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4w ago

EnerVenue Raises $300 Million, Names New CEO, Plans Hong Kong Hub to Scale Nickel-Hydrogen Batteries

The deal underscores rising investor confidence in long‑duration, non‑lithium batteries for large energy loads.

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The extension round was led by Full Vision Capital and included a new investor. EnerVenue stated that the funding will aid in the fast expansion of its high-volume manufacturing facilities in Changzhou, China. Image: EnerVenue
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EnerVenue’s new CEO Henning Rath is a veteran technology executive with a track record of building billion-dollar energy businesses. Photo: Handout

Overview

  • EnerVenue, which announced the raise Tuesday, closed a $300 million Series B extension led by Full Vision Capital with Hong Kong Investment Corporation participating.
  • Henning Rath was appointed CEO and said the funds will drive R&D, ramp large‑scale manufacturing, strengthen the supply chain, and expand global sales.
  • The company said it will set up a regional headquarters and an R&D center in Hong Kong to support hiring and growth across Asia.
  • EnerVenue plans to expand high‑volume manufacturing in Changzhou, targeting a 250 MWh line by 2026 as a step toward gigawatt‑scale capacity.
  • The startup develops nickel‑hydrogen grid batteries that it says offer decades‑long life, high‑heat tolerance, and deep discharge, with UL1973 certification and UL9540A testing passed, and early pilots with utilities including RWE and Towngas.