EnerVenue to make use of most current financing to construct gigawatt-scale nickel-hydrogen battery factory in U.S.A.
- Metal-hydrogen battery firm EnerVenue announced today it has actually increased $100 million in Series A funding that it will make use of to build a gigawatt-scale manufacturing facility in the USA, speed up R&D efforts and expand its salesforce.
Schlumberger New Power led the round, accompanied by Saudi Aramco Power Ventures as well as others consisting of Stanford College. EnerVenue has additionally revealed a major distribution as well as production agreement with Schlumberger to expand international schedule of EnerVenue batteries, namely in Europe, the Middle East and Africa.
EnerVenue's batteries use nickel-hydrogen modern technology that has actually been tested for decades on the International Space Station and Hubble Space Telescope. The business developed in 2020 to bring the NASA-originated innovation to grid-scale and various other stationary power applications.
" With the longevity, flexibility, integrity, and also safety and security of its batteries, EnerVenue is providing a special as well as future-proof option for grid-scale energy storage space," said Jorg Heinemann, Chief Executive Officer, EnerVenue. "We have actually proven the advantages that our next-generation nickel-hydrogen battery delivers and are excited to increase our journey onward with Series A backing and also our agreement with Schlumberger."
EnerVenue nickel-hydrogen batteries can operate in -40 ° to 60 ° C (140 ° F) temperature levels with projected 30,000-cycle life-spans. Without lithium, the batteries have no thermal runaway danger. Also without hazardous materials and easily separable components, the batteries are anticipated to be 100% recyclable.
