Alliance Ventures Invests in Enevate to Advance Li-ion Battery Technology for Electric Vehicles

PR76276

PARIS and IRVINE, California, November 14, 2018 /PRNewswire=KYODO JBN/ --

Enevate's silicon-dominant Li-ion technology features extreme fast-charging

capabilities with high energy density and improved safety

Alliance Ventures, the strategic venture capital arm of

Renault-Nissan-Mitsubishi, has announced today that it has invested in the

latest round of funding in Enevate Corporation, an advanced lithium-ion

(Li-ion) battery technology company based in Irvine, California. This marks the

latest technology investment by Alliance Ventures, launched earlier this year

to support start-ups, early-stage development, and entrepreneurs at the cutting

edge of next-generation systems for the automotive industry.

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Francois Dossa, Alliance Global Vice President, Ventures and Open Innovation,

said: "We are pleased to participate in Enevate's latest funding round. 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."

The investment reflects the capability of Enevate in breakthrough Li-ion

batteries capable of extreme fast charging with high energy density and safety.

Enevate's technology, which could enable electric vehicles (EVs) to charge in

the same time as refueling conventional cars, is seen as a leader in its field.

"We share the common goal of making electric vehicles easier to use and adopt

in mass markets," says Enevate President and CEO Robert A. Rango. "We look

forward to our strategic partnership with Renault-Nissan-Mitsubishi, as they

are a global leader in electric vehicles and they understand the market needs

of EV consumers worldwide."

Enevate's HD-Energy(R) Technology for EVs features five-minute fast charging

with high energy density and long driving range, with the added capability of

low-temperature operation in cold climates, low cost, and safety benefits. 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.

Enevate licenses its silicon-dominant HD-Energy Technology to battery and EV

automotive manufacturers and suppliers worldwide to quickly achieve production

volume and drive adoption of next-generation features that take EVs to the next

level.

ABOUT RENAULT-NISSAN-MITSUBISHI

Groupe Renault, Nissan Motor Company and Mitsubishi Motors represent the

world's largest automotive alliance. It is the longest-lasting and most

productive cross-cultural partnership in the auto industry. Together, the

partners sold more than 10.6 million vehicles in nearly 200 countries in 2017.

https://www.alliance-2022.com/news/alliance-ventures-invests-in-enevate-to-advance-li-ion-battery-technology-for-electric-vehicles/

SOURCE: Renault-Nissan-Mitsubishi