Lithium-free energy storage pioneer EnerVenue appoints internationally renowned tech executive Henning Rath as CEO and closes $300 million Series B funding extension round led by Full Vision Capital

EnerVenue Holdings, Ltd. ("EnerVenue"), a company commercializing energy storage solutions designed to behave like durable infrastructure, today announced the appointment of Henning Rath as Chief Executive Officer alongside the closing of a U.S. $300 million extension of its Series B preferred stock financing round. The extension round was led by Full Vision Capital, included an additional new investor, and signifies renewed enthusiasm for the energy storage technology innovator.

Rath, an internationally recognized technology executive with a distinguished record of building billion-dollar companies with deep expertise in the global energy sector, guided the company to this successful funding milestone. The capital will accelerate EnerVenue's transition from advanced technology maker to high-volume manufacturing industrial leader.

"Henning's leadership has been pivotal in positioning EnerVenue for this growth phase," said Dr. Yi Cui, chairman of EnerVenue. "His strategic vision and operational credibility were instrumental in building investor confidence and closing this significant round. His deep expertise in industrial scaling and global market execution is exactly what EnerVenue needs to achieve its ambitious manufacturing and deployment goals."

Signaling an advancement of prior company strategy, the capital will support the rapid scale-up of EnerVenue's high volume manufacturing operations in Changzhou, China - known as the world's epicenter of battery manufacturing expertise. The shift allows the company to optimize its cost structures, leverage the region's unrivaled battery know-how, and service its expanding global customer base more efficiently. The funding will also accelerate supply chain development and commercial expansion.

R&D, conducted in Silicon Valley, California - home to technology innovation - will focus on enhancing the company's next-generation, aqueous metal cells, which offers a unique combination of durability, safety, and low total cost of ownership, creating significant demand for utility, commercial, and industrial storage applications.

To expand its global footprint, EnerVenue is supported by a strong base of strategic investors, including Aramco Ventures. Over the coming months, the company plans to expand its commercial operations across Asia, the Middle East, and Europe. "We see EnerVenue's high potential for its disruptive energy storage technology that can transform the reliability and safety of critical infrastructure and utilities at scale," said Ionel Nechiti, Investment Director at Aramco Ventures.

"This $300 million extension of Series B preferred stock funding is a testament to the strength of EnerVenue's technology and the entire team's execution," said Rath. "This capital provides the foundation to invest decisively in our technology roadmap, secure the supply chain for gigawatt-scale production, and build a robust global customer footprint. Our short and mid-term capacity targets of 250 MWh and 1 GWh are now fully funded."

"We invest behind exceptional leadership and foundational technology," said Alan Chan, Managing Partner at Full Vision Capital, who co-founded EnerVenue and led the investment for this round. "Rath's proven track record and clear operational strategy for scaling EnerVenue were critical factors in our investment decision. This partnership and new capital will enable the critical investments needed to establish EnerVenue as a global player in long-duration energy storage."

Prior to EnerVenue, Rath was Managing Director and Chief Supply Chain Officer at greentech unicorn Enpal, Germany's leading residential renewable energy provider and one of Europe's top green energy platforms. Before Enpal, Rath built CIRC, the renowned e-scooter startup that was later acquired by Bird, where he led the Asian markets. Rath began his career as an engineer after earning his Bachelor of Science in industrial engineering and a Master of Business Administration at UoAS Muenster. While gaining experience in global markets including Germany, Australia, India, and China, Rath also further studied at both Stanford and Harvard Universities.

About EnerVenue

EnerVenue is commercializing energy storage systems designed to behave like infrastructure, prioritizing endurance, safety, and lifecycle economics over short-term optimization. The company's systems enable continuous, reliable power for the energy transition, grid resilience, and the demands of AI-driven energy systems. Learn more at www.enervenue.com.

About Full Vision Capital

Established in 2014, Full Vision Capital ("Full Vision") is a green capital fund founded by Dr. Peter Lee Ka-Kit. Full Vision incubates smart energy solutions and innovative environmental technologies to steer humanity towards a greener and more sustainable future. It strives to do well by doing good, nurturing ideas and businesses that are disrupting the energy industry to help address climate change and energy crises. Full Vision's portfolio spans a broad collection of pioneers and change-makers, comprising unicorns that it helped build from the ground up.

About Aramco Ventures

Aramco Ventures is the venture capital arm of Aramco, a world-leading fully integrated energy and chemical enterprise. Headquartered in Dhahran with offices in North America, Europe, and Asia, Aramco Ventures' strategic venturing programs invest globally in start-up and high-growth companies with technologies of strategic importance to its parent company, Aramco, primarily supporting its operational decarbonization, new lower-carbon fuels businesses, and digital transformation initiatives. Aramco Ventures also operates Prosperity7, the company's disruptive technologies investment program. For more information, please visit: www.aramcoventures.com

Disclaimer

This press release contains forward-looking statements, including statements regarding manufacturing capacity, commercial strategy, and future growth plans. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.