The alliance of manufacturers Renault, Nissan and Mitsubishi, has invested in the Californian battery startup Enevate via its venture capital subsidiary Alliance Ventures. The amount of the strategic investment is not known.
Enevate has developed a battery technology on the basis of silicon anodes called HD-Energy. This technology will make it possible to build very fast-charging lithium-ion batteries with a high energy density. For electric vehicle owners, this means fast charging within five minutes – even at low temperatures.
Enevate is based in Irvine, California. The company currently grants licenses for its silicon-dominant HD-Energy Technology to battery and electric vehicle manufacturers in order to quickly generate production volumes.
François Dossa, Global Vice President for Ventures and Open Innovation, sees the participation as an opportunity to promote the development of Enevate’s innovative electrode technologies. “Continued development in this critical field will help us accelerate the electrification of our vehicles,” he adds.
The transaction is the latest technology acquisition by Alliance Ventures. The subsidiary of Renault-Nissan-Mitsubishi was founded at the beginning of the year to support promising start-ups, independent entrepreneurs and early-stage new developments. Alliance Ventures will make a billion dollars available over five years.
The first deal Alliance Ventures made earlier this year was a strategic investment in Ionic Materials, a U.S. company developing cobalt-free battery materials for solid-state batteries.