Renault-Nissan-Mitsubishi invests in the latest round of funding in Enevate, an advanced lithium-ion battery technology company based in Irvine, CA.
The investment is through Alliance Ventures, Renault-Nissan-Mitsubishi’s strategic venture-capital arm launched earlier this year. It supports start-ups, early-stage development and entrepreneurs involved in next-generation systems for the automotive industry.
Francois Dossa, global vice president-ventures and open innovation, says the investment allows Renault-Nissan-Mitsubishi to support the development of Enevate’s proprietary cutting-edge electrode technology.
“Continued development in this critical field will help us accelerate the electrification of our vehicles,” Dossa says in a statement. “Enevate’s technology, which could enable EVs to charge in the same time as refueling conventional cars, is seen as a leader in its field,” Dossa says.
Renault-Nissan-Mitsubishi says Enevate’s HD-Energy Technology for EVs features 5-minute fast charging with high energy density and long driving range, as well as low-temperature operation in cold climates, low cost and safety benefits over conventional graphite Li-ion batteries.
“This short charging time is superior to any other Li-ion technology available today to meet automotive EV requirements for energy density, range, safety and cost,” the automakers say.
Enevate licenses its silicon-dominant HD-Energy Technology to battery and electric-vehicle manufacturers and suppliers worldwide.