EnerVenue, a Fremont, CA-based maker of metal-hydrogen batteries for large-scale renewable and storage applications, launched with $12m in seed funding.
The round was led by Dr. Peter Lee, Chairman of Towngas, an energy company in Asia with 158 years of history, and included Doug Kimmelman, founder of Energy Capital Partners.
The investment enables the company to accelerate development of its clean energy storage solution.
Led by Jorg Heinemann, CEO, EnerVenue provides metal-hydrogen batteries which are an alternative to lithium-ion ones with capabilities suited to harsh-desert, remote project sites and to customers desiring ‘install and forget’ energy storage solutions. The batteries can last more than 30 years.
The company is a spinout of EEnotech, a materials-focused startup foundry that incubates and accelerates nanotechnology-driven solutions to water purification, grid-scale energy storage, smart wearable textiles, and other energy and environmental problems.
The company was founded by Dr. Yi Cui, a Professor of Materials Science at Stanford University.