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Enevate Corporation Raises $24M in Series B Funding



             Enevate Corporation Raises $24M in Series B Funding

Funds to accelerate commercialization of next generation Li-ion batteries with
HD-Energy™ Technology

PR Newswire

IRVINE, Calif., Dec. 12, 2012

IRVINE, Calif., Dec. 12, 2012 /PRNewswire/ -- Enevate Corporation, a leading
developer of advanced rechargeable lithium-ion (Li-ion) batteries, has
completed Series B financing of $24M.  The round includes new investors CEC
Capital, Tsing Capital, Presidio Ventures – a Sumitomo Corporation company,
other strategic investors, and existing investors Mission Ventures and Draper
Fisher Jurvetson.

(Logo:  http://photos.prnewswire.com/prnh/20121212/LA28283LOGO)

Based in Irvine, California, Enevate is focused on developing next generation
Li-ion batteries for smartphones, tablets, and ultra-thin notebook PCs,
delivering significantly higher energy density in thinner form factors to
enable longer runtimes in less space.  Its novel HD-Energy Technology utilizes
silicon composite anodes for rechargeable Li-ion polymer batteries which
dramatically increase energy density over conventional graphite anode cells.

"Enevate is a clear leader in silicon technology for Li-ion batteries," said
Jin Guo, CEC Capital's vice president and lead investor.  "We believe there is
an excellent fit for its targeted consumer electronics devices."

Brian Wong, CEO of Enevate, added, "We are pleased to bring on board a strong
set of new financial and strategic investors that were chosen due their focus
on our ecosystem and their synergies with our focus on bringing first products
to market.   As a uniquely fabless Li-ion battery company, we are teaming with
an Asia-centric manufacturing ecosystem.  The funds enable Enevate to
accelerate commercialization of its demonstrated HD-Energy Technology and move
into production for our customers' next generation platforms."

"We believe Enevate has developed breakthroughs for silicon based Li-ion
batteries that can be easily used in existing Li-ion battery applications,"
said Ian Zhu, Partner at Tsing Capital.  "Enevate's disruptive Li-ion battery
technology is clearly differentiated from other approaches and is
manufacturable."

Enevate was advised by Pantek Partners, LLC for a portion of this financing.

About Enevate (www.enevate.com)

Enevate Corporation is an advanced rechargeable energy storage company based
in Irvine, CA.  Enevate's breakthrough HD-Energy™ Technology delivers the
promise of tomorrow's battery capacity in today's standard Li-ion ecosystem
focused on next generation smartphones, tablets, and ultra-thin notebook PCs.
 Enevate's batteries are based on innovative materials and battery
architectures that deliver higher energy capacity in smaller and thinner
sizes, while maintaining compatibility with existing Li-ion battery
applications.  Investors include Mission Ventures, Draper Fisher Jurvetson,
Tsing Capital, Presidio Ventures, and CEC Capital.  Enevate, the Enevate
logo, and HD-Energy are trademarks of the Enevate Corporation. 

Contact:
Jarvis Tou
jarvis@enevate.com

SOURCE Enevate Corporation

Website: http://www.enevate.com
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