ZincFive secures $80m financing with Orion
US nickel-zinc battery-based systems company ZincFive has announced a strategic partnership with Orion Infrastructure Capital (OIC), which will provide a term loan of up to $80 million to fuel the company’s global growth.
The collaboration with OIC will advance the ZincFive’s new product pipeline, and speed up the development of US-based production capacity.
The investment will also enable ZincFive to expand recycling infrastructure.
Jeremy Glick, head of infrastructure growth at OIC, said: “We are thrilled to join forces with ZincFive on their remarkable journey to transform energy storage in data centres and other global markets. ZincFive’s nickel-zinc battery production capabilities seamlessly align with OIC’s dedication to sustainable infrastructure.”
Tim Hysell, co-founder and CEO of ZincFive, added: “Both our organisations share an unwavering passion and commitment to not only onshoring additional manufacturing capacity in the United States but also to offer a safe and sustainable battery technology for high-power mission-critical applications.”