Enervenue Names New CEO, Closes $300 Million Round

<p><strong>FREMONT<&sol;strong> &&num;8212&semi; EnerVenue Holdings&comma; a company commercializing energy storage solutions designed to behave like durable infrastructure&comma;  has hired Henning Rath as Chief Executive Officer alongside the closing of a U&period;S&period; &dollar;300 million extension of its Series B preferred stock financing round&period; The extension round was led by Full Vision Capital&comma; included an additional new investor&comma; and signifies renewed enthusiasm for the energy storage technology innovator&period;<&sol;p>&NewLine;<p>Rath&comma; a technology executive with a distinguished record of building billion-dollar companies with deep expertise in the global energy sector&comma; guided the company to this successful funding milestone&period; The capital will accelerate EnerVenue&&num;8217&semi;s transition from advanced technology maker to high-volume manufacturing industrial leader&period;<&sol;p>&NewLine;<blockquote><p>&&num;8220&semi;Henning&&num;8217&semi;s leadership has been pivotal in positioning EnerVenue for this growth phase&comma;&&num;8221&semi; said Dr&period; Yi Cui&comma; chairman of EnerVenue&period; &&num;8220&semi;His strategic vision and operational credibility were instrumental in building investor confidence and closing this significant round&period; His deep expertise in industrial scaling and global market execution is exactly what EnerVenue needs to achieve its ambitious manufacturing and deployment goals&period;&&num;8221&semi;<&sol;p><&sol;blockquote>&NewLine;<p>Signaling an advancement of prior company strategy&comma; the capital will support the rapid scale-up of EnerVenue&&num;8217&semi;s high volume manufacturing operations in Changzhou&comma; China &&num;8211&semi; known as the world&&num;8217&semi;s epicenter of battery manufacturing expertise&period; The shift allows the company to optimize its cost structures&comma; leverage the region&&num;8217&semi;s unrivaled battery know-how&comma; and service its expanding global customer base more efficiently&period; The funding will also accelerate supply chain development and commercial expansion&period;<&sol;p>&NewLine;<p>R&amp&semi;D&comma; conducted in Silicon Valley&comma; will focus on enhancing the company&&num;8217&semi;s next-generation&comma; aqueous metal cells&comma; which offers a unique combination of durability&comma; safety&comma; and low total cost of ownership&comma; creating significant demand for utility&comma; commercial&comma; and industrial storage applications&period;<&sol;p>&NewLine;<p>To expand its global footprint&comma; EnerVenue is supported by a strong base of strategic investors&comma; including Aramco Ventures&period; Over the coming months&comma; the company plans to expand its commercial operations across Asia&comma; the Middle East&comma; and Europe&period; &&num;8220&semi;We see EnerVenue&&num;8217&semi;s high potential for its disruptive energy storage technology that can transform the reliability and safety of critical infrastructure and utilities at scale&comma;&&num;8221&semi; said Ionel Nechiti&comma; Investment Director at Aramco Ventures&period;<&sol;p>&NewLine;<blockquote><p>&&num;8220&semi;This &dollar;300 million extension of Series B preferred stock funding is a testament to the strength of EnerVenue&&num;8217&semi;s technology and the entire team&&num;8217&semi;s execution&comma;&&num;8221&semi; said Rath&period; &&num;8220&semi;This capital provides the foundation to invest decisively in our technology roadmap&comma; secure the supply chain for gigawatt-scale production&comma; and build a robust global customer footprint&period; Our short and mid-term capacity targets of 250 MWh and 1 GWh are now fully funded&period;&&num;8221&semi;<&sol;p><&sol;blockquote>&NewLine;<blockquote><p>&&num;8220&semi;We invest behind exceptional leadership and foundational technology&comma;&&num;8221&semi; said Alan Chan&comma; Managing Partner at Full Vision Capital&comma; who co-founded EnerVenue and led the investment for this round&period; &&num;8220&semi;Rath&&num;8217&semi;s proven track record and clear operational strategy for scaling EnerVenue were critical factors in our investment decision&period; This partnership and new capital will enable the critical investments needed to establish EnerVenue as a global player in long-duration energy storage&period;&&num;8221&semi;<&sol;p><&sol;blockquote>&NewLine;