EnerVenue has raised $300 million in a Series B extension round, while simultaneously appointing Henning Rath as Chief Executive Officer, marking a major step toward scaling its non-lithium energy storage technology for global markets.
The funding round was led by Full Vision Capital and brings renewed momentum to the company’s efforts to commercialize metal-hydrogen battery systems originally developed by NASA and later refined at Stanford University. The company is positioning its technology as a long-duration, infrastructure-grade alternative to lithium-ion batteries, prioritizing durability, safety, and lifecycle economics.
Founded by Yi Cui, EnerVenue is focused on delivering batteries capable of lasting tens of thousands of cycles, with minimal maintenance and no reliance on lithium. The systems are designed for demanding applications such as grid-scale storage, renewable energy shifting, and AI data center power needs, where reliability and longevity are critical.
The newly raised capital will be used to accelerate the company’s transition into high-volume manufacturing. A key priority is scaling operations at its facility in Changzhou, China, with construction of a 250 MWh production line expected to begin in 2026. The company has also set a mid-term target of reaching 1 GWh of production capacity, with both milestones now fully funded.
In addition to manufacturing expansion, the funding will support supply chain development and global commercial growth across Asia, the Middle East, and Europe. Research and development efforts will continue in Silicon Valley, focusing on advancing the company’s next-generation aqueous metal battery technology.
EnerVenue’s batteries use a water-based electrolyte, eliminating the fire risks associated with traditional lithium-ion systems while enabling operation across a wide temperature range. The company emphasizes total cost of ownership over energy density, positioning its systems as durable infrastructure assets rather than short-term storage solutions.
The leadership transition to Rath reflects the company’s shift toward industrial scale. Rath brings experience in building and scaling energy and technology businesses globally, including prior roles at renewable energy platform Enpal and mobility startup CIRC.
The company is backed by a range of strategic investors, including Aramco Ventures, and is aiming to establish itself as a major player in the growing market for long-duration energy storage solutions.
KEY QUOTES:
“Henning’s leadership has been pivotal in positioning EnerVenue for this growth phase. His strategic vision and operational credibility were instrumental in building investor confidence and closing this significant round. His deep expertise in industrial scaling and global market execution is exactly what EnerVenue needs to achieve its ambitious manufacturing and deployment goals.”
Yi Cui, Chairman of EnerVenue
“This $300 million extension of Series B preferred stock funding is a testament to the strength of EnerVenue’s technology and the entire team’s execution. This capital provides the foundation to invest decisively in our technology roadmap, secure the supply chain for gigawatt-scale production, and build a robust global customer footprint. Our short and mid-term capacity targets of 250 MWh and 1 GWh are now fully funded.”
Henning Rath, CEO of EnerVenue
“We invest behind exceptional leadership and foundational technology. Rath’s proven track record and clear operational strategy for scaling EnerVenue were critical factors in our investment decision. This partnership and new capital will enable the critical investments needed to establish EnerVenue as a global player in long-duration energy storage.”
Alan Chan, Managing Partner at Full Vision Capital
“We see EnerVenue’s high potential for its disruptive energy storage technology that can transform the reliability and safety of critical infrastructure and utilities at scale.”
Ionel Nechiti, Investment Director at Aramco Ventures
