Enevate aims for five-minute EV charging

Thai energy giant Bangchak has invested in California-based Enevate Corp whose innovative battery technology is addressing extreme-fast charge times for electric vehicles.

“With this investment, Bangchak becomes an important partner in our mission to provide advanced battery technology that will help drive the growth of global EV markets with as little as five-minute charging times,” Enevate chief executive officer Robert A. Rango says.

“We see a day in the not-too-distant future when EV drivers will be able to pull up to drive-through charging stations that will look much like today’s gas stations, charge up and be back on the road in five minutes.”

Bangchak Corporation president and chief executive officer Chaiwat Kovavisarach says Enevate is renowned for its expertise in the development of innovative extreme-fast charging lithium-ion batteries for EVs, with an ability to charge 10 times faster than current conventional batteries.

“We are excited to be a part of their pioneering work.”

The companies did not disclose the investment amount.

Enevate’s HD-Energy Technology for EVs features five-minute fast charging with high energy density and long driving range with added focus on low-temperature operation for cold climates, low cost and safety benefits.

It also licenses the silicon-dominant technology to battery and EV automotive manufacturers and suppliers worldwide.

Investors include Renault-Nissan-Mitsubishi (Alliance Ventures), LG Chem, Samsung, Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, Lenovo and CEC Capital.

Visit www.enevate.com

for more information.