ZincFive, producer of nickel-zinc batteries and power solutions, joins OGCI CI Catalyst Fund I Investment portfolio
31 May 2022
OGCI Climate Investment (OGCI CI), a specialist decarbonization investor, has participated in a Series D preferred stock financing in ZincFive®, a leading producer of nickel-zinc (NiZn) battery-based solutions for immediate power applications.
OGCI CI made the investment after ZincFive demonstrated the significant emissions reduction impact that could be achieved in commercial and industrial sectors using its proprietary technology.
With the use of batteries as an enabler of electrification surging, third-party research demonstrated that the embedded carbon footprint of NiZn batteries can be over 85% lower than lithium-ion. Owing to the batteries’ small, lightweight, and reliable design, the technology offers a highly cost-effective and inherently safer solution in high-power, short-duration applications.
The investment demonstrates the maturity of opportunities within OGCI CI’s impact investment mandate and their potential to deliver scaled impact. ZincFive becomes OGCI CI’s Catalyst Fund I 27th portfolio investment.
“ZincFive’s technology significantly decreases the environmental and carbon concerns surrounding the growing use of batteries to electrify commercial and industrial sectors” said Hannah-Mei Andrews, Investment Principal at OGCI Climate Investment.
“We also see a lot of potential for ZincFive to collaborate with OGCI members and fellow portfolio companies on a range of applications”, Ms. Andrews added, referencing OGCI CI’s catalytic investment model, which includes working across its extensive energy ecosystem to facilitate pilot and business development opportunities for its portfolio companies.
“Our customers are thrilled with our nickel-zinc batteries and power solutions delivering higher performance without forcing them to compromise on safety and the environment,” said ZincFive CEO and Co-founder, Tim Hysell. “The opportunity to partner with OGCI Climate Investment provides the capital and strategic relationships to bring nickel-zinc batteries into new global growth segments.”
Working with large OEMs and direct customers, ZincFive currently has more than 2,500 units deployed across the United States in multiple use cases including data centers, off-grid power, and intelligent transportation applications.
Learn more about ZincFive here. ZincFive is a registered trademark of ZincFive, Inc.
About OGCI Climate Investment
OGCI Climate Investment was formed by the Oil & Gas Climate Initiative, established by 12 oil & gas majors that account for around 30% of global operated production.
Climate Investment is a $1bn+ decarbonization investor. We seek to accelerate GHG reduction at scale by working closely with OGCI members, governments, customers and co-investors to maximize the global implementation of low-carbon solutions and impact. We provide capital across the lifecycle from the catalytic phase of technology and commercial validation through to scaling our investments’ sector and geographic coverage. We have invested in 27 technologies and projects since 2017.
Among our investment activities, we manage our Catalyst Fund I, and we are an investor in China Climate Investment. Both funds invest in solutions to decarbonize under-served GHG-intensive sectors within energy, industry, built environments/buildings and transportation. Climate Investment targets solutions that deliver near-term GHG impact in three areas: reducing methane, reducing carbon dioxide emissions and recycling or storing carbon dioxide.
About ZincFive, Inc.
ZincFive is the world leader in innovation and delivery of nickel-zinc batteries and power solutions. With more than 90 patents awarded, ZincFive technology harnesses The Power of Good Chemistry to propel the world forward. ZincFive technology leverages the safety and sustainability of nickel-zinc chemistry to provide high power density and performance to mission critical applications. ZincFive is a privately held company based in Tualatin, Oregon. For more information, visit www.zincfive.com.
ZincFive is a registered trademark and the ZincFive logo and The Power of Good Chemistry are trademarks of ZincFive, Inc.