Enevate Corporation, an Irvine, California-based advanced lithium-ion (Li-ion) battery technology company, received an investment from Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi.
The amount of the funding was not disclosed.
The investment reflects the capability of Enevate in breakthrough Li-ion batteries capable of extreme fast charging with high energy density. Enevate’s technology, which could enable electric vehicles (EVs) to charge in the same time as refueling conventional cars, is seen as a leader in its field.
Led by President and CEO Robert A. Rango, Enevate develops and licenses advanced silicon-dominant Li-ion battery technology. The company’s work on silicon-dominant anodes and cells has resulted in its HD-Energy® Technology featuring fast charging with high energy density, low-temperature operation for cold climates, low cost, and safety advantages over conventional graphite Li-ion batteries.
Investors in the company include Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, CEC Capital, Samsung, Lenovo, and LG Chem.