EnerVenue

Develops and sells nickel-hydrogen batteries

Fremont, California, United States

About EnerVenue

EnerVenue develops and sells nickel-hydrogen batteries for energy storage, focusing on the renewable energy market. Their batteries are designed to store energy efficiently and reliably, making them suitable for utility companies, industrial firms, and large-scale renewable projects. The nickel-hydrogen technology used in their batteries is known for its durability and long lifespan, providing a sustainable alternative to traditional lithium-ion batteries. EnerVenue generates revenue through the sale of its battery systems and offers installation, maintenance, and optimization services to enhance client investments. The company stands out from competitors by leveraging its advanced technology and a new gigafactory in Kentucky to scale production and meet market demand. EnerVenue's goal is to support the transition to clean energy by providing reliable and cost-effective energy storage solutions.

Fremont, CaliforniaHeadquarters
2020Year Founded
$408.7MTotal Funding
EARLY_VCCompany Stage
Industrial & Manufacturing, EnergyIndustries
51-200Employees

Risks

Delays in gigafactory expansion could hinder production capacity and market competitiveness.
Over-reliance on nickel-hydrogen technology may limit adaptability to future market changes.
Significant capital investment needs could strain resources if market conditions shift.

Differentiation

EnerVenue's nickel-hydrogen batteries offer over 30,000 duty cycles, surpassing lithium-ion.
Their technology eliminates thermal runaway risks, enhancing safety over traditional batteries.
EnerVenue's batteries are more recyclable, promoting sustainability in energy storage solutions.

Upsides

EnerVenue's $308 million equity round shows strong investor confidence and growth potential.
Partnership with AVID Group expands EnerVenue's reach in Australia's renewable energy market.
Gigafactory in Kentucky will boost production capacity to meet rising energy storage demand.

Funding

Total raised$408.69 M
Latest valuation$1.54 B
StageEARLY_VC
EARLY VC
5/31/2024
$308
$1.54 B
$12
$60.00 M