Alliance Ventures Invests in Enevate to Advance Li-ion Battery Technology for Electric Vehicles

Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, has announced today that it has invested in the latest round of funding in Enevate Corporation, an advanced lithium-ion (Li-ion) battery technology company based in Irvine, California. This marks the latest technology investment by Alliance Ventures, launched earlier this year to support start-ups, early-stage development, and entrepreneurs at the cutting edge of next-generation systems for the automotive industry.

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Francois Dossa, Alliance Global Vice President, Ventures and Open Innovation, said: "We are pleased to participate in Enevate's latest funding round. This strategic investment allows us to support the development of Enevate's proprietary, cutting-edge electrode technology. Continued development in this critical field will help us accelerate the electrification of our vehicles."

The investment reflects the capability of Enevate in breakthrough Li-ion batteries capable of extreme fast charging with high energy density. Enevate's technology, which could enable electric vehicles (EVs) to charge in the same time as refueling conventional cars, is seen as a leader in its field.

"We share the common goal of making electric vehicles easier to use and adopt in mass markets," said Enevate President and CEO Robert A. Rango. "We look forward to our strategic partnership with Renault-Nissan-Mitsubishi, as they are a global leader in electric vehicles and they understand the market needs of EV consumers worldwide."

Enevate's HD-Energy(R) Technology for EVs features five-minute fast charging with high energy density and long driving range with added focus on low-temperature operation for cold climates, low cost and safety benefits. This short charging time is superior to any other Li-ion technology available today.

Enevate licenses its silicon-dominant HD-Energy Technology to battery and EV automotive manufacturers and suppliers worldwide to quickly achieve production volume and drive adoption of next-generation features that take EVs to the next level.