Tombstone showing Series A close for $8m in December 2024 with Enzinc and TO VC logos
Funding round led by TO VC funding will accelerate commercialization of Enzinc’s revolutionary zinc-based battery technology
Enzinc Inc., an advanced zinc battery developer, today announced it had closed its Series A funding, raising $8 million. The round was led by TO VC, with participation from American Century Investments (ACI), which led Enzinc’s seed round.
The funding comes as global demand for batteries skyrockets and the world searches for alternatives to lithium-ion chemistry. Enzinc’s proprietary technology unleashes zinc’s full potential, creating rechargeable advanced nickel-zinc batteries with high energy density and unparalleled safety.
Enzinc’s technology enables its customers—lead-acid battery manufacturers—to leverage the existing 400GWh of global manufacturing capacity to make high-performance batteries without a massive capital investment. They can triple their output and boost revenue and margins while meeting the growing demand for efficient batteries for mobility and stationary uses.
“There’s a vast untapped resource in the global lead-acid manufacturing infrastructure and Enzinc is poised to unlock this potential,” said Joshua Phitoussi, cofounder and managing partner at TO VC. “The US can leverage its global leadership in lead-acid battery manufacturing capacity to position itself as a leader in advanced battery manufacturing without investing many billions of dollars in gigascale factories. We invest in companies that are building earth’s most vital ventures, and energy storage is one of the most powerful areas of innovation to get to net zero greenhouse gas emissions. Enzinc’s technology unlocks the ability to transform these existing factories into powerhouses for advanced batteries.”
TO VC focuses on early-stage startups with transformative technologies in energy systems, food systems, and carbon removal. Known for its active partnership with founders, TO VC has a track record of nurturing companies from concept to market leadership.
“Securing this funding in today’s challenging environment is a testament to the confidence our investors have in Enzinc’s vision and ability to scale our safe and powerful battery technology rapidly,” said Michael Burz, CEO and cofounder of Enzinc. “We appreciate the deep expertise, collaborative approach, and shared commitment to healing our planet that our investors bring.”
The funding will enable Enzinc to scale production, expand partnerships, and bring its breakthrough zinc-based battery technology to market, supporting the global transition to renewable energy. As part of the investment, Phitoussi, a seasoned venture capitalist known for championing disruptive startups, will join Enzinc’s Board of Directors. He will work alongside Jake Pflaum, a member of the private investments team at ACI and board member at Enzinc since its seed round in mid-2022.
“Enzinc’s technology addresses critical challenges in energy storage, making renewable energy more reliable and affordable. American Century Investments is proud to continue our partnership and support Enzinc’s growth as a key player in the clean energy revolution,” said Pflaum.
The announcement comes after the recent opening of Enzinc’s Manufacturing Technology Center in Oakland, CA.
