California-based energy storage start-up EnerVenue has raised US$300 million in its latest Series B+ funding round, spearheaded by Full Vision Capital. The company, which specialises in nickel-hydrogen battery technology, also announced the appointment of veteran executive Henning Rath as CEO to oversee large-scale industrial deployment.
As part of its global expansion, the firm—backed by the Hong Kong Investment Corporation (HKIC)—will establish a regional headquarters in Hong Kong to coordinate sales across the territory and mainland China.
The fresh capital is earmarked for research, manufacturing ramp-ups, and strengthening supply chains. Newly appointed CEO Henning Rath, formerly of German renewables giant Enpal, stated: “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. It also provides runway for achieving our short- and medium-term production capacity targets.”
EnerVenue’s technology adapts nickel-hydrogen chemistry—originally used in aerospace—to provide low-cost, durable storage for solar, wind, and EV infrastructure. Clara Chan, CEO of the HKIC, highlighted the strategic importance of the city in this growth, noting: “Hong Kong will help companies like EnerVenue optimise their global action plans and serve as a gateway to international markets, leveraging our strengths as an international financial centre, ‘superconnector’, and ‘super value-adder’.”
The start-up already maintains a strong regional foothold through a 2021 agreement with Towngas, which serves as the exclusive distributor for EnerVenue’s products in mainland China. This latest financing round reinforces the company’s position as a formidable competitor to lithium-ion and flow battery technologies in the rapidly evolving grid-scale storage market.
