May 7, 2020: ZAF Energy Systems, the Missouri-US-based nickel zinc and zinc air battery developer, said on April 30 it had raised $22 million from ‘key, strategic investors’ to meet growing demand from large-scale data storage, telecommunications, health care and commercial trucking sectors.
The investors are Elevage Capital Management, Catalus Capital, Holt Ventures and Coventry Asset Management.
“ZAF will use the funds to accelerate the commercialization and adoption of its nickel-zinc battery technology and expand its manufacturing capacity,” a company statement said.
“ZAF’s NiZn chemistry can reduce the footprint of lead acid data centre IPS systems by 40% and because it lasts twice as long as lead acid, it will reduce the number of batteries consumed by up to 75%.
“The battery also yields twice the energy density of lead acid batteries at less than a quarter of the cost, making them smaller, lighter and less expensive. The batteries use sustainable, abundantly available materials that are both fully recyclable and non-toxic to the environment in disposal situations, providing long life and economical solutions for many applications.”
In February 2019, lead battery equipment designer and manufacturer Wirtz Manufacturing invested an undisclosed sum in ZAF, saying it was keen to help bring the firm’s technology to the marketplace after seeing the performance improvements and cost savings it delivered.
The investment would allow ZAF to expand capacity from hundreds of batteries a month to thousands a month, the firm said, with a full production line that meant licensing and joint venture partners could validate the quality of the technology for commercially scaled factories.