Enevate Announces New Production License Agreement with JR Energy Solution, Enabling Further Scale-up of its Breakthrough Battery Technology

IRVINE, Calif.–(BUSINESS WIRE)–Enevate, a pioneering battery innovation company featuring extreme fast charge and high energy density battery technologies for electric vehicles (EVs) and other markets, announced a new production license agreement with JR Energy Solution (JR ES) to commercialize and further scale-up Enevate’s silicon-dominant XFC-Energy^® battery technology in the transportation, mobility and reserve power markets.

Based in South Korea, JR Energy Solution is an upcoming leader in manufacturing high performance lithium-ion electrodes and battery cells. With its unique electrode and battery foundry model, JR Energy Solution enables lithium-ion cell manufacturers and other partners to produce tailor-made lithium-ion electrode and cell solutions, while rapidly speeding up development time, commercialization and time to market. JR Energy Solution is known for its management team’s long history in lithium-ion battery manufacturing and its focus on quality and capable equipment. After its initial groundbreaking ceremony, JR Energy Solution is planning the start of its first manufacturing facility from Q4 of 2023.

This production license agreement with JR Energy Solution is the next milestone in Enevate’s commercialization plan utilizing its breakthrough silicon-dominant battery technology. At the same time, Enevate will accelerate JR Energy Solution’s market expansion and significantly expand its technology pipeline and manufacturing capacity output.

Enevate’s next-gen lithium-ion battery technology delivers up to 10 times faster charging than conventional lithium-ion batteries with high energy densities along with a host of other benefits, including improved safety and low-temperature operation for cold climates. Enevate’s technology is compatible with state-of-the-art battery manufacturing equipment and does not require capital intensive new production processes. With its extreme fast charge capability, Enevate’s technology allows for a battery to charge in as fast as five minutes.

“Combining Enevate’s revolutionizing technology with JR Energy Solution’s world-class manufacturing capabilities will accelerate our growth and expansion plans as we can now provide to our customers ultra-high performance electrode and battery technology that exceeds the constantly improving battery specification requirements,” said Duke Oh, CEO JR Energy Solution.

“This production license agreement with JR Energy Solution, Enevate’s third, is the next milestone in scaling the commercialization of Enevate’s breakthrough technology and positions us at the forefront of battery technology offering extreme fast charge, high energy density and improved safety,” said Enevate CEO Bob Kruse. “The agreement shows the confidence and trust of our partners in our technology and further validates Enevate’s business model.”

The ever-increasing requirements of the battery market push the limits of current battery technologies and keeping cost targets remains a critical priority to increase market penetration by making next-generation battery technology affordable to everyone. Therefore, Enevate’s battery technology was specifically designed to be manufacturable using existing production lines and equipment and is compatible with different lithium-ion cathode chemistries.

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 643 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.

Contacts

Bill Blanning

bblanning@enevate.com
+1 (714) 916-4309