Capacity Assurance backstops investments in EnerVenue’s energy storage systems, providing a 20-year/20,000 cycle warranty extension at 88%+ capacity
FREMONT, Calif. – October 11, 2022 – EnerVenue, the first company to bring metal-hydrogen batteries to the clean energy revolution, today announced Capacity Assurance™ –the industry’s simplest and most straightforward extended warranty for stationary batteries. With its introduction, Capacity Assurance also represents the longest warranty available in its class.
With Capacity Assurance, EnerVenue customers can now further control risk and backstop their investments, gaining a 20-year/20,000 cycle warranty extension at no less than 88% capacity. This straightforward extended warranty covers a project while it’s in its most critical payback phase and is offered with no hidden exclusions and simple operating terms. With assurance of 88% capacity over 20 years, Capacity Assurance terms are designed to align with customers’ needs by supporting the long-term lifecycles of typical energy storage projects.
EnerVenue’s metal-hydrogen battery systems enables energy providers and system owners with proven grid-scale renewable storage technology that rectifies the cost, durability, and safety limitations of lithium-ion. Li-ion batteries suffer from significant and problematic battery degradation—with power output falling several percent per year—and energy providers using li-ion must regularly perform expensive mitigations by adding new battery banks to their existing footprints to keep up with their contractual power output obligations. Li-ion warranties reflect this risk with their cost and complexity – usually requiring operation in a very narrow specifications window and containing myriad exclusions and exceptions.
In direct contrast, EnerVenue’s battery systems offer a 30+ year design life with essentially zero year-to-year degradation. With no augmentations required, EnerVenue’s batteries are ultra-low maintenance, with similarly low material and operational costs. Importantly, EnerVenue’s batteries present no fire or thermal runaway risk, exhibit extremely minimal degradation and are built to operate in a wide range of ambient temperatures without auxiliary HVAC.
“For years, the stationary storage market has been asking for a simple, long-term capacity guarantee,” said Randy Selesky, CRO, EnerVenue. “Capacity Assurance delivers an industry-best promise that complements EnerVenue’s robust technology and provides our partners with both operational confidence and contractual security.”
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. The company is headquartered in Fremont, California.