ESV – EnerVenue, Inc.

September 6, 2023

EnerVenue Launches the Next Generation of its Energy Storage Vessels™ (ESVs)

With significant increases to energy capacity, density, and power—as well as improved monitoring intelligence and temperature performance—the new ESVs offer an even more advantageous stationary storage solution

FREMONT, Calif. – September 6, 2023 – EnerVenue, the first company to bring metal-hydrogen batteries capable of more than 30,000 cycles to the clean energy revolution, today announced the launch of the company’s next-generation Energy Storage Vessels™ (ESVs).

The newest version of EnerVenue’s batteries extends the solutions’ durability, operational flexibility, and cost-efficiency benefits for stationary storage projects across myriad use cases. The highlights of the new ESVs include the following improvements over the previous versions:

Capacity: Next-generation ESVs deliver 150% more energy storage capacity than previous versions.
Density: With improved materials efficiency, the new ESVs increase energy density by 100%.
Power: Nominal power performance improves by 150%.
Monitoring intelligence. Each ESV is monitored for temperature, pressure, and voltage—improving operations with more granular and accurate vessel and state-of-charge data.
Temperature performance: Already built to operate in extreme hot and cold environments, the new ESVs are further optimized for consistent performance across an especially wide range of temperatures.

EnerVenue’s next-generation ESVs continue to deliver proven and demonstrable advantages over lithium-ion for grid-scale, commercial, and industrial deployments—with unique and unparalleled battery durability, safety, and operational flexibility. Next-generation ESVs have an ultra-long 30-year 30,000-cycle expected lifespan, and a projected 86% capacity after 30,000 full cycles. Because metal-hydrogen ESVs pose zero thermal runaway risk and no risk of fire propagation, deployments require no complex and costly fire suppression or robust HVAC systems.

The next-generation ESVs can flexibly cycle up to three times per day, at 2 to 12-hour discharge rates, enabling unique applications and business models for developers, integrators, and owners. Revenue stacking opportunities can also be maximized because of the solution’s applicability to so many clean energy use cases.

“Our new Energy Storage Vessels advance our solution’s energy capacity, density, and power performance, and continue to add to our battery’s advantages over lithium-ion systems,” said Majid Keshavarz, Chief Technology Officer, EnerVenue. “As lithium supply chain problems and other factors continue to threaten its long-term viability in stationary storage, ESVs offer clear differentiation. Our metal-hydrogen solution uses Earth-abundant materials and, in contrast to lithium-ion systems, does not require augmentation to maintain performance over the battery’s 30-year, 30,000-cycle lifespan. Fire-prone lithium-ion systems also require robust HVAC and fire suppression systems that our next-generation ESVs do not, reducing customers’ cost and operational requirements.”

The next-generation ESVs are backed by EnerVenue’s Capacity Assurance™, the industry’s longest, simplest, and most straightforward extended warranty for stationary batteries, offering an unmatched 20-year/20,000 cycle warranty extension that guarantees at least 88% battery capacity remaining after that period.

Certifications and standards testing on the new ESVs is underway. The batteries will be produced at the company’s one-million-square-foot gigafactory in Shelby County, Kentucky, where the plant is being designed with manufacturing lines to support production at scale. Already backed by large-scale deals from Pine Gate Renewables, Nicon Industries’ Green Energy Renewable Solutions and others, volume manufacturing and the new design of EnerVenue’s next-generation ESVs are expected to significantly accelerate profitability for the company.

About EnerVenue

EnerVenue builds simple, safe, and cost-efficient energy storage solutions for the clean energy revolution. Based on technology proven over decades under the most extreme conditions, EnerVenue batteries are refined and scaled for large renewable energy integration applications.

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March 28, 2023

EnerVenue Opening Gigafactory in Shelby County, Kentucky to Scale Production of its Differentiated Energy Storage Solutions

The one-million-square-foot manufacturing facility will enable the fast-growing clean energy company to meet current and future demand for its unique, non-lithium-ion battery technology.

FREMONT, Calif., and SHELBY COUNTY, Ky., March 28, 2023 – EnerVenue, the first company to bring metal-hydrogen batteries capable of more than 30,000 cycles to the clean energy revolution, today announced it will open a one-million-square-foot gigafactory in Shelby County, Kentucky. The 73-acre site will become the company’s state-of-the-art manufacturing plant for its Energy Storage Vessels. All aspects of design and process validation, manufacturing and testing will be performed onsite. The first phase of the project will encompass one gigawatt hour of annual production. EnerVenue expects to invest in excess of $1 billion to expand to more than 20 gigawatt hours per year across its domestic manufacturing sites in subsequent phases.

“Locating EnerVenue’s gigafactory in Kentucky is a win for the commonwealth,” said Governor Andy Beshear. “Our leadership has prioritized bringing high-quality jobs to the region and this is yet another example of those efforts paying dividends.”

The new gigafactory, located in the heart of Kentucky’s manufacturing region, is expected to create 450 full-time jobs during the initial opening and first phase of the production ramp. Shelby County offered EnerVenue a generous long-term incentive package comprising property and wage tax rebates totaling $20 million over a 25-year period, which is commensurate with the company’s significant local investment. The state of Kentucky also offered EnerVenue more than $10.3 million in tax incentives for the first phase of the company’s ramp. The tax rebates will help support growth in the county and incentivize future development as the gigafactory expands and adds additional jobs.

