EnerVenue, a California-based startup, has raised an additional $300 million in its Series B funding round, led by Full Vision Capital. This investment will help the company boost production of its non-lithium metal-hydrogen storage systems in Changzhou, China, support research on new cell technology, and grow its business in Asia, the Middle East, and Europe.
It comes as more industries seek safer, longer-lasting alternatives to lithium batteries for large-scale energy storage, renewable energy, and AI data centres.
EnerVenue was founded in 2020 by Dr Yi Cui, a Stanford professor. The company has developed storage systems built to work like power-grid infrastructure. This makes the grid more reliable, helps shift to renewable energy, and supports the growing power needs of AI, all while prioritising safety, longevity, and low costs over time.
EnerVenue’s technology uses non-lithium, water-based metal-hydrogen cells that were first developed for NASA and later improved at Stanford University. The company focuses on making batteries that last a long time, are safe, and are cost-effective over their lifetimes, rather than just maximising short-term energy output.
EnerVenue has already received support from Aramco Ventures and other major investors. Alan Chan, Managing Partner at Full Vision Capital and co-founder of EnerVenue, said the new funding shows strong belief in the company’s technology and business plan.
In the grid-storage market, EnerVenue mainly competes with other long-duration, non-lithium battery solutions, such as iron-air systems from Form Energy, flow batteries from ESS Inc. and Invinity, and new metal-hydrogen or advanced NiH₂ systems. It does not compete directly with lithium-ion providers such as Tesla, Fluence, or Enphase.
EnerVenue plans to grow its Changzhou factory to a 250 MWh production line by 2026 and eventually reach gigawatt-scale capacity. The company also wants to expand its business in the Asia Pacific, the Middle East, and Europe, focusing on storage projects for utilities, businesses, and industries that need reliable, long-lasting power.
