e-Zinc secures $31 million for its storage solutions

e-Zinc obtains USD 31 million to finalize its pilot plant and launch commercial long-term energy storage projects.
e-Zinc sécurise $31 millions pour ses solutions de stockage.

Partagez:

Toronto-based e-Zinc has raised USD 31 million in a Series A2 financing round, led by Evok Innovations and backed by Mitsubishi Heavy Industries, Export Development Canada (EDC) and Ultratech Capital Partners. Existing investors, including Toyota Ventures, Eni Next, Anzu Partners, BDC and Graphite Ventures, also participated.

Financing objectives

This financing will enable e-Zinc to finalize its 42,000 sq. ft. pilot facility in Mississauga, Ontario, and launch commercial pilot projects. The company is focusing on the development and marketing of its zinc-air batteries, known for their lower cost and greater safety than conventional solutions. This project is part of Ontario’s strategy to invest in low-carbon generation.

Strategic partnerships

e-Zinc collaborates with Toyota Tsusho Canada Inc. and the California Energy Commission to validate its commercial-scale storage systems. These projects will demonstrate the ability of zinc-air batteries to deliver reliable energy over extended periods, some 10 times longer than conventional batteries.

Competitive advantages

With this financing, e-Zinc aims to move into a production phase and focus on operational excellence. Pilot demonstrations and validation of manufacturing processes will prove the competitive advantages of this energy storage technology. Jane Kearns, Partner at Evok Innovations, points out that e-Zinc’s ability to extend durations at low cost sets it apart from its competitors, making it an attractive solution for a variety of applications.

Expansion of the management team

To support this growth phase, e-Zinc has strengthened its management team with industry experts: Rhonda Landers (CFO), Zakiul Kabir (CTO), Rob Howard (COO) and Balakrishnan Iyer (Sales Director). Their experience is crucial to developing and scaling company operations.

Market outlook

The investment in e-Zinc reflects the growing interest in low-cost, long-term energy storage solutions. This financing positions the company to play a key role in the sector, offering competitive and reliable storage solutions.

  • Populaires ​
Sasol and Akuo sign major solar energy supply agreement
World Bank resumes nuclear financing after decades of absence
Sierra Leone launches extensive offshore oil exploration with 60 potential blocks
Egypt launches $200mn industrial solar complex at Ain Sokhna
Mexco Energy reports 27% increase in annual profit
HyperStrong and Repono launch 1.4 GWh of energy storage in Europe by 2027
Chinese company HyperStrong and Swedish firm Repono AB announce a strategic agreement to jointly implement large-scale energy storage projects totalling 1.4 GWh in Europe by the end of 2027.
Globeleq closes $300 million financing for landmark project
Globeleq and African Rainbow Energy finalise financing for Africa's largest standalone battery energy storage project, raising ZAR 5.4 billion ($300 million) from Absa and Standard Bank in South Africa.
Matrix Renewables signs 22 MW energy storage contract in California
Matrix Renewables and Pioneer Community Energy have signed an energy capacity contract for a 22 MW battery storage project in Kern County, operational from early 2026.
Ignitis begins construction of three energy storage parks in Lithuania
The Ignitis Group is starting the construction of three battery energy storage systems in Lithuania, with a combined capacity of 291 MW and a total investment of €130mn.
Alinta Energy launches construction of the first Reeves Plains Energy Hub battery in Australia
Alinta Energy has appointed GenusPlus Group to build the first phase of the Reeves Plains Energy Hub Battery, a high-capacity storage facility designed to support grid stability in South Australia.
The Indonesian-Chinese lithium-ion battery plant will open with 6.9 GWh in 2026
A partnership between Indonesia Battery and Contemporary Amperex Technology aims to launch a lithium-ion battery plant in Indonesia by the end of 2026, with a 6.9 gigawatt-hour capacity and planned expansion.
State Grid completes energy storage compartment at Tongli substation in Wuzhong
State Grid Wuzhong Power Supply Company announces the completion of the energy storage compartment at Tongli substation, a key step for the upcoming integration of a 300 MW shared storage power plant in Ningxia.
Globeleq launches South Africa’s largest energy storage facility
Globeleq and African Rainbow Energy finalise commercial agreements for a 153 MW energy storage project in South Africa, aimed at enhancing national grid stability and optimising peak energy management.
Global microgrid market to reach 191 billion dollars by 2033
Estimated at 40.9 billion dollars in 2024, the global microgrid market is expected to grow at an average annual rate of 19.28% to reach 191.01 billion dollars by 2033, driven notably by innovative energy contracts.
Energy storage: Historic growth in the United States despite regulatory uncertainty
The U.S. energy storage market set a historic record in early 2025, surpassing 2 GW installed in the first quarter despite increasing uncertainty regarding federal fiscal policies and tax credits.
Morocco: COBCO Starts Production of Materials for Electric Vehicle Batteries
The Sino-Moroccan joint venture COBCO has begun manufacturing essential lithium-ion battery components at its Jorf Lasfar plant, targeting a final annual capacity of 70 GWh, enough to equip one million electric vehicles.
Trianel deploys 900 MW battery to bolster German grid flexibility
Trianel teams with BKW and Luxcara to build a 900 MW lithium-iron-phosphate storage park in Waltrop, the first phase of a complex that could reach 1.5 GW and stabilise the German grid.
Blue Whale Energy installs 8 MWh of sodium-ion batteries on Southeast Asian urban rooftops
Blue Whale Energy partners with UNIGRID to deploy behind-the-meter storage systems adapted to constrained commercial and industrial urban areas in Southeast Asia.
Foreign Investor Submits Offer for Northvolt Following Bankruptcy
Northvolt, recently placed under judicial administration, has received an indicative offer from a foreign investor to acquire its Swedish assets, signaling a potential imminent restart of its battery production units.
Jinko ESS and Metlen sign 3GWh battery storage deal for Chile, Europe
The frame agreement aligns Jinko ESS’s utility-scale storage technology with Metlen’s development pipeline, unlocking more than 3GWh across Chile and Europe while reducing delivery risk for grid operators.
Viridi secures UL 9540 certification after public fire test
Buffalo-based Viridi has obtained the cETLus mark for its RPS150 system, meeting the UL 9540 standard only days after a public battery fire-containment demonstration.
Tesla Signs $560 Million Contract for Electricity Storage in China
Tesla is building a giant electricity storage facility in Shanghai, China, signing a $560 million contract to meet growing demands on the urban electricity grid.
Envision Energy wins French 120 MW energy storage contract
Envision Energy signs a turnkey contract with Kallista Energy for a 120 MW / 240 MWh energy storage project in Saleux, Hauts-de-France, marking its entry into France’s stationary battery market.
Amea Power secures financing for Egypt’s first grid-scale energy storage
The Dubai-based company obtains a USD72mn loan to add a 300MWh battery system to its 500MW solar plant in Kom Ombo, with commissioning expected in July 2025.
Saft to equip 1 GWh site for Gurīn Energy in northern Japan
Asian developer Gurīn Energy selected Saft to supply a battery storage system exceeding 1 GWh in Fukushima, marking a new stage in Japan’s energy storage deployment.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS