e-Zinc builds zinc-based, long-duration energy storage (zinc-air) technology designed to store energy for multiple days with lower cost and increased safety compared with conventional batteries. The company is based in Toronto and is developing products intended for both off- and on-grid applications. e-Zinc plans to use new funding to accelerate product development and to complete a 42,000 sq. ft pilot manufacturing facility in Mississauga, Ontario. It is partnering with Toyota Tsusho Canada Inc. and the California Energy Commission to carry out field demonstrations that will validate its systems can store 24 hours of energy (about 10x traditional batteries). The company recently expanded its executive team with new CFO, CTO, COO, and CCO hires to support the transition from product development to commercialization. e-Zinc develops a zinc-air battery energy storage system designed for long-duration applications. The company's system can be up to 80 percent more cost effective than comparable lithium-ion systems, operates in cold and hot climates, and is made of abundant, recyclable materials. e-Zinc aims to displace diesel generators as a low-emission alternative and to enable a 100 percent renewable energy future by pairing its batteries with renewable sources. Financially, the company recently completed a Series A and has secured a USD $7 million venture debt facility from Silicon Valley Bank to support commercialization. Funds will be used to expand manufacturing operations at a new facility in Mississauga, Ontario, accelerate production of commercial energy storage systems, and execute high-value commercial pilot projects. Planned pilots include a Toyota Tsusho Canada Inc. project and work with the California Energy Commission, with testing and validation expected within roughly 18 months. e-Zinc develops a zinc-air battery energy storage system designed for multi-day discharge at rated power to support high renewable penetrency. The system is made of abundant, recyclable materials, operates in cold and hot climates, and the company says it can be up to 80% less expensive than comparable lithium‑ion systems for long-duration applications. e-Zinc aims to displace diesel generators for half-day to five-day backup power and to pair with renewable generation for remote or off-grid use cases. The company is partnering with the California Energy Commission to demonstrate powering businesses through multi-day outages caused by natural disasters. e-Zinc will use recent financing to commence pilot production of its first commercial energy storage systems for field deployment. Financially, the company has advanced from a 2020 seed round to a $25 million Series A to fund commercialization and pilot projects. e-Zn develops grid-scale energy storage systems that leverage low-cost zinc metal to deliver multiple days of storage and to scale energy capacity at roughly one-tenth the capital cost of lithium-ion batteries. The Toronto-based company is led by CEO James Larsen. Its systems operate in temperatures from -30°C to 60°C, are made of abundant and recyclable materials, and are described as completely safe. e-Zn targets remote and resiliency markets including remote communities, mining operations, telecommunications, military bases, data centres, island nations, EV charging stations and non-wire alternatives. The company intends to use the funds to commercialize its technology and begin deploying systems in-field with commercial customers. The article does not disclose operating metrics such as revenue or user counts.

Total raised

$66M

Funding rounds

4

Latest round

Series A

Latest activity

Jun 2024