ZincFive Raises $11 Million in Series B Financing
Funding accelerates growth of nickel-zinc based energy solutions for mission critical applications
PORTLAND, Oregon—(January 2018)—ZincFive, an intelligent energy storage and delivery solutions company announced it has raised $11 million in Series B funding from existing and new investors. The investment brings ZincFive’s total funding since inception to $14 million. The proceeds are being used to enable the aggressive expansion of sales and marketing activities as well as increasing engineering and manufacturing to support exponential growth.
The Series B funding follows a successful 2017 where the company achieved significant milestones in customer and revenue growth as well as industry recognition from research firms such as Gartner, 451 Research and Frost & Sullivan. The company owns the world’s broadest IP portfolio for nickel-zinc battery chemistry and continuously expands the portfolio. In January 2018, the company was awarded its 74th patent and has 29 patents pending.
“ZincFive has field-proven our energy solutions, based on our proprietary nickel-zinc battery technology, in mission critical applications,” said Tim Hysell, CEO and Co-founder of ZincFive. “We are building a global growth company and our expanding base of loyal customers confirms the exceptional value our solutions deliver.”
The company’s UPStealth® has become the fastest growing uninterruptible power supply (UPS) solution serving the intelligent transportation systems market with thousands of units installed by over one-hundred transportation departments in thirty-four US States and four Canadian provinces. The award winning company has rapidly grown its team to over 100 people in its Tualatin, OR headquarters and battery operations in Shenzhen, China.
“The customer response to our powerful patented solutions provides validation of our strategy and technology as game changers in the markets we are addressing,” said Tim Hysell. “The continued support, enthusiasm and expertise of our investors is enabling us to accelerate the execution of our vision and growth plan.”
ZincFive’s solutions, based on patented nickel-zinc battery chemistry, are rapidly gaining acceptance in multiple markets where superior power performance and safety make nickel-zinc the preferred alternative to lead-acid and lithium-ion battery chemistries.
About ZincFive, Inc.
ZincFive is the world leader in innovation and delivery of nickel-zinc based energy storage and delivery solutions for mission critical applications in Data Centers, Intelligent Transportation, Motive Power and other industries. With 74 patents awarded and 29 patents pending, ZincFive leverages nickel-zinc chemistry within our solutions to provide high power density and performance simultaneous with superior safety and environmental advantages. ZincFive is a privately held Company based in Tualatin, Oregon. zincfive.com.