FREMONT, Calif., May 17, 2022 (GLOBE NEWSWIRE) -- EnerVenue, the first company to bring metal-hydrogen batteries to the clean energy revolution, today announced a multi-year agreement with leading solar and energy storage developer, Pine Gate Renewables. Under the terms of the deal, Pine Gate Renewables will procure and deploy 2400 MWh of EnerVenue’s battery energy storage systems in the United States to support their growing energy storage project pipeline.
As a leading renewable energy company developing and financing solar and energy storage projects throughout the United States, Pine Gate Renewables currently manages more than one gigawatt in operational assets, with more than 16GW in active development across the country. Under the terms of the agreement, Pine Gate Renewables will deploy EnerVenue battery systems to support its growing pipeline of projects over the next four years, leveraging EnerVenue’s uniquely robust, safe, cost-efficient energy storage technology capable of delivering multiple power cycles each day.
EnerVenue’s differentiated battery technology has continued to drive rapid company growth since its founding in 2020. EnerVenue raised $125 million in Series A funding, now has 140 employees, and continues to accelerate hiring of engineering talent.
Quotes
“Pine Gate Renewables excels at launching and operating renewable energy and energy storage projects, and is an ideal partner for deploying EnerVenue’s innovative battery systems,” said Randy Selesky, Chief Revenue Officer, EnerVenue. “We’re proud to work with Pine Gate in expanding renewable energy usage to new locations, businesses, and partners across the country, and we are excited for what the next four years will bring for both of our organizations.”
“EnerVenue batteries offer a differentiated value proposition – lower degradation across a wide temperature band, and lower cost for maintenance and augmentation, whilst posing no fire or thermal runaway risk. These batteries also have a stackable form factor and can last for more than 30-years while being able to cycle multiple times a day,” said Raafe Khan, Director of Energy Storage at Pine Gate Renewables. “We are proud to partner with EnerVenue in bringing this technology to our customers, further bolstering our unwavering commitment to strengthen the domestic supply chain and build a sustainable energy storage ecosystem in the United States.”
About EnerVenue
EnerVenue builds simple, safe, and cost-efficient energy storage solutions for the clean energy revolution. Based on technology proven over decades under the most extreme conditions, EnerVenue batteries are refined and scaled for large renewable energy integration applications. The company is headquartered in Fremont, California.
About Pine Gate Renewables
Pine Gate Renewables is a leading renewable energy company focused on project development and strategic financing of solar and storage projects throughout the United States. The company’s Pine Gate Impact initiative contributes to multiple non-profit organizations aimed at improving the environment and local communities. Headquartered in Asheville, NC, Pine Gate Renewables made the Inc. 5000 list in 2021, placing at #37 and named to Fast Company’s Most Innovative Companies list in 2021. Pine Gate Renewables works every day to achieve its mission to “Get Solar Done.” For more information, visit pinegaterenewables.com
