EnerVenue to use latest funding to build gigawatt-scale nickel-hydrogen battery factory in USA
Metal Hydrogen Battery Company EnerVenue announced today that it has raised $100 million in Series A funding that it will use to build a gigawatt-scale plant in the United States, accelerate R&D efforts and expand its sales force.
Schlumberger New Energy led the round, joined by Saudi Aramco Energy Ventures and others, including Stanford University. EnerVenue also announced a major distribution and manufacturing agreement with Schlumberger to expand the global availability of EnerVenue batteries, namely in Europe, the Middle East and Africa.
EnerVenue’s batteries use nickel-hydrogen technology that has been tested for decades on the International Space Station and the Hubble Space Telescope. The company was founded in 2020 to bring NASA-sourced technology to grid-scale and other stationary power applications.
“With the durability, flexibility, reliability and safety of its batteries, EnerVenue delivers a unique and future-proof solution for grid-scale energy storage,” said Jorg Heinemann, CEO of EnerVenue. “We have proven the benefits of our next-generation nickel-hydrogen battery and are excited to accelerate our journey forward with Series A support and our agreement with Schlumberger.”
EnerVenue nickel hydrogen batteries can operate in temperatures from -40° to 60°C (140°F) with an expected life of 30,000 cycles. Without lithium, the batteries are not at risk of thermal leakage. Even without toxic materials and easily separable parts, the batteries are expected to be 100% recyclable.