Raise another $300 million in funding, Stanford professor's nickel-metal hydride batteries settle in Changzhou

EnerVenue, a company specializing in a new nickel-hydrogen gas battery technology, has completed an additional $300 million Series B preferred share financing round. This round was led by Fusheng Capital, and Hong Kong Investment Management Limited was newly introduced as a strategic shareholder. It is reported that the funds will be used for capacity upgrades and expansion of its Changzhou factory. To date, the company has completed three rounds of financing, with the total amount exceeding $800 million. EnerVenue was founded in 2020 by Cui Yi, a professor from Stanford University’s Department of Materials Science and Engineering, and focuses on R&D and commercialization of nickel-hydrogen gas battery technology. Currently, the company has production facilities established in cities including Changzhou, Jiangsu, China, and Kentucky in the United States. After this round of financing, EnerVenue also carried out personnel and organizational and structural adjustments: appointing Henning Rath as the new Global Administrative CEO, and setting up a regional headquarters and an innovation R&D center in Hong Kong. The new CEO, Henning Rath, previously served as an executive at multiple internationally well-known technology companies, and has management and operational experience with several companies valued at over $1 billion.(36氪)