aVenture is in Alpha: aVenture recently launched early public access to our research product. It's intended to illustrate capabilities and gather feedback from users. While in Alpha, you should expect the research data to be limited and may not yet meet our exacting standards. We've made the decision to temporarily present this information to showcase the product's potential, but you should not yet rely upon it for your investment decisions.
aVenture is in Alpha: aVenture recently launched early public access to our research product. It's intended to illustrate capabilities and gather feedback from users. While in Alpha, you should expect the research data to be limited and may not yet meet our exacting standards. We've made the decision to temporarily present this information to showcase the product's potential, but you should not yet rely upon it for your investment decisions.
© aVenture Investment Company, 2025. All rights reserved.
44 Tehama St, San Francisco, CA 94105
Privacy Policy
aVenture Investment Company ("aVenture") is an independent venture capital research platform providing detailed analysis and data on startups, venture capital investments, and key industry individuals.
While we strive to provide valuable insights with objectivity and professional diligence, we cannot guarantee the accuracy of the information provided on our platform. Before making any investment decisions, you should verify the accuracy of all pertinent details for your decision.
aVenture does not offer investment advisory services and is not registered as an investment adviser. The data provided by aVenture does not constitute recommendations or advice, whether by methodology or a statement written by a staff member of aVenture.
Links to external websites do not imply endorsement or affiliation with aVenture. References or links to providers offering the ability to invest in a primary or secondary transaction in a company are for convenience purposes only. They are not solicitations or offers to buy or sell an investment. Remember that past performance does not guarantee future results, and venture capital and private assets should be a contributory part of a diversified portfolio.
From TechCrunch
By Tim De Chant
June 7, 2024
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 company most recently raised $125 million in a Series A round that closed in late 2021. Given the scale of the factory investment, it’s likely that the new funds will go toward the project.
So far, EnerVenue has raised $308 million of the $515 million target, the filing says. A company spokesperson did not immediately respond to a request for comment at the time of publication.
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. In many ways, nickel-hydrogen is an ideal type of battery for spacecraft: the chemistry can withstand freezing cold and blistering heat, and it doesn’t lose much capacity over time, meaning it can last as long as the craft is expected to live.
But nickel-hydrogen has historically been expensive. For space-based applications, that’s less of a concern; cost is often far down the list of priorities. But on Earth, cost tends to reign supreme.
The equation changed, though, when Yi Cui, a professor at Stanford University and chairman of EnerVenue, tweaked the chemistry to remove expensive platinum. Cui expects that adjustment and others to help drive the cost per kilowatt-hour down below $80 when the batteries are produced at scale.
The batteries themselves more closely resemble elongated SCUBA tanks than AA cells. That’s because they have to contain gaseous hydrogen, which is released when the battery is charged.
Nickel-hydrogen batteries aren’t as energy dense as lithium-ion, meaning they won’t be competing for space in electric vehicles quite yet. But because these batteries can withstand a wide range of temperatures, they don’t need expensive cooling equipment like lithium-ion cells. EnerVenue is betting that its compact arrangement and low maintenance requirements will draw the attention of utilities, who are searching for ways to store excess renewable power. Last year, the startup said it had 7 gigawatt-hours worth of commitments from customers.
The scale of the new round reflects the challenges that many hardware-based climate tech companies face when attempting to scale up to meet commercial demand. Building the first-of-a-kind factory is often expensive, but the risks involved mean that infrastructure funds hesitate to offer the necessary credit. As a result, startups often have to raise large sums from venture firms, trading equity for the money needed to build large projects. Finding firms willing to take the risk is a hurdle in and of itself.
EnerVenue appears to have at least partially surmounted that hurdle, finding enough investors for a sizable Series B. The next challenge will be completing the factory, scaling production and sending its novel batteries out into the world.
Share:
Retro Biosciences, backed by Sam Altman, is raising $1 billion to extend human lifespan
OpenAI CEO Sam Altman is doubling down on Retro Biosciences, a biotech startup based in San Francisco that wants humans to live 10 years longer than what it calls a healthy human lifespan. Altman previously provided Retro Biosciences’ entire seed round of $180 million. Now, the startup is raising a $1 billion Series A that Altman is joining, The Financial Times reports. Retro Biosciences, which says it plans to launch trials for drugs targeting diseases like Alzheimer’s, recently trained a mode
Jan 24, 2025
TechCrunch Disrupt 2025 tickets now on sale: Lowest rates ever
We’re kicking things off earlier than ever! TechCrunch Disrupt 2025 tickets are officially on sale. Don’t miss your chance to snag them at the lowest rates of the year! Immerse yourself in the epicenter of tech innovation at Disrupt 2025! From October 27 to 29, Moscone West in San Francisco transforms into the global hub for technology and venture capital. Experience 250+ powerful sessions, 200+ expert-led discussions, the thrilling Startup Battlefield 200, and unparalleled networking with 10,0
Jan 24, 2025
Neko Health’s unicorn-sized Series B is larger than some Series C rounds
Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here. This week was supposed to be a short one in the U.S., as it started with a holiday. But Inauguration Day kept some founders busy, and the following days brought us more than their fair share of startup news. Most interesting startup stories from the week Image Credits:David Paul Morris/Bloomberg via Getty This week reminded us that not all sal
Jan 24, 2025
Don't miss our latest news and updates. Subscribe to the newsletter