Enevate

Enevate develops extreme fast-charging (XFC) lithium-ion batteries. The company promises five-minute fast charging and 30% more range compared to conventional batteries. At the core of the company’s technology is a multi-layer cell design that enables XFC. This innovative cell design is based on a pure silicon anode, which, according to the company, requires just a fraction of the space of a graphite anode used in conventional batteries. Enevate also optimizes its cell design through a next-generation electrolyte. The company had obtained 400+ patents as of February 2022. 

Enevate operates a 20,000 sq ft facility at the UCI Research Park as of February 2022. The company has also signed a lease for a 125,000+ sq ft facility in Irvine, California, for its pre-production line and corporate offices. Enevate planned to commercialize its technology for e-motorcycles in 2022 and for automotive models in 2024/2025. The company stated that it had been working with several EV and battery manufacturers to commercialize its technology. 

Enevate’s most recent funding event was in February 2021, when it raised USD 81 million in a Series E funding round led by Fidelity. The proceeds were to be used to expand the company’s pre-production line and hire more scientists and engineers. Enevate’s other key investors include the Renault-Nissan-Mitsubishi alliance, LG Chem, and Samsung Ventures.