e-Zinc Secures $25 Million Series A Financing for Long-Duration Energy Storage Advancement

e-Zinc, the pioneer in zinc-air battery, announced that it has raised $25 million in Series A financing led by Anzu Partners, with additional funding from BDC Capital, Toyota Ventures, and Eni Next.

April 08, 2022. By News Bureau

e-Zinc, the pioneer in zinc-air battery, announced that it has raised $25 million in Series A financing led by Anzu Partners, with additional funding from BDC Capital, Toyota Ventures, and Eni Next.

Existing investors, including Seed Round lead investor Energy Foundry, also took part. e-Zinc will use this funding to kickstart the pilot production of its first commercial energy storage systems for field deployment.

With increasing reliance on intermittent renewable energy across the world, there is a higher demand for long-duration storage capabilities that further enhance the reliability and durability of renewable energy assets.

e-Zinc recently revealed that its zinc-air batteries need several days to discharge energy at rated power, in comparison to only a few hours for other battery types.

In the near future, e-Zinc intends to displace diesel generators with low-emission alternatives for half-day to five-day backup power use cases.

"Since raising seed funding in 2020, we have refined our technology and achieved many critical technical milestones, such as demonstrating how our system pairs to solar and grid generation, developing the Balance of System (BoS), and implementing a software and controls layer," said James Larsen, CEO, e-Zinc. "With this Series A financing, we now have the opportunity to execute high-value commercial pilot projects that provide in-field validation for our batteries."

Toyota Ventures will help guide e-Zinc to scale its production and supply chain efforts. Eni Next is the corporate venture capital vehicle of Eni, where e-Zinc can potentially make use of its technology.

Anzu Partners and BDC Capital offer deep technical, investment, and operational expertise that will assist e-Zinc in developing its business strategy and commercializing its technology.

“Anzu sees tremendous potential in zinc-air batteries to support renewable energy in both on- and off-grid applications,” said David Michael, Managing Partner, Anzu Partners. “We are enthusiastic about e-Zinc’s vision for a renewable energy future, and we look forward to supporting the company to demonstrate the value of its technology in real-world settings.”

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