EnerVenue plugs into US$300 million to scale next-gen batteries as it eyes Hong Kong hub

EnerVenue – a rechargeable battery start-up co-founded by Full Vision Capital, the family office of Hong Kong tycoon Peter Lee Ka-kit – has raised US$300 million in its latest round of financing and appointed a new CEO to accelerate the large-scale industrial deployment of its cutting-edge energy storage technology.

The California-based company – which also counts government-backed Hong Kong Investment Corporation (HKIC) as an investor – said it would set up a regional headquarters in the city to coordinate sales across the region.

“The capital is crucial for further research and development of our core technologies, the ramp-up of large-scale manufacturing, reinforcement of supply-chain robustness, and expansion of global commercial reach,” newly appointed CEO Henning Rath said in a statement.

“It also provides runway for achieving our short- and medium-term production capacity targets.”

Rath is a veteran technology executive with a track record of building billion-dollar energy businesses, including German renewable energy equipment maker Enpal.

EnerVenue’s new CEO Henning Rath is a veteran technology executive with a track record of building billion-dollar energy businesses. Photo: Handout

Full Vision led the series B+ funding round, according to the statement. Lee, the billionaire founder of Full Vision, is also co-chairman and managing director of property conglomerate Henderson Land Development.