Hong Kong billionaire-backed startup invests in innovative battery to take on energy-storage leaders.

EnerVenue, a start-up co-founded by Peter Lee Ka-kit’s Full Vision Capital, is manufacturing a new type of battery aimed at competing with existing energy-storage technologies, primarily led by mainland Chinese companies. With a factory in Changzhou, China, EnerVenue currently produces 250 megawatt-hours (MWh) of nickel-hydrogen batteries annually, with plans to scale up to one gigawatt-hour (GWh) by 2027. CEO Henning Rath stated that the company sees itself as highly competitive in the energy-storage segment, emphasizing its strong performance on key metrics.