ZAF Energy Systems Inc. (ZAF), a developer of echargeable nickle-zinc (NiZn) batteries (earlier post), has received $300,000—the first installment of a $600,000 investment—from Missouri’s Department of Economic Development (DED) fund as part of the state’s Venture Capital Co-Investment Program.
The company will use the investment to hire employees, expand production, and forge strategic supply chain partnerships. ZAF says that this additional production capability will enable it to meet growing customer demand, which will accelerate licensing and joint venture negotiations and commercialize NiZn batteries on a global scale.
ZAF has cultivated relationships with companies in the commercial trucking, telecommunications, and large-scale data storage industries that are in search of powerful, cost-effective, and environmentally friendly battery solutions. ZAF’s NiZn batteries have potential uses in a wide range of applications including: automotive, heavy trucking, remote telecom, renewable energy, and marine.
ZAF says that NiZn batteries have the potential to disrupt the $50-billion conventional lead-acid battery market with their ability to provide twice the storage capacity and three times the power of legacy lead-acid batteries in a smaller, lighter package.
ZAF says that it has solved the NiZn legacy problems of dendrite growth, zinc migration and dry-out to deliver the highest levels of performance and reliability.