Aramco-Backed EnerVenue Sets Sights on Saudi Arabia to Scale Long-Duration Energy Storage
EnerVenue, the U.S.-based energy storage pioneer, is accelerating its expansion into the Middle East, with a primary focus on the Saudi Arabian market. Backed by Aramco Ventures, the venture capital arm of Saudi Aramco, EnerVenue is leveraging its low-cost, eco-friendly metal-hydrogen battery technology to meet the region's surging demand for renewable energy storage. CEO Henning Rath confirmed that Aramco Ventures has been a pivotal supporter since the company’s Series A round, recently bolstered by a $300 million Series B extension led by Hong Kong’s Full Vision Capital.
The company aims to capitalize on Saudi Arabia’s massive investments in solar energy and grid stabilization. EnerVenue’s unique water-based electrolyte technology allows its batteries to operate efficiently in extreme temperatures without the intensive cooling requirements of traditional lithium-ion systems. As the Kingdom pushes toward its ambitious renewable energy targets, EnerVenue is currently collaborating with regional power sector stakeholders and expects to announce commercial pilot projects in the coming months, marking a new chapter in the UAE-Saudi energy storage landscape.