"EnerVenue has raised $300 million in a Series B extension led by Full Vision Capital, bringing the company's total funding to $445 million. This funding will support the scale-up of its non-lithium metal-hydrogen energy storage systems at a factory in Changzhou, China, with ambitions to reach gigawatt-scale production capacity."
"The company's batteries use a water-based electrolyte rather than the flammable organic solvents found in lithium-ion systems, which eliminates fire risk and allows them to operate across a temperature range of -40 to 50 degrees Celsius."
"The pitch is less about raw energy density and more about longevity and total cost of ownership, positioning EnerVenue's technology as a viable alternative to lithium-ion batteries."
EnerVenue, a California startup, has raised $300 million to scale up nickel-hydrogen battery production for terrestrial energy storage. The funding will support manufacturing at a factory in Changzhou, China, aiming for gigawatt-scale capacity. The company appointed Henning Rath as CEO and plans to establish a regional headquarters in Hong Kong. EnerVenue's batteries utilize a water-based electrolyte, eliminating fire risks and allowing operation in extreme temperatures. The focus is on longevity and total cost of ownership rather than raw energy density, positioning the technology as a viable alternative to lithium-ion batteries.
Read at TNW | Battery
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