Long-duration energy storage developer e-Zinc raises USD 25m

e-Zinc batteries at a solar plant site. Source: e-Zinc.

April 8 (Renewables Now) - Toronto-based zinc-air battery company e-Zinc has raised USD 25 million (EUR 22.9m) in a Series A funding round led by Anzu Partners on the path to initiating pilot production of its first commercial energy storage systems for field deployment.

In addition to Anzu, e-Zinc got financing from BDC Capital, Toyota Ventures and Eni Next, as well as seed round lead investor Energy Foundry and other existing backers.

The battery maker expects Toyota Ventures to guide it through scaling its manufacturing and supply chain efforts. In the meantime, e-Zinc could make use of the location of existing renewable energy assets across the globe held by the corporate venture capital vehicle of Eni SpA to deploy its technology.

"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," said James Larsen, CEO of e-Zinc.

The company says it has validated recently that its zinc-air battery can discharge energy for several days at rated power, which compares to only a few hours for most other battery types. Its near-term objective is to displace diesel generators as low-emission alternatives for half-day to five-day backup power use cases.

(USD 1.0 = EUR 0.915)

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