Thailand-based energy company Bangchak has made a “significant” undisclosed investment in US-based advanced lithium-ion battery tech developer Enevate.
CEO of California-based Enevate, Robert Rango, said the deal meant 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”.
Chaiwat Kovavisarach (pictured), president and CEO of the Bangchak Corporation Public Company, said: “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.”
Enevate licenses its “silicon-dominant HD-Energy Technology” to battery and EV automotive manufacturers and suppliers worldwide. The company said other investors backing its activities include South Korean battery makers LG Chem and Samsung, and the Renault-Nissan-Mitsubishi car-making alliance.