EnerVenue lands $300 million to bring nasa's space batteries down to earth. March 31, 2026 - 6:36 pm For decades, nickel-hydrogen batteries have been the quiet workhorses of space, powering the International Space Station and the Hubble Space Telescope through the extremes of orbit. Now, a California startup wants to put that same chemistry to work on the ground, and it just secured serious money to do it. EnerVenue has raised $300 million in a Series B extension led by Full Vision Capital, the family office of Hong Kong billionaire Peter Lee Ka-kit. The round, which brings the company's total funding to $445 million according to Crunchbase, will fund 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 has simultaneously appointed Henning Rath, a veteran technology executive who previously helped build German renewable energy equipment maker Enpal, as its new global CEO. It also announced plans to establish a regional headquarters and innovation centre in Hong Kong, with backing from the government-backed Hong Kong Investment Corporation. "The capital is crucial for further research and development of our core technologies, the ramp-up of large-scale manufacturing, reinforcement of supply-chain robustness, and expansion of global commercial reach," Rath said in a statement reported by the South China Morning Post. Founded in 2020 by Yi Cui, a professor of materials science and engineering at Stanford University, EnerVenue has built its business around adapting nickel-hydrogen cells, a technology proven across decades of aerospace use, for terrestrial grid-scale storage. 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. Where lithium-ion batteries typically degrade over a few thousand charge cycles, EnerVenue claims its metal-hydrogen cells can endure tens of thousands of cycles while remaining safe and cost-effective over their full lifespan. That proposition has drawn interest from heavyweight backers. Aramco Ventures, Saudi Arabia's oil giant investment arm, is among the company's earlier investors, alongside NEOM Investment Fund, SAIC Capital, and IDG Capital, according to data from Crunchbase and PitchBook. In 2021, Hong Kong and China Gas Company, known as Towngas, secured an exclusive distribution agreement for EnerVenue's products in mainland China. Towngas, where Lee also serves as chairman, is a minority shareholder in the company. The investment arrives at a moment when the global energy storage market is under intense pressure to diversify beyond lithium-ion. The rapid expansion of AI-driven data centres, alongside the continued build-out of renewable generation capacity, has created surging demand for grid-scale storage that is reliable, long-lasting, and safe. EnerVenue's nickel-hydrogen technology competes in this space with a range of alternatives, including iron-air batteries from Form Energy, vanadium flow batteries from companies such as ESS Inc. and Invinity, as well as established lithium-ion providers and even pumped hydro storage. EnerVenue's immediate expansion plans centre on its Changzhou facility in China's Jiangsu province, where it aims to bring a 250 MWh production line online by 2026, with an eventual target of one gigawatt-hour of annual capacity. Beyond manufacturing, the company intends to use Hong Kong as a base to push into Asia-Pacific, Middle Eastern, and European markets, focusing on utility-scale projects, industrial applications, and infrastructure that demands reliable, long-duration power. Time magazine named EnerVenue one of the top 10 US green technology companies in 2025, a recognition that speaks to the broader interest in alternatives to lithium's dominance. Whether the company can translate aerospace pedigree and billionaire backing into a genuine challenger at grid scale remains the central question. The $300 million, and the new leadership to spend it, suggest its investors believe the answer is yes.

EnerVenue names Henning Rath CEO, secures $300M Series B extension led by Full Vision Capital. Posted On March 31, 2026 FREMONT, Calif. March 31st, 2026 - EnerVenue Holdings, Ltd. ("EnerVenue"), a company commercializing energy storage solutions designed to behave like durable infrastructure, today announced the appointment of Henning Rath as Chief Executive Officer alongside the closing of a U.S. $300 million extension of its Series B preferred stock financing round. The extension round was led by Full Vision Capital, included an additional new investor, and signifies renewed enthusiasm for the energy storage technology innovator. Rath, an internationally recognized technology executive with a distinguished record of building billion-dollar companies with deep expertise in the global energy sector, guided the company to this successful funding milestone. The capital will accelerate EnerVenue's transition from advanced technology maker to high-volume manufacturing industrial leader. "Henning's leadership has been pivotal in positioning EnerVenue for this growth phase," said Dr. Yi Cui, chairman of EnerVenue. "His strategic vision and operational credibility were instrumental in building investor confidence and closing this significant round. His deep expertise in industrial scaling and global market execution is exactly what EnerVenue needs to achieve its ambitious manufacturing and deployment goals." Signaling an advancement of prior company strategy, the capital will support the rapid scale-up of EnerVenue's high-volume manufacturing operations in Changzhou, China - known as the world's epicenter of battery manufacturing expertise. The shift allows the company to optimize its cost structures, leverage the region's unrivaled battery know-how, and service its expanding global customer base more efficiently. The funding will also accelerate supply chain development and commercial expansion. R&D, conducted in Silicon Valley, California - home to technology innovation - will focus on enhancing the company's next-generation, aqueous metal cells, which offers a unique combination of durability, safety, and low total cost of ownership, creating significant demand for utility, commercial, and industrial storage applications. To expand its global footprint, EnerVenue is supported by a strong base of strategic investors, including Aramco Ventures. Over the coming months, the company plans to expand its commercial operations across Asia, the Middle East, and Europe. "We see EnerVenue's high potential for its disruptive energy storage technology that can transform the reliability and safety of critical infrastructure and utilities at scale," said Ionel Nechiti, Investment Director at Aramco Ventures. "This $300 million extension of Series B preferred stock funding is a testament to the strength of EnerVenue's technology and the entire team's execution," said Rath. "This capital provides the foundation to invest decisively in our technology roadmap, secure the supply chain for gigawatt-scale production, and build a robust global customer footprint. Our short and mid-term capacity targets of 250 MWh and 1 GWh are now fully funded." "We invest behind exceptional leadership and foundational technology," said Alan Chan, Managing Partner at Full Vision Capital, who co-founded EnerVenue and led the investment for this round. "Rath's proven track record and clear operational strategy for scaling EnerVenue were critical factors in our investment decision. This partnership and new capital will enable the critical investments needed to establish EnerVenue as a global player in long-duration energy storage." Prior to EnerVenue, Rath was Managing Director and Chief Supply Chain Officer at greentech unicorn Enpal, Germany's leading residential renewable energy provider and one of Europe's top green energy platforms. Before Enpal, Rath built CIRC, the renowned e-scooter startup that was later acquired by Bird, where he led the Asian markets. Rath began his career as an engineer after earning his Bachelor of Science in industrial engineering and a Master of Business Administration at UoAS Muenster. While gaining experience in global markets including Germany, Australia, India, and China, Rath also further studied at both Stanford and Harvard Universities.

EnerVenue develops grid-scale energy storage systems, which are critical to AI data centers.