ESV – EnerVenue, Inc.

November 30, 2023

EnerVenue Launches the EnerVenue Energy Rack—Bringing Even More Speed, Simplicity, and Versatility to Energy Storage at Scale

A pre-assembled solution complete with EnerVenue’s Energy Storage Vessels, Battery Management System, and cabling, the Energy Rack’s plug-and-play design increases energy density while reducing integration costs

FREMONT, Calif. – November 30, 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 EnerVenue Energy Rack. Each rack consists of fully integrated Energy Storage Vessels^™(ESVs) in 150 and 102 kWh configurations. Energy Racks can be flexibly combined as storage requirements evolve.

“Stationary energy storage customers want easily scalable battery architecture, straightforward installation, and a high-density solution that takes up a minimal footprint,” said Randall Selesky, CRO, EnerVenue. “The EnerVenue Energy Rack addresses these market needs head-on, offering a pre-engineered and assembled design that maximizes energy density while reducing integration and onsite installation labor costs. Our customers get complete flexibility to install and connect as many fully assembled Energy Racks as their energy storage use cases require—simple as that. We’re looking forward to the accelerated pace at which customers will be able to implement new energy storage operations and scale existing installations with our stackable rack units.”

The EnerVenue Energy Rack includes EnerVenue’s next-generation ESV battery technology, custom Battery Management System (BMS) hardware, and all wiring and connections required for fast and simple integration into customized containers or buildings. Energy Racks feature an optimized rack size for use in both 1000 VDC and 1500 VDC systems and can be safely deployed within indoor structures or outdoor-rated enclosures. Leveraging racks designed and engineered specifically for EnerVenue ESVs—with the vessels already installed and all battery management system equipment included—enables customers to implement renewable energy storage installations with unprecedented speed and simplicity.

This new solution offers remarkable scalability, with EnerVenue Energy Racks serving as interlocking modules that can be quickly connected inline or stacked up to three levels high. Whereas alternative lithium-ion solutions for stationary storage applications cannot achieve the same form factor due to safety concerns, EnerVenue’s metal-hydrogen ESV technology comes with none of li-ion’s thermal runaway risk. EnerVenue Energy Racks are also serviceable at a component level, delivering longevity with low maintenance costs. Integrators can connect EnerVenue Energy Racks in their warehouse environments to create an “Energy Venue”—scaling into the MWh range easily and with complete safety.

The ESVs within the EnerVenue Energy Racks offer the industry’s most durable, safe, and versatile battery. ESVs can cycle up to three times per day without rest, feature a 30-year/30,000 cycle expected lifetime, and 2- to 12-hour discharge rates, enabling unique applications and business models for developers, integrators, and owners. The Energy Rack units take this revolutionary technology to the next level, offering the easiest, safest, and most financially secure solution for C&I and grid-scale energy storage.

EnerVenue Energy Racks are now available to order and will begin shipping in 2024.

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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October 18, 2023

EnerVenue Enters the South American Market via 525 MWh Master Supply Agreement with VedantaESS

Brazil-headquartered VedantaESS will procure EnerVenue’s Energy Storage Vessels™ for use across utility, distributed generation, and isolated microgrid applications

Fremont, Calif. and São Paulo, Brazil – MONTH XX, 2023 – EnerVenue, the first company to bring metal-hydrogen batteries capable of 30,000 cycles to the clean energy revolution, today announced a Master Supply Agreement with VedantaESS. Per the terms of the deal, VedantaESS will procure and deploy 525 MWh of EnerVenue’s Energy Storage Vessels™ (ESVs) over the next three years.

The partnership with VedantaESS is EnerVenue’s first deal in South America. The company continues to execute an accelerated global sales strategy that has delivered EnerVenue’s energy storage solutions into applications across the world

The Master Supply Agreement with VedantaESS will increase EnerVenue’s supplied energy storage annually, with 75 MWh in 2024, 150 MWh in 2025, and 300 MWh in 2026. VedantaESS will utilize EnerVenue’s ESVs to service Brazil’s growing demand for clean energy, including via distributed generation, isolated microgrids, and commercial, industrial, and utility applications. São Paulo-based VedantaESS provides customers with energy storage project design and management, including energy storage management software, assembly of the battery solution, installation services, technical support, and other products and services that meet the diverse and evolving requirements of the Brazilian energy market. The company’s offerings are designed to significantly reduce customers’ energy costs, increase the market penetration of sustainable and renewable energy, and improve the reliability of energy services across the country.

“At VedantaESS, our mission is solving the significant renewable energy challenges that Brazil faces by strategically applying innovative-yet-proven technologies,” said Richard Phillips, President, VedantaESS. “With its unique metal-hydrogen batteries, EnerVenue’s solutions provide tremendous longevity, reliability, safety, cost-efficiency and, importantly, flexibility. The ESVs will be valuable to our customers across each of the LDES applications we work with. We’re proud to be the first organization to partner with EnerVenue in South America and are eager to bring the benefits of this supply agreement to our customers.”

“VedantaESS understands that long-duration energy storage must go beyond lithium-ion and has smartly grown its organization around sourcing and supplying advantageous alternatives for customers,” said Randall Selesky, Chief Revenue Officer, EnerVenue. “EnerVenue fits perfectly into VedantaESS’ strategy to bring flexible, and sustainable solutions to the Brazilian and South American markets. We look forward to working closely with them and bringing our ESVs into more applications.”

ESVs offer ultra-long life, efficiency, and flexibility via a highly configurable and scalable product architecture. ESVs feature an expected lifetime of 30 years / 30,000 cycles, deliver 86% capacity after 30,000 cycles, and can cycle up to three times per day without rest. In stark contrast to lithium-ion for stationary applications, metal-hydrogen ESVs deliver enhanced fire safety with zero thermal runaway or propagation risk, eliminating the need for expensive fire suppression solutions. ESVs also are almost entirely recyclable, providing a superior choice to lithium-ion storage systems from a sustainability and environmental responsibility perspective.

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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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.

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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.

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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.

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