ZincFive Raises $54 Million in Series D Financing
PORTLAND, Oregon–(BUSINESS WIRE)–ZincFive®, the world leader in nickel-zinc battery-based solutions for immediate power applications, announced it has raised $54 million in Series D funding. The Series D investment brings ZincFive’s total funding since inception to $139 million.
The funding accelerates ZincFive’s penetration into existing markets including mission critical applications in data centers, intelligent transportation, and industrial engine starting as well as providing the growth capital to enter new high-power energy segments and geographies. In addition to investments in channel and product development, the funding will accelerate the build-out of annual high-volume production capacity to meet rapidly growing customer demand.
Helios Climate Ventures led the current round. In addition to Helios, other pre-existing investors who also chose to make an investment in this round in further support of ZincFive’s mission and nickel-zinc power solutions include Senator Investment Group and Standard Industries. New investors include OGCI Climate Investments and Japan Energy Fund, among others.
“ZincFive is transforming the energy storage market and we are happy to be a part of this journey,” says Jesse Johnson, Managing Director at Helios Climate Ventures. “ZincFive’s nickel-zinc battery energy storage solutions are powerful, reliable, safe, and highly sustainable, having significantly lower end-to-end climate impact than alternative battery chemistries. As a result, the market is responding with commercial demand spiking and the customer roster rapidly expanding.”
“We are excited to join the impressive roster of ZincFive investors,” says Marc van den Berg, Managing Director at OGCI Climate Investments. “ZincFive’s technology significantly decreases the environmental and carbon impact surrounding the growing use of batteries to electrify commercial and industrial sectors. We see significant potential for ZincFive to collaborate with OGCI members and fellow portfolio companies on a range of applications.”
“It is great to see our current investors returning in the Series D round as well as to welcome new investors who recognize the current commercial success and substantial future company growth,” said ZincFive Co-founder and CEO Tim Hysell. “We are grateful to the investor community for their fervent support of ZincFive’s mission and global expansion. We look forward to continuing to bring innovative nickel-zinc technology to the market.”
About ZincFive, Inc.
ZincFive is the world leader in innovation and delivery of nickel-zinc batteries and power solutions. With more than 90 patents awarded, ZincFive technology harnesses The Power of Good Chemistry to propel the world forward. ZincFive technology leverages the safety and sustainability of nickel-zinc chemistry to provide high power density and performance to mission critical applications. ZincFive is a privately held company based in Tualatin, Oregon. For more information, visit www.zincfive.com.
This press release contains “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words “potential”, ”projects”, “will,” “plans,” “intends,” “targets,” “expects,” “outlook,” “believes,” “anticipates” or similar expressions. Forward-looking statements may include, without limitation, expected financial positions; financing plans; business strategies and expectations; operating plans; capital and other expenditures; expansion of markets and product production; competitive positions; alternative energy investments and regulations; growth opportunities for existing products; and benefits from new technology. Actual results may differ materially from what is stated in this release. Factors that could cause actual results to materially differ from those contained in the forward-looking statements, or that could cause other forward-looking statements to prove incorrect, include, without limitation, current and future markets for the company’s products developing differently than anticipated, new technologies entering the market, risks related to expanding our manufacturing and production, including adverse international conditions; adverse conditions in the data center, traffic or energy markets; competition from substitute products, new technologies and new or emerging competitors; adverse effects from general global economic and financial conditions, including inflation; new regulations; or a decrease in infrastructure spending. The company assumes no obligation to provide any revisions to, or update, any forward-looking statements.
ZincFive is a registered trademark and the ZincFive logo and The Power of Good Chemistry are trademarks of ZincFive, Inc.
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