Enervenue raises $300 million to scale metal-hydrogen battery storage manufacturing

Enervenue Holdings, Ltd has secured $300 million of investment in a Series B financing round led by Full Vision Capital.  Funds are expected to support construction of a large-scale manufacturing facility in Changzhou, China.

Enervenue has also appointed Henning Rath as the new company CEO. Rath previously served as chief supply chain officer at German solar company Enpal and will now lead the company as it builds manufacturing capacity for its metal-hydrogen battery storage product.

With the new production capacity in China, Enervenue wants to optimize its cost structure. The company also expects to tap into the battery know-how to be found in the region in a bid to serve a global customer base more efficiently. The fresh capital will therefore also be used to expand the supply chain and market expansion, for example in Asia, the Middle East and Europe.

Research and development work will continue at the company’s California R&D center. Enervenue is expected to focus on the further development of next generation of metal-hydrogen batteries. The lithium-free batteries were originally developed for the Nasa space agency and then further optimized at Stanford University. They are currently in the fourth generation, according to the company.

Metal-hydrogen batteries offer a “unique combination of durability, safety and low total cost of ownership,” according to Enervenue, with up to 30,000 cycles possible over the service life. This would be equivalent to three cycles per day over a period of 30 years.

Enervenue batteries are intended for long-term storage solutions in the power plant and commercial and industrial sectors. “Ideal fields of application are industries with demanding work cycles in which availability and stability of the energy supply are crucial,” the company said. These included network storage in areas with high renewable feed-in and AI data centers.

“This capital creates the basis for targeted investment in our technological advancement, secures the supply chain for gigawatt production, and helps us build a solid global customer base,” said newly appointed CEO, Rath.

“This means that our short- and medium-term capacity targets of 250 megawatt hours and 1 gigawatt hour are now fully funded.”

Construction of the new 250 MWh production line is scheduled to start later in 2026.