TechCrunch
Novel battery manufacturer EnerVenue is raising $515M, per filing
EnerVenue, a startup that has developed an alternative to lithium-ion batteries for long-duration renewable energy storage, is raising $515 million in fresh equity, per an SEC filing seen by TechCrunch. The company is in the process of building a gigawatt-scale factory in Kentucky to produce its nickel-hydrogen batteries, an endeavor that’s estimated to cost $264 million. The startup’s nickel-hydrogen technology is based on batteries that were originally used to store power aboard the International Space Station and in satellites, like the Hubble Space Telescope.
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