ZPower, a Camarillo, California-based provider of rechargeable microbatteries, secured a $25m growth loan.
MidCap Financial and Apollo Investment Corporation (NASDAQ: AINV) provided the financing.
The company will use the procceds from the financing to continue to expand operations and its business reach.
Led by Ross E. Dueber, Ph.D., President & Chief Executive Officer, ZPower developes rechargeable silver-zinc batteries for microbattery applications for the hearing aid battery market and consumer wearables market. They delivers consistent, stable energy, are safe and environmentally sustainable and are scalable to multiple applications and devices across a broad spectrum of industries.
The company is ISO certified and its facilities (in Camarillo) and devices are registered with the FDA.