Fidelity Leads $ 81 Million Investment in Energy to Accelerate Commercialization of Fast-Charging Electric Vehicle Battery Technology

15 February 2021

Advanced silicon-based lithium-ion (Li-ion) batteries for ultra-fast charging and high energy density for markets such as electric vehicles (EVs) Technology pioneer Enebate has announced that it has secured $ 81 million in Series E funding led by the Fidelity Management & Research Company. This adds new resources to us aimed at accelerating the global mass adoption of Enebate's unique battery technology for electric vehicles. Existing investors Mission Ventures and Infinite Potential Technologies also participated in the round.

Enebate says the investment will allow for significant expansion of the pre-manufacturing line. The production line is designed to guide EV and other battery enterprise customers towards the introduction of large-scale battery manufacturing using Enebate's silicon anode-based batteries. The funds raised will also enable the scale and growth of energy. There will also be additional hiring, which will focus on scientists and engineers. With this latest round of funding, Enebate has raised $ 191 million so far.

Robert A. Rango, CEO of Enebate, said: "This latest funding reflects investors' confidence that we will move forward with our customers, technology and our team. With the implementation of our fast charging technology, so much. We anticipate that in the not too distant future EV drivers will be pulling cars into drive-through charging stations, much like current gas stations, charging in about five minutes. You can go back to the road again. "

"We congratulate Enebate on this latest round of funding and will continue to work together as we continue to develop competitive and promising products for our customers. We look forward to it, "said Hadi Zablit, Chairman of the Alliance Ventures, a partnership between Renault, Nissan and Mitsubishi.

"Our collaboration with Enebate Corporation began in 2017 and is still evolving. We are looking forward to fast charging high energy density technology and will work to bring it to the EV market. "We congratulate the Energy team on this latest achievement," said Sungrok Bang, Director of Open Innovation at LG Energy Solutions, a spin-out of LG Chem's battery business.

“As an investor, we believe that Enebate's technology has a number of advantages, which make it particularly attractive in the EV and power tool battery market, both in pouch and cylindrical. Such an advantage is realized by Enebate's unique silicon anode technology, which has attracted us as an investor. Congratulations on Enebate's funding achievements on the rapid path to commercialization. "A representative of Samsung Venture Investment said.

Enebate's technology transfer and intellectual property licensing business model is efficient for any company that operates or plans to operate a battery manufacturing facility. Enebate has collaborated with multiple automotive OEMs and EV battery manufacturers to enable them to leverage their existing manufacturing infrastructure with minimal additional investment. By doing so, we are contributing to the realization of next-generation EVs that eliminate the problems that customers have regarding EV ownership.

We have the largest portfolio of patents related to silicon lithium battery technology compared to start-up companies around the world. This includes an anode, a cathode, electrolyte membrane , separator, formation , cell design, includes a wide range advanced lithium-ion battery technology including the cell architecture. Enebate currently holds patents in countries and regions that account for 95% of global EV sales.

About Enebate ( www.enevate.com )

Enebate has developed and licensed silicon-based lithium-ion battery technology for electric vehicles (EVs), making EV charging as fast as gasoline vehicles, cheaper for anyone to use, and mass EVs. Our vision is to accelerate the introduction. With more than 350 patents and patents pending, Enebate has made pioneering advances in silicon-based anodes and cells, with ultra-fast charging for 5 minutes, high energy density, and operability in cold climates. We have created battery technology that achieves lower cost and safety than conventional batteries.

Enevate's vision is to develop and disseminate EV battery technology that contributes to a clean and sustainable environment. Other investors at Enebate, headquartered in Irvine, California, include Renault-Nissan-Mitsubishi Motors (Alliance Ventures), LG Chem, Samsung Venture Investment, Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Includes Presidio Ventures (Sumitomo Corporation Group companies), Renault, CEC Capital and Bangchak. Enevate®, the Enevate logo, XFC-Energy ™, HD-Energy® and eBoost® are registered trademarks of Enevate Corporation.

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Source: businesswire.com