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Enevate Achieves Major Targets in 2021, Stepping Up Pioneering Battery Technology to Meet Global Demand for Electric Vehicle (EV) Batteries

IRVINE, California, December 22, 2021– (COMMERCIAL THREAD) – Enevate, a pioneering battery innovation company offering extremely fast and energy-dense charging technologies for electric vehicles (EVs) and other markets, has met and exceeded its targets for 2021.

“I am extremely proud of the accomplishments of our team over the past year as we successfully executed our roadmap,” said Enevate CEO Robert A. Rango. “We have taken a number of important milestones including scale-up plans to significantly expand our pre-production manufacturing capacity, secure additional investments and increase our recruiting to recruit the best and brightest scientists, engineers. and executives in the battery industry for electric vehicles. With markets moving away from internal combustion engine vehicles to electric vehicles, Enevate is well positioned to provide our pioneering electric vehicle battery technology to the automotive and battery manufacturers leading the global mobility revolution. “

Here’s a recap of several of Enevate’s most important accomplishments:

Major milestone passed for Li-ion battery patents

Enevate has achieved a milestone of 100 issued patents worldwide, and now has 117 patents and over 380 additional patents pending, bringing the company’s total portfolio of issued and pending patents at the end of 2021 to nearly 500 Enevate has more silicon battery technology patent families than all of our competitors combined.

Secured $ 81 million Series E funding led by Fidelity Management & Research Company, bringing total investment to nearly $ 200 million

This latest round, which included existing investors Mission Ventures and Infinite Potential Technologies, allowed Enevate to begin to significantly expand its pre-production line designed to guide EV and other battery customers toward manufacturing implementation. of larger scale batteries using the silicon anode of Enevate. -based on batteries and hiring additional staff with an emphasis on scientists and engineers.

Signature of a production license agreement with the South Korean company EnerTech International

This production agreement was a milestone in Enevate’s technology roadmap with the commercialization of Enevate’s silicon-dominated XFC-Energy.® battery technology in the transportation, mobility and standby power markets scheduled for 2022. EnerTech International is a leader in the supply of lithium-ion cells and uses state-of-the-art manufacturing facilities to produce large batteries. format in high demand by rapidly growing markets.

Cleaner, greener battery technology

Enevate has received third-party verification that its XFC-Energy battery technology can achieve up to 26 percent reduction in carbon dioxide (CO2) emissions for manufacturing EV batteries compared to conventional lithium-ion EV batteries (21% for NCA cells and 26% for NMC cells [kg CO2 eq. cradle-to-gate, per 1 KWh cell capacity]).1 These results indicate the potential to reduce the carbon footprint of an electric vehicle early in its life, which is important because battery manufacturing is the main contributor of CO.2 emissions for the manufacture of an EV.

Full speed ahead in 2022

Enevate is patented XFC-Energy technology is set to be a game-changer for the electric vehicle industry, providing a way to produce extremely fast charging electric vehicle batteries at low cost and in large quantities. Enevate is currently working with several EV and battery manufacturers to bring its technology to market as early as 2022 in electric motorcycles and for automotive model years 2024-2025, using existing manufacturing infrastructure with minimal investment required, a central goal of Enevate. His development.

Enevate’s technology transfer and intellectual property licensing business model is ideal for any company that operates or plans to operate battery manufacturing facilities. Enevate offers electric vehicle battery manufacturers the ability to utilize existing manufacturing infrastructure with minimal additional investment, enabling a whole new generation of electric vehicles that will eliminate customer issues associated with owning electric vehicles.

ABOUT ENEVATE (www.enevate.com)

Enevate develops and licenses advanced battery technology for electric vehicles (EVs), with a vision of EVs charging as quickly as gasoline car refueling, accessible and affordable for all, and accelerating mass adoption of EVs. With a portfolio of nearly 500 issued and pending patents, Enevate’s pioneering advancements (by leveraging accelerated battery testing and machine learning) in silicon-dominant anodes and cells have resulted in battery that offers extremely fast charging in five minutes with high energy density, low-temperature operation for cold climates, low cost and safety advantages over conventional batteries.

Enevate’s vision is to develop and propagate EV battery technology that contributes to a clean and sustainable environment. Investors for the Irvine, Calif.-Based company include Renault-Nissan-Mitsubishi (Alliance Ventures), LG Chem, Samsung Venture Investment Corp, Fidelity Management & Research Company, Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies , Presidio Ventures – a Sumitomo Corporation, Lenovo, CEC Capital and Bangchak company. Enévé®, the Enevate logo, HD-Energy®, XFC-Energy® and eBoost® are registered trademarks of Enevate Corporation.

1 Elevate the CO2 emissions information in accordance with international standards ISO 14044: 2006, section 6.1 critical review. Additional information available from Enevate Corp., 101 Theory # 200, Irvine, CA 92617.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211222005140/en/

Contacts

Bill Blanning
[email protected]
+1 (714) 916-4309


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