CEO, ENEVATE, IRVINE
Firm developing fast-charging batteries for electric vehicles, now with a fast-charging expansion underway in Irvine Spectrum. Develops and licenses advanced battery technology for electric vehicles, with a vision of EVs charging as fast as refueling gas cars, while making them accessible and affordable to everyone, and accelerating EVs’ mass adoption.
THEN: Formed in 2005, the company calls itself one of the “early pioneers” working to make a new class of Li-ion batteries that utilizes silicon-dominant anodes. After initially focusing on cellphone batteries and other products, in 2016 it pivoted to the EV charging business, led by Rango, a former Broadcom exec.
NOW: Earlier this year signed a lease for over 125,000 square feet for a pre-production line and new HQ at 34 Parker Drive. New facility in the Irvine Spectrum represents a substantial growth from the company’s existing space of 20,000 square feet at UCI Research Park. “With Enevate’s expanding customer base, increased number of projects, and more employees we simply ran out of room at our current facility,” Rango said. Company boosted its worker base by 50% last year.
FUTURE: Enevate last year secured $81 million in Series E funding led by Fidelity Management & Research Co., bringing total investment in the Irvine firm to nearly $200M. An IPO is a consideration in the future, execs say.
IN THEIR WORDS: Of the expansion, Rango said: “This is a major milestone for the company during a very exciting time in mobility as the world transitions to electric vehicles.”
