IRVINE, Calif.--(BUSINESS WIRE)--Enevate and NantG Power, two pioneering battery innovation companies enabling high-speed charge and energy density battery technologies for electric vehicles (EVs) and other markets, announced a strategic alliance to manufacture a next generation battery. The two companies will combine their proprietary cathode and anode innovations to commercialize and scale up a breakthrough silicon-dominant battery technology in the transportation, mobility, and other markets.
The partnership and license agreement will allow Enevate and NantG Power to provide breakthrough solutions to tackle the ever-increasing demands of the battery market and to push the limits of current battery technologies further while keeping cost and sustainability targets a critical priority. This partnership will help increase market penetration by providing everyone with affordable, revolutionary, next-generation battery technology.
Based in El Segundo, California, NantG Power, a member of the NantWorks ecosystem of companies, is a leader in ultra-high-performance lithium-ion battery cell technology with a focus on revolutionizing energy density and fast charge capability. With its radical new approach to designing and manufacturing batteries focusing on improved performance, cost, and sustainability using AI and Multiphysics computer models to create application-specific cells, NantG Power aims to double the current battery performance. To achieve this goal, NantG Power is focusing on novel anode/cathode nano-materials, advanced 3D ionically and electronically conductive scaffolds enabling higher active material loadings, next-generation electrolytes, engineered interphases, improved manufacturing methods, and enhanced analytics.
To scale the next-generation battery development and electric micromobility, NantG Power and Enevate plan to manufacture these batteries at multiple GWh capacity and integrate them into products that are affiliated with NANT such as heavy lift drones, electric scooters and rapid charge storage systems.
The production license agreement with NantG Power is a significant milestone in accelerating Enevate's technology towards commercialization. Enevate’s breakthrough silicon-dominant battery technology delivers up to 10 times faster charging than conventional lithium-ion batteries. It enables high energy densities and various other benefits, including improved safety, low-temperature operation for cold climates, and carbon footprint. Enevate's technology is compatible with state-of-the-art battery manufacturing equipment and does not require capital-intensive new production processes. With its high-speed charge capability, Enevate's technology allows a battery to charge in as fast as five minutes while delivering industry-leading energy density and performance.
"I am extremely excited to work with Enevate as our future partner to enable ultra-high-performance battery cell technology. We are highly impressed by the revolutionary performance of Enevate's silicon dominant anode technology, and this license agreement is an important step for NantG Power to accelerate the development and commercialization of our combined breakthrough battery cell technologies," said Dr. Patrick Soon-Shiong, CEO and Chairman of the Board at NantWorks LLC and NantG Power.
"We are very excited about this production license agreement with NantG Power. This license agreement is a testament to Enevate's breakthrough technology and the next milestone towards further commercialization. I am convinced that the combined expertise of Enevate and NantG Power will further position us at the forefront of battery technology, offering high-speed charge, high energy density, and improved safety," said Enevate CEO Bob Kruse. "We are thrilled to establish this great partnership with NantG Power since it shows the trust of our partner in our technology and the performance it enables and further validates Enevate's business model."
ABOUT ENEVATE (www.enevate.com)
Enevate develops and licenses advanced battery technology for electric vehicles (EVs), with a vision of EVs charging as fast as refueling gas cars, accessible and affordable to everyone, and accelerating EVs’ mass adoption. Boasting a portfolio of 649 patents issued and in process, Enevate’s pioneering advancements (including leveraging accelerated battery testing and machine learning) in silicon- dominant anodes and cells have resulted in battery technology that features five-minute extreme fast charging with high energy density, low-temperature operation for cold climates, low cost, and safety advantages over conventional batteries.
Enevate’s vision is to develop and propagate EV battery technology that contributes to a clean and sustainable environment. The Irvine, California-based company’s investors include Renault-Nissan- Mitsubishi (Alliance Ventures), LG Chem, Samsung Venture Investment Corp, Fidelity Management & Research Company, Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, Lenovo, CEC Capital, and Bangchak. Enevate®, the Enevate logo, HD-Energy®, XFC-Energy® and eBoost® are registered trademarks of Enevate Corporation.
ABOUT NantG Power (www.nantgpower.com)
NantG Power delivers battery technology breakthroughs that enable the world’s fastest growing industries including renewable energy storage, electrification of automobiles, aviation, and heavy equipment, consumer electronics and data centers among others. We are dedicated to intelligently identifying, developing, and deploying the most innovative technologies in order to leave the world a better place than we found it by using a combination of novel materials, designs, and approaches, along with world-class data analytics developed for solving another crucial challenge of tomorrow – cancer.
