Long-duration energy storage company e-Zinc has raised $31 million in funding which it will use to build a 42,000 sq. ft pilot manufacturing plant in Missisauga, Toronto.
The Canadian company said this comes on top of $25 million raised earlier in a Series A round.
The company said the funding will accelerate e-Zinc’s establishment of a manufacturing base that will enable commercialization of its zinc-battery LDES solution, which claims lower cost and increased safety compared to conventional batteries.
e-Zinc is partnering with Toyota Tsusho Canada and the California Energy Commission to demonstrate how its energy storage systems can reliably provide LDES 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,” it said.
The company has also added new members to its executive leadership: Rhonda Landers, CFO; Zakiul Kabir, CTO; Rob Howard, COO; and Balakrishnan Iyer, COO.
In May, nickel-zinc battery company ZincFive secured financing to accelerate its expansion plans in the US for battery manufacturing, systems and pack assembly, and new product development. Data centre infrastructure is being driven by massive investments in AI, it said.
