Hong Kong tycoon-backed start-up bets on new battery to challenge energy-storage giants

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Hong Kong tycoon Peter Lee Ka-kit’s family office-backed start-up, EnerVenue, is manufacturing nickel-hydrogen batteries in China to challenge major energy-storage providers amid growing demand for green energy. The California-based company produces 250 MWh annually with plans to expand capacity.

EnerVenue, a start-up co-founded by Full Vision Capital, the family office of Hong Kong tycoon Peter Lee Ka-kit, has begun manufacturing a new battery it expects to challenge existing energy-storage technologies dominated by mainland Chinese players, amid surging global demand for green energy. The California-based company can now produce 250 megawatt-hours (MWh) of nickel-hydrogen batteries annually at its factory in Changzhou, in eastern China’s Jiangsu province, and plans to raise capacity to...