Tuesday, April 16, 2019

Enevate Gets Funding Injection From Thai Energy Giant

Irvine-based battery charging technology developer Enevate, which is aiming its technology at the electric vehicle (EV) market, announced this morning that it has received a round of funding from Bangchak, a Thai energy company. Enevate said the funding came via the Bangchak Initiative and Innovation Center (BiiC). Financial details and terms of the deal were not announced by the company. Enevate is working on extremely fast EV charging technology,which it says would make EV charging as fast and easy as pumping gasoline. Enevate currently has systems that it says charge EV batteries about 10x faster than conventional chargers, which it says it licenses to battery and EV automotive manufacturers and suppliers. The company is led by Robert A. Rango. The company had previously received funding from another overseas investor, South Korea's LG Chem. More information »