Enevate, a battery company featuring extreme fast-charge and high-energy-density battery technologies for electric vehicles (EVs) and other markets (earlier post), announced a new production license agreement with EnerTech International to commercialize Enevate’s silicon-dominant, XFC-Energy battery technology in the transportation, mobility and reserve power markets.
South Korea-based EnerTech International is a leader in delivering lithium-ion cells using state-of-the-art manufacturing facilities to produce high-performance, large format batteries.
This production license agreement with EnerTech is the next milestone in Enevate’s technology roadmap that leads to commercialization scheduled for 2022. Pre-production batteries have been built and tested using EnerTech’s existing lithium-ion battery manufacturing equipment. With the agreement, Enevate will deliver enabling technology to accelerate EnerTech’s market expansion and triple its manufacturing capacity output.
Enevate’s next-gen lithium-ion battery technology delivers up to 10 times faster charging than conventional lithium-ion batteries with high energy densities along with a host of other benefits, including improved safety and low-temperature operation for cold climates. With its Extreme Fast Charge capability, Enevate technology allows for a battery to charge in as fast as five minutes.
Enevate’s breakthrough battery technology is compatible with lithium-ion cathode chemistries plus solid-state electrolytes and is manufacturable using existing production lines and capital equipment.
The Irvine, California-based company’s investors 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 company, Lenovo, CEC Capital, and Bangchak.