Renault-Nissan-Mitsubishi Invest In 5-Minute Battery Charge Startup Enevate
Extreme fast charging is promised.
Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi Alliance, has participated in the latest round of funding in Enevate Corporation, a battery start-up based in Irvine, California.
The Renault-Nissan-Mitsubishi Alliance is just another high-profile investor – right after LG Chem in October – which makes us think that Enevate really has something feasible in the works.
Enevate promises that its silicon-dominant lithium-ion cells combines several advantages:
- extreme fast-charging capabilities (can be charged to 75% capacity in five minutes)
- high energy density for long-range EVs (around 250-300 Wh/kg)
- can also safely charge and discharge down to -40°C and capture more energy during regenerative braking
- low cost
- improved safety
The list of investors already includes: Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, CEC Capital, Samsung, Lenovo, LG Chem, and the Alliance (Renault-Nissan-Mitsubishi).
Francois Dossa, Alliance Global Vice President, Ventures and Open Innovation, said:
“We are pleased to participate in Enevate’s latest funding round. This strategic investment allows us to support the development of Enevate proprietary cutting edge electrode technology. Continued development in this critical field will help us accelerate the electrification of our vehicles.”
Enevate President and CEO Robert A. Rango said:
“We 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.”
Bonus video: LG Chem has participated in Enevate’s recent funding