ViZn Energy Systems, Inc., a Columbia Falls, Mont.-based energy storage company, announced a $15m financing and the end of the staff furlough, which has been suspended after approximately ten weeks.
The round was been led by an energy industry private equity fund and several long-standing investors.
John Lowell, who has been serving as the Chief Operations Officer for 6 years, has also assumed the role of CEO. The streamlining of the company will be driven largely by a reduction in the global commercial organization which will likely expand again in 2019.
Founded in 2009, ViZn Energy Systems is an energy storage company that is deploying a highly versatile zinc-redox flow battery solution for utility, commercial and industrial, and microgrid applications worldwide.