Schlumberger New Energy led a round that will help the nickel-hydrogen battery developer finance construction of a Gigafactory.

US-based battery manufacturer EnerVenue secured $100m on Wednesday in a series A round featuring oil services provider Schlumberger and oil and gas supplier Saudi Aramco.

Schlumberger led the round through its New Energy division while Saudi Aramco invested through its corporate venturing subsidiary, Saudi Aramco Energy Ventures. Stanford University is also understood to have taken part in the round, according to TechCrunch.

EnerVenue is developing nickel-hydrogen batteries for use in grid-scale energy storage systems, a market set for significant growth…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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