American Battery Solutions Acquires The Entire Ip Portfolio Developed By Battery Systems Innovator, Tiveni Inc.

American Battery Solutions, Inc. ("ABS"), a leading developer and manufacturer of advanced battery systems for electrified mobility, announced today that it has signed a definitive agreement to acquire the complete IP portfolio of Tiveni, Inc., a battery systems innovator founded and led by original Tesla founder/CEO Martin Eberhard. The addition of Tiveni developed technologies will accelerate ABS' deployment of low-cost, energy-dense, highly-crash-tolerant EV batteries. The acquisition includes a supporting patent portfolio protecting the cost/density/safety advantages included in Tiveni's designs. Financial terms of the acquisition were not disclosed by mutual agreement.