EnerVenue, a company that specializes in metal-hydrogen batteries, has launched with $12 million in seed funding.
The investment enables EnerVenue to accelerate the development of its safe, maintenance-free and cost-efficient clean energy storage solution. Based on technology proven over decades under extreme aerospace conditions – including powering the International Space Station and Hubble Space Telescope – EnerVenue now brings metal-hydrogen batteries to the mass market with compelling financial and performance advantages over lithium-ion and other incumbent renewable energy storage alternatives.
“As an example of metal hydrogen batteries, nickel-hydrogen batteries have proven to be an incredibly powerful energy storage technology – albeit an expensive one – for the aerospace industry over the past 40 years,” says Dr. Yi Cui, chairman and chief technology advisor at EnerVenue.
“The performance and longevity of nickel-hydrogen batteries is well-established and second to none. We’re now able to deliver the same performance and durability at a breakthrough competitive price using new low-cost materials,” he adds.
Renewable energy generation is expected to account for more than half the world’s power supply by 2035, rising to 75% by mid-century. The cost of lithium-ion batteries has decreased quickly and markedly, enabling more enterprises and utilities to harness renewable energy sources at scale. However, lithium-ion batteries – as well as lead-acid or redox flow alternatives – incur relatively high operating expenses, struggle in extreme hot or cold climates, have a limited lifespan, and can impose safety and environmental challenges. The EnerVenue’s metal-hydrogen batteries can last more than 30 years, with cost-per-kilowatt-hour cycles as low as a penny.
The EnerVenue metal-hydrogen batteries are developed for large-scale renewable and storage applications and designed to be:
-Durable: Operates in -40° to 140°F ambient temperatures; 30+ year lifespan; 30,000+ cycles without degradation; excellent overcharge, overdischarge, and deep-cycle capabilities
-Safe: No fire or thermal runaway risk; no toxic materials; easy to recycle
-Flexible: Broad charge/discharge range of C/5 to 5C; future-proof with no limitations on use cases; scalable form factor for grid-scale implementations
-Maintenance-free: No moving parts; 30+ year lifespan with no routine maintenance or augmentation
-Affordable: Low-cost materials; CAPEX that beats lithium-ion learning curves; no ongoing maintenance costs
-Proven: Nickel-hydrogen batteries have completed more than 200 million cell-hours in orbital spacecraft and more than 100,000 charge/discharge cycles
The seed round is led by Dr. Peter Lee, chairman of Towngas, an energy company in Asia with 158 years of history, and includes Doug Kimmelman, founder of Energy Capital Partners.
Photo: EnerVenue’s team
Original source: North American Wind Power