The Enevate Corporation received a notable investment from Alliance Ventures during their latest funding round, solidifying the venture firm’s commitment in the company’s lithium-ion (Li-ion) battery technology. This advanced battery has a high energy density and an extremely fast charging time, making it the perfect candidate for use in electric vehicles (EVs).
Alliance Ventures launched earlier this year to support entrepreneurs, early-stage development, and start-ups with next-generation systems for the automotive industry. Enevate’s CEO and President, Robert A. Rango, expressed that both Enervate and Alliance Ventures, “share the common goal of making electric vehicles easier to use and adopt in mass markets. We look forward to our strategic partnership with Renault-Nissan-Mitsubishi, as they are a global leader in electric vehicles and they understand the market needs of EV consumers worldwide.”
The technology behind this system is Enevate’s HD-Energy, giving EVs five-minute fast charging capable of long driving range, with added focuses on low-temperature operation for colder climates, safety, and low cost. This technology could allow EVs to charge at the same rate a traditional car refuels, a recharge rate superior to any other Li-ion technology currently available.
“This strategic investment allows us to support the development of Enevate’s proprietary, cutting-edge electrode technology,” said Francois Dossa, the Global Vice President of Alliance, Ventures and Open Innovation. “Continued development in this critical field will help us accelerate the electrification of our vehicles.”
