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About EnerVenue
Industries
Industrial & Manufacturing
Energy
Company Size
51-200
Company Stage
Seed
Total Funding
$408.7M
Headquarters
Fremont, California
Founded
2020
Overview
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 have a long lifespan, making them a reliable choice for clients such as utility companies and industrial firms. EnerVenue's products work by utilizing nickel-hydrogen technology, which offers durability and sustainability compared to traditional lithium-ion batteries. The company differentiates itself from competitors by providing advanced energy storage systems along with installation and maintenance services, ensuring clients maximize their investments. EnerVenue's goal is to support the transition to clean energy by offering effective and cost-efficient energy storage solutions.
Simplify's Take
What believers are saying
- EnerVenue's partnership with RWE highlights growing demand for long-duration energy storage solutions.
- The $308 million equity round indicates strong investor confidence in EnerVenue's technology.
- Expansion into Australia with AVID Group showcases EnerVenue's international growth and collaboration.
What critics are saying
- Delays in gigafactory expansion could hinder EnerVenue's production capacity and competitiveness.
- Over-reliance on nickel-hydrogen technology may limit adaptability to future market changes.
- Significant capital investment needs could strain financial resources if market conditions shift.
What makes EnerVenue unique
- EnerVenue uses nickel-hydrogen technology, offering a safer alternative to lithium-ion batteries.
- Their batteries boast over 30,000 cycles, providing long-term reliability and efficiency.
- EnerVenue's solutions are highly recyclable, enhancing their sustainability and environmental appeal.
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Funding
Total Funding
$408.7M
Above
Industry Average
Funded Over
3 Rounds
Growth & Insights and Company News
6 month growth
↑ 3%1 year growth
↑ 5%2 year growth
↑ 7%Tuesday, 03 December 2024RWE is conducting the pilot project at its Milwaukee-area US testing facility, where the company is now cycling EnerVenue’s ESVs to examine the batteries’ performance characteristics. The goals of this pilot project include validating ESV cycling flexibility, charge/discharge characteristics, duration, temperature performance, and efficiency validation. RWE will use the data collected to align EnerVenue’s technology for potential future RWE applications.ESVs offer the prospect of ultra-long lifespans and efficient, flexible deployments via their highly configurable and scalable product architecture. The batteries are designed to exceed a 30,000-cycle life and cycle up to three times per day without rest. They offer improved safety without the thermal runaway or propagation risk exhibited by incumbent lithium-ion technologies - eliminating the need for expensive, auxiliary fire suppression solutions. ESVs are also more readily recyclable than lithium-ion, making the batteries especially sustainable and environmentally responsible.“Grid-scale energy storage that promises to be safer, flexible, and more durable offers great potential for meeting our continuously growing demand for energy” said Andrea Hu-Bianco, SVP of Engineering, RWE Clean Energy
ABB Optical Group is laying off 138 staff on December 16 in Alameda.
EnerVenue expected to invest in excess of $1 billion to expand to more than 20 gigawatt hours per year across its domestic manufacturing sites, primarily in the Shelbyville facility, in subsequent phases.
Australia's Avid Group has signed a master supply agreement with Enervenue, a US-based company that manufactures nickel-hydrogen batteries offering more than 30,000 duty cycles at discharge rates of two to 12 hours.
Tuesday, 27 August 2024Australian energy storage provider EnerVenue is planning to install its high-efficiency long-duration Energy Storage Vessels at AVID Group’s manufacturing site and across customers’ commercial, mining, industrial, and microgrid locations.EnerVenue pioneers the commercial deployment of high-efficiency metal-hydrogen batteries capable of more than 30,000 cycles. This morning, the company announced a Master Supply Agreement with AVID Group, an energy solutions provider serving Australia and West Africa. The partnership with AVID is EnerVenue’s first Master Supply Agreement with an Australian energy provider and extends EnerVenue’s growing reach in the country.AVID and EnerVenue agreed to install EnerVenue’s fourth-generation Energy Storage Vessels (ESV-4) at AVID’s own Perth-based manufacturing site and make EnerVenue storage solutions available to customers for use in their own commercial, mining, industrial, and microgrid applications. AVID plans to install and integrate EnerVenue technology at customer sites across Australia, and EnerVenue plans to provide in-country technical, sales, and after-sales support.Many of AVIDs customers have remote commercial microgrids and use cases within the mining and industrial sectors. Energy Storage Vessels offer long-duration cycling and can cycle continuously without rest or at various intervals - providing the flexibility to adapt to daily or seasonal changes. Energy Storage Vessels are also ultra-low maintenance, and do not require augmentation like lithium-ion chemistries.EnerVenue’s solution has been designed to deliver a lower levelised cost of storage (LCOS) and eliminate the most acute legacy challenges of operating battery systems at these sites.For remote industrial customers reliant on diesel fuel to run their operations, Energy Storage Vessels offer significant advantages by integrating with power generation sources to reduce fuel requirements, making total fuel costs more predictable, and reducing fuel supply and transportation risks
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About EnerVenue
Industries
Industrial & Manufacturing
Energy
Company Size
51-200
Company Stage
Seed
Total Funding
$408.7M
Headquarters
Fremont, California
Founded
2020
There are no jobs for EnerVenue right now.
Find jobs on Simplify and start your career today