e-Zinc

Overview

e-Zinc is a Canadian company specializing in long-duration energy storage through its innovative zinc-air battery technology. Founded in 2012 by Dr. Xiaoge "Gregory" Zhang, e-Zinc aims to provide an affordable and efficient energy storage solution that supports renewable energy integration. Based in Toronto, the company has successfully raised a total of $61.8 million across several funding rounds, with significant contributions from investors such as Evok Innovations, Mitsubishi Heavy Industries, and Toyota Ventures.

Recent Developments

June 2024: e-Zinc announced the completion of a $31 million Series A2 funding round led by Evok Innovations, alongside major investments from Mitsubishi Heavy Industries, Export Development Canada, and others. This funding will accelerate the development of a 42,000 sq. ft pilot manufacturing facility in Mississauga, Ontario, and enable the commercialization of its zinc-air battery technology, which promises to revolutionize long-duration energy storage by providing 24-hour energy storage capabilities.
April 2022: The company secured a $25 million Series A round to further its commercial energy storage initiatives. This investment, led by Toyota Ventures and other partners, has helped e-Zinc in scaling up its pilot manufacturing operations and strengthening its supply chain.
October 2022: e-Zinc closed a $7 million venture debt facility with Silicon Valley Bank to further boost its production capabilities and commercialization efforts.
Executive Changes (2023): e-Zinc appointed Rhonda Landers as Chief Financial Officer, Zakiul Kabir as Chief Technology Officer, Rob Howard as Chief Operating Officer, and Balakrishnan Iyer as Chief Commercial Officer. These strategic hires aim to enhance the company's growth in scaling up its innovative battery solutions.

Attribute	Information
Founding Date	2012
Headquarters	Toronto, Canada
Founders	Dr. Xiaoge "Gregory" Zhang
Revenue	Not publicly disclosed
Profits	Not publicly disclosed
Key Investors	Evok Innovations, Mitsubishi Heavy Industries, Toyota Ventures, Eni Next, Anzu Partners, BDC, Graphite Ventures
Industry	Energy Storage
Number of Employees	Approximately 78 (2024)

Early History

e-Zinc was founded in 2012 by Dr. Xiaoge "Gregory" Zhang, who previously worked at Teck Resources. Dr. Zhang's vision was to create a viable and sustainable long-duration energy storage solution. By harnessing the properties of zinc, the company developed a unique zinc-air battery technology. Over the years, e-Zinc has focused on refining this technology to ensure its suitability for commercial applications. Initial milestones included securing seed funding in 2020 and demonstrating critical technical and commercial viability through pilot projects.

Company Profile and Achievements

e-Zinc's business model revolves around providing reliable and cost-effective energy storage solutions that decouple energy from power. Their zinc-air batteries are positioned as alternatives to lithium-ion systems for longer duration storage, offering advantages such as improved safety, reduced costs, recyclability, and the ability to operate under extreme temperatures.

Key Milestones:
- Successful completion of Series A and A2 funding rounds, securing over $50 million to date.
- Partnerships with prominent entities, including the California Energy Commission and Toyota Tsusho Canada, to validate and demonstrate the efficacy of its technology in large-scale projects.
- Industry recognition, including being named to the Global Cleantech 100 and other awards.

Current Operations and Market Position

e-Zinc's current business activities focus on advancing its zinc-air battery technology from initial pilot phases to full-scale commercialization. The company is recognized for its innovative approach to addressing the challenges posed by intermittent renewable energy sources. Its strategic partnerships and new leadership hires are poised to enhance its competitive advantage in the energy storage market, with plans to further extend its reach internationally.

Conclusion

e-Zinc is playing a transformative role in the energy industry by offering a cost-effective, sustainable solution for long-duration energy storage. With substantial support from prominent investors and strategic partnerships, e-Zinc is positioned to make a significant impact on renewable energy integration, contributing to the global transition towards a zero-carbon future. Looking ahead, the company will continue to focus on expanding its market presence and advancing its technology to become a major player in the clean energy sector.