December 15, 2022: Nickel-zinc batteries producer ZincFive mentioned on December 6 it raised $54 million in new funding.
The sequence ‘D’ funding spherical will help strikes to develop its presence in markets equivalent to datacentre UPS programs and energy programs for heavy industrial tools.
ZincFive mentioned it would additionally use the funds to think about potential new markets.
The newest funding takes the whole funding raised up to now to $139 million.
Current investor Helios Local weather Ventures is main the present spherical, with new buyers together with OGCI Local weather Investments and the Japan Power Fund.
Oregon-based ZincFive’s privately held merchandise embody UPS battery cupboards for knowledge middle power storage.
Marc van den Berg, managing director of OGCI. mentioned: “ZincFive know-how reduces the environmental affect surrounding the rising use of batteries to energy the industrial and industrial sectors. We see vital potential for ZincFive to collaborate with OGCI members and fellow portfolio corporations on quite a lot of purposes.