Hong Kong Property Tycoon Peter Lee Leads $300 Million Round In U.S. Battery Startup [Forbes]
HENDERSON LD DEV S/ADR (HLDCY)
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Source: Forbes
Peter Lee, the cochairman of Hong Kong property-to-energy group Henderson Land, led a $300 million Series B extension round in California-based energy storage startup EnerVenue. Lee made the investment via Full Vision Capital, his Hong Kong-based family office, EnerVenue said in a statement on Tuesday. The round saw participation from Hong Kong Investment Corp., the city's government-owned investment company. EnerVenue said it will establish its regional headquarters in Hong Kong and an R&D center there to draw scientists for materials science research. The startup added that it will use the funding to “further accelerate the large-scale industrial application of the energy storage technology.” “The capital is crucial for further R&D of our core technologies, ramp-up of large-scale manufacturing, reinforcement of supply-chain robustness, and expansion of global commercial reach,” said EnerVenue CEO Henning Rath in the statement. The startup declined to disclose its valuation.
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