Energy storage solutions company EnerVenue announced today that it has raised $300 million in an extension of its Series B preferred stock financing round, with proceeds aimed at advancing the commercialization of the company’s high-endurance, lithium-free energy storage systems.

Alongside the new capital, EnerVenue also announced the appointment of Henning Rath as its new CEO.

Founded in 2020, California-based EnerVenue develops long-duration energy storage systems designed to support the integration of intermittent renewable energy sources such as wind and solar by providing reliable, cost-effective and scalable storage solutions for grid and commercial applications.

Using non-lithium technology storage technology based on nickel-hydrogen battery technology chemistry first developed by NASA and refined at Stanford University, the solution offers a safer, robust design, with a substantially longer design life of 30,000 cycles, or three cycles per day for 30 years. Applications for the solution include grid scale energy storage, renewable energy shifting, and AI data centers.

The company said that the new capital will support the rapid scale-up of its manufacturing operations in Changzhou, China and help optimize cost structures, accelerate supply chain development and expand its operations across Asia, the Middle East, and Europe.

New EnerVenue CEO Henning Rath said:

“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.”

The extension round was led by Full Vision Capital, alongside an additional new investor.

Rath joins EnerVenue from residential clean energy platform Enpal, where he served as Managing Director and Chief Supply Chain Officer.

Dr. Yi Cui, chairman of EnerVenue said:

“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.”