“We are excited to welcome EnerVenue to Shelby County and look forward to the positive impact its gigafactory will have on our local economy,” said Dan Ison, Shelby County Judge Executive. “With this facility, county residents will be afforded new, lucrative career opportunities.”

EnerVenue continues to see accelerating demand for its unique solution for safe, durable, and versatile clean energy storage. The company has more than 7 GWh of customer commitments, including from Pine Gate Renewables, Nicon Industries’ Green Energy Renewable Solutions, and Sonnell Power Solutions, among others.

“As customer interest in EnerVenue’s storage technology soars, we’re excited to significantly scale battery production with our new state-of-the-art gigafactory in Shelby County,” said Jorg Heinemann, CEO, EnerVenue. “Following a nationwide vetting process, Kentucky emerged as the ideal fit to build our new facility. The state and county governments were committed to bringing manufacturing and clean energy jobs to the region, and we look forward to working with them as we build out operations.”

The gigafactory also continues to grow EnerVenue’s national footprint. The company recently expanded its operations in Fremont, California and secured long-term materials and equipment supply agreements with Precision Process and Precious Plate in Niagara Falls, New York.

EnerVenue recently launched the second generation of its large-format battery technology—Energy Storage Vessels™—that enable more scalable and customizable configurations. The company also backs its vessels with Capacity Assurance™, offering customers a straightforward 20-year/20,000-cycle warranty extension at 88%+ capacity.

The gigafactory is expected to begin production by the end of the year.

About EnerVenue

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December 6, 2022

EnerVenue Launches Energy Storage Vessels (ESVs), the Second-Generation of its Metal-Hydrogen Energy Storage Solution

The ESVs offer more efficient and flexible deployments of EnerVenue’s pioneering technology, with scalable and customizable large-format battery configurations ready to meet a wide breadth of customer and partner applications

FREMONT, Calif. – Dec. 6, 2022 – EnerVenue, the first company to bring metal-hydrogen batteries capable of more than 30,000 cycles to the clean energy revolution, today announced the launch of EnerVenue Energy Storage Vessels (ESVs), the company’s second-generation energy storage product.

EnerVenue ESVs continue to expand the company’s pioneering use of metal-hydrogen energy storage technology as an advantageous solution compared to lithium-ion and other alternatives. Based on decades of use with NASA and other aerospace applications, EnerVenue has significantly cost-reduced materials to bring—for the first time—unique battery durability, safety, and flexibility benefits to grid-scale, commercial and industrial deployments. The new ESV solution delivers unprecedented flexibility in how customers can stack and install the vessels to build and scale their energy storage capacity.

The ultra-long-life EnerVenue ESVs enable unique applications and business models for developers, integrators, and owners. Customers can cycle ESVs up to three times per day without rest, and the batteries have an expected lifetime of 30 years / 30,000 cycles. ESVs continue to deliver 86% capacity beyond 30,000 cycles, providing a second asset life that lithium-ion batteries cannot match. The solution’s metal-hydrogen technology further differentiates from li-ion by offering improved fire safety. ESVs have been tested and demonstrate no thermal runaway or propagation risk, and there is no need for costly, preventative fire suppression systems. EnerVenue ESVs also significantly reduce OPEX and CAPEX costs compared to li-ion, delivering on expected ROI by eliminating any need for expensive augmentations, excessive oversizing, or extensive maintenance during a project’s lifetime. With recyclable components, ESVs are also more sustainable and environmentally responsible than li-ion.

EnerVenue ESVs offer a highly configurable and scalable product architecture that makes the products ideal building blocks for system integrators of all sizes and business models. ESVs similarly enable a more flexible breadth of deployment locations—and are built to thrive even in extreme temperatures and other environments where grid-scale li-ion batteries struggle. The product also features flexible charge/discharge rates and can discharge to 100% (deep discharges permanently damage li-ion batteries), giving system owners the latitude to capitalize on a broader range of revenue stream opportunities.

“Our new ESVs deliver a meaningful upgrade to the customization and ease with which customers and partners can plan—and expand—their utilization of our transformative and proven battery technology,” said Majid Keshavarz, Chief Technology Officer, EnerVenue. “As the applications using our technology have grown, we wanted to ensure we had a product that could match almost any use case. ESVs package EnerVenue’s incredible technology into a more flexible and efficient solution that we’re excited to bring to market.”

EnerVenue backs its ESVs with the Capacity Assurance extended warranty. Launched in October and the longest and simplest warranty of its kind, customers selecting Capacity Assurance are guaranteed 88% capacity for up to 20 years/20,000 cycles.

The company is already committed to providing seven gigawatt hours of ESVs as part of existing agreements with customers, including previously announced deals with Pine Gate Renewables, Sonnell Power Solutions, and Nicon-Industries-affiliated Green Energy Renewable Solutions. EnerVenue will begin shipping ESVs to customers in 2023.

About EnerVenue