515m

Uncategorized

Battery Maker EnerVenue Secures $515M in Funding, According to Filing

EnerVenue, a startup that has developed an alternative to lithium-ion batteries for long-duration renewable energy storage, is raising $515 million in fresh equity, per an SEC filing seen by TechCrunch. The company is in the process of building a gigawatt-scale factory in Kentucky to produce its nickel-hydrogen batteries, an endeavor that’s estimated to cost $264 million. So far, EnerVenue has raised $308 million of the $515 million target, the filing says. Nickel-hydrogen batteries aren’t as energy dense as lithium-ion, meaning they won’t be competing for space in electric vehicles quite yet. The next challenge will be completing the factory, scaling production and sending its novel batteries out into the world.

Kira Kim
June 7, 2024

Uncategorized

Rocket Lab employs vertical integration strategy to secure $515M government satellite deal

The Space Development Agency is the mystery customer behind Rocket Lab’s up-to $515 million, 18-satellite order announced in late December, the two firms announced today. In a regulatory filing from December 21, Rocket Lab said it would “design, manufacture, deliver and operate 18 space vehicles” for an unnamed U.S. government customer. Under the contract, Rocket Lab will deliver and operate a prototype constellation in two orbital planes of nine satellites each. Rocket Lab will not be providing the communications payload, and company executives declined to name that provider during a press release Monday. “We welcome Rocket Lab as the newest member of Team SDA and our third performer on the T2TL- Beta program,” said Derek Tournear, SDA director.