Enevate Triples Space with 22,000-Square-Foot Lease
October 04, 2011 09:33 AM Eastern Daylight Time
IRVINE, Calif.–(EON: Enhanced Online News)–Enevate Corporation, a developer of next-generation rechargeable lithium-ion batteries for smartphones, tablets and other applications, has leased about 22,000 square feet of space at the Irvine Company’s University Research Park, a 185-acre campus designed to foster collaboration between industry and academia.
“101 Theory Drive: a Neuroscientist’s Quest for Memory.”
The company is relocating its headquarters in January to 101 Theory in University Research Park from the Irvine Spectrum area, where it now has about 7,000 square feet of space. Enevate has about 30 employees and is looking to grow to more than 50 by the end of 2012.
Enevate develops advanced lithium-ion batteries utilizing its novel HD-Energy™ Technology that enables significantly higher energy density when compared to today’s conventional batteries. Enevate’s HD-Energy batteries for smartphones and tablets are smaller, significantly thinner and provide for longer runtime, addressing major consumer complaints.
The company selected University Research Park for its proximity to John Wayne and Los Angeles International airports, major freeways, the area’s pool of employees and to be next to the University of California, Irvine, according to Brian Wong, Enevate’s president and chief executive officer.
“Enevate intends to revolutionize 3G and 4G smartphones and tablets by achieving significantly longer battery runtime and with thinner form factors, while also powering the next-generation of hardware features and software capabilities,” Wong said. “University Research Park, alongside a university that is a leader in energy storage, is the perfect setting to do that.”
Enevate evolved from UCI research. Dr. Benjamin Park, Enevate’s cofounder and chief technology officer, earned his doctorate in mechanical and aerospace engineering from UCI, where he worked on the technology behind Enevate’s batteries with Professor Marc Madou, who sits on the company’s technical advisory board and also is a cofounder.
The company picked the facility at 101 Theory for the building’s existing chemical laboratory space that Enevate plans to utilize and customize for energy storage research and development. The building once was used by UCI neuroscientist and entrepreneur Gary Lynch, who was profiled in the book “101 Theory Drive: a Neuroscientist’s Quest for Memory.”
Opened in 1996, University Research Park was developed by the Irvine Company in partnership with UCI. Enevate joins other technology companies at University Research Park, including Broadcom Corp., Cisco Systems Inc. and Intel Corp.
“With cutting-edge products and ties to UCI, Enevate is ideally suited to University Research Park,” said Steve Case, executive vice president of Irvine Company Office Properties. “Enevate showcases URP’s role as a hub for growing companies and for research done in collaboration with UCI.”
Lease terms at 101 Theory weren’t disclosed. Craig Knox of Hughes Marino Inc. and Drew Netherton of UGL Services represented Enevate. Jeff Shaw represented the Irvine Company in-house.
About Enevate (enevate.com)
Enevate Corporation is a leading rechargeable energy storage technology company based in Irvine. Enevate has breakthrough technology delivering the promise of tomorrow’s battery capacity in today’s standard Li-ion ecosystem focused on 3G and 4G smartphones and mobile consumer electronics. Enevate’s batteries are based on innovative materials and battery structures that deliver higher capacity in smaller sizes while maintaining plug-and-play compatibility with existing Li-ion battery applications. The company is privately held; investors include Mission Ventures and Draper Fisher Jurvetson. Enevate, the Enevate logo and HD-Energy are trademarks of the Enevate Corporation.
About the Irvine Company
Founded in 1864, the Irvine Company is an internationally renowned real estate development company known for its award-winning master-planned communities, its vast portfolio of high-quality investment properties, and its leadership in conservation and natural resource management. The growing real estate portfolio encompasses office, apartment, retail and resort holdings located throughout California’s premier markets, including assets in San Diego, Orange and Los Angeles Counties, and holdings in Northern California. As a steward of some of America’s most beautiful and scientifically important open space and parklands, the company has donated to Orange County more than half of the historic 93,000-acre Irvine Ranch in Orange County — 50,000 acres — to permanently preserve these lands. The U.S. Department of Interior and the State of California have designated these parklands as “Natural Landmarks,” one of the most prestigious land preservation designations. The privately held, diversified company traces its roots to the 1860s with the formation of The Irvine Ranch® from Mexican and Spanish land grants.
