2022. He also previously held leadership finance roles at companies such as BayWa-R.E Solar and GreenFox Services. He was also a Regional Finance Controller at Amazon.

“I’m happy to share that I’m starting a new position as Chief Financial Officer at Microvast,” Ali said on his LinkedIn. ”Renowned for its cutting-edge cell technology and vertical integration capabilities, Microvast covers core battery chemistry to modules and packs, serving markets such as electric vehicles, energy storage, and battery components.”

Microvast considers itself a leader in the innovation and technology of lithium-ion batteries through the design, development, and manufacture of premier battery cells, modules, and packs for transportation, heavy equipment, and utility-scale energy storage systems.

The Staffford-based Microvast has also recently drawn $12 million from a $25 million secured debt facility provided by the company's founder, chairman, and CEO Yang Wu. The move helps streamline operations, including workforce reductions and consolidations within its U.S. battery division.

Recently, Microvast celebrated four years supplying its high-performance battery packs to eversum mobility solutions GmbH ("eVersum”), which helps support the company’s goals of electrification of next-generation autonomous eShuttle buses from eVersum. The batteries helped enhance “the accessibility and convenience of eShuttle buses while maintaining high performance and efficiency” according to a news release.

Microvast, which is headquartered just southwest of Houston in Stafford, has a market capitalization of $125.16 million, according to InvestingPro.

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A View From HETI

Ric Campo says Port Houston is “moving in the right direction.” Photo via Getty Images.

Port Houston’s initiatives to reduce emissions have shown some positive results, according to new data from the Port of Houston Authority.

Pulling from the Goods Movement Emissions Inventory (GMEI) report, which tracks port-related air emissions, Port Houston cited several improvements compared to the most recent report from 2019.

The port has seen total tonnage and container volumes increase by 16 percent and 28 percent, respectively, since 2019. However, greenhouse gas emissions have increased at a slower rate, growing only by 10 percent during the same time period, according to the data.

Additionally, emissions of nitrogen oxide fell by 7 percent, and emissions of particulate matter fell by 4 percent, despite adding 280 more pieces of cargo handling equipment.

“These results show that our emission-reduction efforts are working, and we are moving in the right direction,” Chairman Ric Campo said in a news release.

The Port Commission also recently approved items related to the $3 million U.S. Environmental Protection Agency Clean Ports Program (CPP) grant, which it received last year. The items will allow the port to work towards five new sustainability initiatives.

They include:

  1. An inventory of the port’s Scopes 1, 2, and 3 for greenhouse gas emissions
  2. A Port Area Climate Action Plan for the area and surrounding communities
  3. A CPP Truck Route Analysis
  4. Creation of the CPP Trucking Industry Collaborative
  5. Design of a customized website for Port of Houston Partners in Maritime Education, which is a non-profit leading maritime workforce development effort in local schools.

Port Houston aims to be carbon neutral by 2050.

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This article originally appeared on our sister site, Innovation Map.

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