Alliance Ventures backs US Li-ion battery co Enevate

Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, has invested in the latest funding round of California-based lithium-ion (Li-ion) battery technology company Enevate Corporation.

The financing, of an undisclosed size, aims to advance Li-ion battery technology for electric vehicles (EVs).

"This strategic investment allows us to support the development of Enevate proprietary cutting edge electrode technology. Continued development in this critical field will help us accelerate the electrification of our vehicles,” said Francois Dossa, Alliance Global Vice President, Ventures and Open Innovation.

Enevate says its Li-ion batteries are capable of extreme fast charging with high energy density and safety. The technology makes it possible for EVs to be charged in the same time as refuelling conventional cars, the announcement mentions.

The company's HD-Energy Technology allows for five-minute fast charging, currently the shortest charging time provided by a Li-ion technology according to Enevate. It also enables low-temperature operation in cold climates.

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