Hong Kong Tycoon-Backed EnerVenue Raises $300M for Metal-Hydrogen Battery Expansion and Global Grid Storage Push

EnerVenue, a California-based battery innovator, has secured $300 million in Series B+ preferred stock financing to accelerate its battery expansion.

The funding, led by Hong Kong property tycoon Peter Lee's Full Vision Capital, will scale manufacturing of next-gen non-lithium metal-hydrogen batteries for grid-scale energy storage.

From Aerospace Roots to Clean Energy Pioneer

EnerVenue was co-founded by Full Vision Capital in 2020, launching with $12 million in seed funding to adapt proven aerospace nickel-hydrogen technology for renewables.

The startup previously raised over $400 million across rounds, including a $125 million Series A backed by Aramco Ventures and Schlumberger, totaling around $745 million to date.

These durable, safe batteries offer 30-year lifespans without degradation, outperforming lithium-ion in long-duration storage critical for renewable integration.

Boosting Global Energy Transition Impact

The investment addresses surging demand for reliable grid storage amid the clean energy boom, enabling stable power from intermittent solar and wind sources.

EnerVenue's tech promises lower costs and maintenance-free operation, potentially slashing energy storage expenses by up to 50% over decades.

With backers like NEOM and SAIC Capital, the firm strengthens Asia-US ties in greentech amid geopolitical shifts in battery supply chains.

Gigafactory Plans and Hong Kong Hub

Proceeds will fund EnerVenue's first gigawatt-scale production line, with factories eyed in the US and China for massive output.

The company plans a Hong Kong hub to anchor regional expansion, leveraging Peter Lee's networks.

New CEO Henning Rath leads the charge toward commercialization, positioning EnerVenue as a unicorn in the $100 billion energy storage market by 2030.