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 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.”

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. The company is headquartered in Fremont, California.

Owned by Nicon Industries A/S ownership group, Green Energy Renewable Solutions will deploy EnerVenue energy storage technology across maritime, large construction, and other heavy industry projects

FREMONT, Calif. – September 22, 2022 – 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 Green Energy Renewable Solutions. Under the terms of the deal, Green Energy will procure and deploy 250 MWh of EnerVenue’s storage solution over the next three years. Houston-based Green Energy is a recently launched company owned by Henrik Jensen and Jens Juul, both of whom own and operate Nicon Industries A/S, a leading manufacturer of steel and aluminum constructions in the wind, offshore and maritime industry. Green Energy will leverage EnerVenue battery vessels to support Nicon’s innovative renewable energy and storage projects.

The Master Supply Agreement will deliver 50MWh in 2023, 100MWh in 2024, and 100MWh in 2025. Green Energy will package EnerVenue battery vessels into customized building blocks for projects across Nicon’s onshore and offshore project portfolio. Through Green Energy, Nicon has the ambitious goal of building 1 GW of storage projects within the three years of the initial EnerVenue agreement.

“EnerVenue’s energy storage technology will be a critical asset to Green Energy Renewable Solutions and, by association, to Nicon Industries A/S,” said Henrik Jensen, CEO, Nicon Industries A/S. “EnerVenue’s technology features exceptional longevity and durability with minimal maintenance required, and its fire-safe properties are especially critical in our expected applications. EnerVenue’s transformational technology will help Green Energy Renewable Solutions provide superior value to our global customer base.”

Initial projects are expected to be onshore but to support Nicon’s long-term goals, Green Energy’s energy storage solutions must meet particularly strict DNV certification and CE certification mandates for systems deployed in the offshore and maritime market. EnerVenue’s unique metal-hydrogen technology gives Green Energy exceptionally long battery life with low maintenance requirements and zero fire propagation risk—an especially crucial safety and compliance factor in offshore locations such as oil rigs.

“By 2024, Nicon´s forklifts will be converted from fossil fuel to electric power and will be charged with Green Energy battery containers,” said Jens Juul COO Green Energy / Nicon Industries A/S.  “Additionally, the power needed for our sea fastenings jobs on wind installation vessels will be supplied from our own battery containers charged overnight with renewable energy coming from the windfarms.”

“Green Energy’s maritime and offshore renewable energy applications offer use cases where the safety, flexibility, and maintenance-free durability of our battery vessels deliver compelling business opportunities and competitive differentiators,” said Randy Selesky, CRO, EnerVenue. “This industry has a particularly outsized and urgent opportunity to benefit from clean energy modernization, and we’re proud to now work with Green Energy to bring our technology into these applications for the first time.”

Many of Green Energy’s planned renewable energy projects are associated with a push by European Union countries to ramp up offshore wind power, decarbonize the maritime industry, move away from volatile gas imports, and more quickly and completely achieve climate goals.

The Master Supply Agreement adds to EnerVenue’s recent supply deals, including agreements with Pine Gate Renewables and Sonnell Power Solutions.

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. The company is headquartered in Fremont, California.

Continuing to expand globally, EnerVenue will accelerate the clean energy transformation into Puerto Rico’s industrial sector through the new partnership with Sonnell

FREMONT, Calif. and BAYAMÓN, Puerto Rico – June 2, 2022 – EnerVenue, the first company to bring metal-hydrogen batteries to the clean energy revolution, today announced an MOU agreement with Sonnell Power Solutions, a division of Grupo Sonnell. Under the terms of the deal, Sonnell Power Solutions will procure and deploy 40 MWh of EnerVenue’s EnerStation battery systems in 2023, with volume increasing to 420 MWh in 2024 and 2025.

Puerto Rico-based Grupo Sonnell, the leader in transportation  and logistics services in Puerto Rico , is aggressively expanding into the energy sector through its new subsidiary Sonnell Power Solutions. Puerto Rico faces rising demand for alternative energy and grid-resilient solutions, particularly following the destruction caused by Hurricane Maria in 2017 and the continuing power grid deficiencies left in the storm’s aftermath. Puerto Rico’s industrial sector has remained particularly ready for widespread energy transformation, with businesses actively seeking transitions into renewable energy solutions.

“The industrial sector in Puerto Rico faces a crucial and time-sensitive need for more sustainable, affordable, and reliable energy,” said José Rodríguez Varela, President, Sonnell Power Solutions. “EnerVenue fits into our mission to provide the off-grid alternative energy path forward that industrial businesses are so eager to adopt – one that is safe and built to last. We’re also a company where environmental concerns cut across every aspect of our business. EnerVenue’s storage solutions enable us to reduce the critical midday demand on the grid – and significantly lower energy costs – for industrial customers. We anticipate that EnerVenue will become a cornerstone technology for us, where we are able to fulfill the market’s energy transformation needs now and going forward.”

EnerVenue’s energy storage technology does not have any fire or thermal runway risk and delivers differentiated tolerance of extreme temperature and environmental conditions. These capabilities make EnerVenue’s systems a superior fit for industrial use cases, driving Sonnell Power Solutions’ decision to partner with the company. Looking forward, Sonnell Power Solutions plans to leverage its EnerVenue-based capacity to expand into serving large commercial and government energy customers, and to power its facilities and  electric fleet  as Grupo Sonnell pursues its aggressive environmental impact goals.

“Grupo Sonnell continues to be a proven leader delivering business value to industrial enterprises, always doing so with a clear-eyed focus on their own environmental impact,” said Randy Selesky, Chief Revenue Officer, EnerVenue. “Our battery systems excel in meeting Sonnell Power Solutions’ goals, and we’re proud to enter into this agreement to expand EnerVenue’s technology into Puerto Rico for the first time.”

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. The company is headquartered in Fremont, California.