Enevate Secures Funding from LG Chem to Accelerate Fast Charge Li-Ion Battery Technology Development for Electric Vehicles
Business Wire India
Enevate Corporation, an advanced lithium-ion (Li-ion) battery technology company, announced that LG Chem, a leading high volume battery manufacturer in South Korea, has participated in Enevate’s recent funding. This investment is a nod to the viability of Enevate’s technology which could enable Electric Vehicles (EVs) to charge in the same time as gas cars without compromise.
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Enevate’s HD-Energy® Technology for EVs allows Li-ion batteries to be charged to 75 percent capacity in five minutes, while also providing higher energy densities than available for today’s current long-range EVs. They can also safely charge and discharge down to -40°C and capture more energy during regenerative braking, extending their range in cold climates.
“The strategic investment from LG Chem indicates the significance of our technology because it could directly address consumer concerns with EVs, such as charge time and range anxiety, cost, and safety,” says Robert A. Rango, Enevate’s President and CEO. “We look forward to our strategic partnerships with companies such as LG Chem to commercialize advanced batteries that will accelerate the adoption of EVs worldwide.”
Enevate offers a complete HD-Energy Technology and licensing package to rapidly enable global EV automotive and EV battery manufacturers to quickly achieve production volume and drive adoption of next-generation features that take EVs to the next level.
Enevate Corporation, with global headquarters in California, USA, develops and licenses advanced silicon-dominant Li-ion battery technology that revolutionizes the electric vehicle (EV) market by breaking down barriers to EV adoption. Enevate's pioneering work on silicon-dominant anodes and cells has resulted in its breakthrough HD-Energy® Technology featuring extreme fast charging with uncompromised high energy density, excellent low-temperature operation for cold climates, low cost, and safety advantages over conventional graphite Li-ion batteries.
Investors include Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, CEC Capital, Samsung, Lenovo, and LG Chem. Enevate, the Enevate logo, HD-Energy, and eBoost are registered trademarks of the Enevate Corporation. To learn more about, or to license, Enevate’s industry-defining battery technology, visit www.enevate.com.
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