Hong Kong tycoon-backed start-up bets on new battery to challenge energy-storage giants
EnerVenue, a start-up co-founded by Full Vision Capital, the family office of Hong Kong tycoon Peter Lee Ka-kit, has begun manufacturing a new battery it expects to challenge existing energy-storage technologies dominated by mainland Chinese players, amid surging global demand for green energy.
The California-based company can now produce 250 megawatt-hours (MWh) of nickel-hydrogen batteries annually at its factory in Changzhou, in eastern China’s Jiangsu province, and plans to raise capacity to one gigawatt-hour (GWh) in 2027.
“In this [energy-storage] segment, we believe we are very competitive across the board on key metrics,” CEO Henning Rath told the South China Morning Post in an interview on Friday.
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