EnerVenue secures $300 million to expand the use of metal-hydrogen batteries, validated by NASA, for grid storage solutions.

      For many years, nickel-hydrogen batteries have been the unsung workhorses of space, providing power to the International Space Station and the Hubble Space Telescope under extreme orbital conditions. Now, a startup from California aims to harness this same technology on Earth and has just secured considerable funding to pursue that goal.

      EnerVenue has raised $300 million in a Series B extension led by Full Vision Capital, the family office of billionaire Peter Lee Ka-kit from Hong Kong. This funding round brings the company's total financing to $445 million, according to Crunchbase, and will support the scaling up of its non-lithium metal-hydrogen energy storage systems at a factory in Changzhou, China, aspiring to achieve gigawatt-scale production capacity.

      The company has also appointed Henning Rath, a seasoned technology executive who previously helped to build the German renewable energy equipment company Enpal, as its new global CEO. Additionally, plans have been announced for a regional headquarters and innovation center in Hong Kong, with support from the government-backed Hong Kong Investment Corporation.

      “The capital is essential for advancing research and development of our core technologies, expanding large-scale manufacturing, strengthening supply-chain resilience, and increasing our global commercial presence,” Rath stated in a statement reported by the South China Morning Post.

      Founded in 2020 by Yi Cui, a professor of materials science and engineering at Stanford University, EnerVenue has focused its business on adapting nickel-hydrogen cells, a technology validated through decades of aerospace applications, for large-scale grid storage. The batteries utilize a water-based electrolyte instead of the flammable organic solvents typically found in lithium-ion systems, thereby eliminating fire hazards and enabling operation across a temperature range of -40 to 50 degrees Celsius.

      The appeal lies not in raw energy density but in longevity and overall cost of ownership. While lithium-ion batteries generally degrade after a few thousand charge cycles, EnerVenue asserts that its metal-hydrogen cells can withstand tens of thousands of cycles while maintaining safety and cost-effectiveness throughout their lifespan.

      This proposition has attracted interest from notable investors. Among the company's early backers is Aramco Ventures, the investment arm of Saudi Arabia’s oil giant, alongside NEOM Investment Fund, SAIC Capital, and IDG Capital, according to Crunchbase and PitchBook data. In 2021, Towngas, also known as Hong Kong and China Gas Company, secured an exclusive distribution agreement for EnerVenue’s products in mainland China. Towngas, where Lee serves as chairman, is a minority stakeholder in the company.

      The investment comes at a time when the global energy storage market is facing significant pressure to move beyond lithium-ion technology. The rapid growth of AI-driven data centers, combined with the ongoing expansion of renewable energy generation, has resulted in soaring demand for reliable, long-lasting, and safe grid-scale storage solutions. EnerVenue’s nickel-hydrogen technology competes in this arena against various alternatives, including iron-air batteries from Form Energy, vanadium flow batteries from companies such as ESS Inc. and Invinity, as well as established lithium-ion providers and pumped hydro storage.

      EnerVenue’s immediate growth strategy focuses on its Changzhou facility in Jiangsu province, China, where it plans to launch a 250 MWh production line by 2026, eventually targeting an annual capacity of one gigawatt-hour. Beyond manufacturing, the company aims to leverage Hong Kong as a foothold to penetrate the Asia-Pacific, Middle Eastern, and European markets, concentrating on utility-scale projects, industrial applications, and infrastructure requiring reliable, long-duration power.

      Time magazine recognized EnerVenue as one of the top 10 US green technology companies in 2025, highlighting the growing interest in alternatives to lithium's supremacy. The key question remains whether the company can transition its aerospace heritage and billionaire support into a legitimate contender in grid-scale storage. The $300 million investment and the new leadership to utilize it suggest that its investors are optimistic about the prospects.