Enevate Corporation, the developer of high energy density Li-ion batteries featuring a new Silicon-dominant composite anode material (earlier post), has secured $30 million in extended Series-B funding. The funding was led by Infinite Potential Technologies, Tsing Capital and Mission Ventures with participation by Presidio Ventures—a Sumitomo Corporation company.
Enevate has developed advanced Li-ion batteries based on its new materials and cell designs with significantly higher volumetric and gravimetric energy density in thinner and lighter form factors. Enevate’s novel HD-Energy Technology—silicon-dominant composite anodes for rechargeable Li-ion polymer batteries—increase energy density by 25-50% over conventional graphite anode cells.
The company says that its technology has sufficient headroom to create cells with a core volumetric energy density up to and exceeding 1000 Wh/L; these have already been demonstrated in the R&D lab. This technology also has exceptionally good gravimetric energy density of up to 300 Wh/kg, making it an excellent fit for mobile applications that require small size and light weight.
Enevate currently focuses on powering next generation mobile devices and drones; for the longer term, the company is certainly aware of the potential opportunity in the EV market.
This new funding allows Enevate to bring our technology and products developed for our first strategic investors and customers into high volume mass production. It also enables us to expand into new and exciting applications such as drones where high energy density is immensely valuable to extend flight times.—Brian Wong, CEO of Enevate