e-Zn, a Toronto, Canada-based energy storage company, raised $3.4m in seed funding.
The round was led by Energy Foundry with participation from MaRS Investment Accelerator Fund, Sustainable Chemistry Alliance and Emeraude Capital.
The company intends to use the funds to commercialize its technology and begin deploying systems in-field with commercial customers.
Led by James Larsen, CEO, e-Zn has developed technology for grid-scale energy storage, which leverages low-cost zinc metal, and delivers multiple days’ worth of storage with the ability to scale energy capacity at a capital cost 1/10th that of lithium ion batteries. Its energy storage system can operate in temperatures ranging from -30°C to 60°C, is made of abundant and recyclable materials, and is completely safe.
e-Zn is targeting the remote and resiliency markets, with a focus on remote communities, mining operations, telecommunications, military bases, data centres, island nations, EV charging stations, non-wire alternatives (NWA), and more.