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

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...