e-Zinc
Assembly Line
e-Zinc Secures USD $31M in Series A2 Funding to Advance Commercialization Initiatives
e-Zinc, the company enabling sustainable, long-duration energy storage with its zinc-air battery, announced it has raised an additional USD $31 million in follow-on funding to its $25 million Series A round. This oversubscribed Series A2 round was led by Evok Innovations, with additional investments from Mitsubishi Heavy Industries, Export Development Canada (EDC), and Ultratech Capital Partners. e-Zinc’s existing shareholders also participated, including Toyota Ventures, Eni Next, Anzu Partners, BDC, and Graphite Ventures. e-Zinc plans to use this financing to accelerate product development and complete the construction of its 42,000 sq. ft pilot manufacturing facility in Mississauga, Ontario.
This funding will accelerate e-Zinc’s establishment of a manufacturing base that will enable commercialization of its long-duration energy storage solution, which promises lower cost and increased safety compared to conventional batteries.
e-Zinc is partnering with Toyota Tsusho Canada Inc. and the California Energy Commission to demonstrate how e-Zinc’s energy storage systems can reliably provide long-duration energy storage at commercial scale. By using this new investment to carry out these field demonstration projects, e-Zinc will validate that its zinc-air batteries have the capability to store 24 hours of energy, which is approximately 10x that of traditional batteries.