EnerVenue Completes Deal With Precision Process, Precious Plate
With two five-year agreements in place, EnerVenue has established a secure supply of plating equipment and materials as the cleantech company outgrows its startup stage and shifts into high-volume production.
EnerVenue (Fremont, California), the first company to bring metal-hydrogen batteries capable of 30,000 cycles to clean energy, announces it has completed agreements with Precision Process (Niagra Falls, New York) and Precious Plate (Niagra Falls, New York). The deals with the companies, both of whom are owned by the same governance entity, enable EnerVenue to secure its plating equipment and materials supply requirements and to achieve an accelerated pathway to high-scale battery production.
Under the first agreement, Precision Process will serve as EnerVenue’s exclusive supplier of plating manufacturing equipment. Precision Process will build all plating lines to be installed at EnerVenue’s current and future manufacturing sites, per the terms of this five-year deal.
Under the second five-year agreement, Precious Plate will exclusively supply EnerVenue with plated anode materials — essential to the manufacturing of EnerVenue’s battery vessels.
With these agreements in place, EnerVenue has established a secure supply of plating equipment and materials, as well as price certainty, as the cleantech company outgrows its startup stage and shifts into high-volume production.
Frank Blohm, COO of EnerVenue, says, “By partnering with the trusted commercial plating experts at Precision Process Equipment and Precious Plate, we’ve reaffirmed our path for efficient, high-speed battery production that will meet our growth goals now and well into the future.”
Precious Plate has established a dedicated manufacturing location in Niagara Falls, New York, to ensure the protection of EnerVenue’s intellectual property, and to provide an exclusive operational commitment. The facility will expand EnerVenue’s anode production capacity to 5 GWh (gigawatt hours) annually by 2026. Additional land has also been secured to support in excess of 10 GWh annually as EnerVenue grows. Precious Plate is currently hiring to fill a variety of roles at the facility.
Following a $125 million oversubscribed Series A funding round completed in late 2021, EnerVenue’s differentiated battery technology has seen increasing demand. Among its most recent deals, EnerVenue announced a four-year agreement with Pine Gate Renewables (Asheville, North Carolina) to supply 2400 MWh as a strategic lithium-ion alternative to grid-scale energy storage. The company also announced a 420 MWh deal to support Sonnell Power Systems in Puerto Rico.
