Toronto-based e-Zinc has secured USD $31 million to advance product development and finish building its 42,000 sq. ft pilot facility in Mississauga. Known for zinc-air batteries, e-Zinc offers an energy storage system up to 80% cheaper than lithium-ion for long-duration use. The system, suitable for extreme climates, uses recyclable materials.
This Series A2 funding, led by Evok Innovations and supported by Mitsubishi Heavy Industries and others, follows a $25 million Series A round. Collaborations with Toyota Tsusho Canada and the California Energy Commission will validate e-Zinc’s 24-hour energy storage capability. CEO James Larsen aims to shift towards production and operational excellence.
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