A Missouri next-generation battery manufacturer is receiving millions of dollars from investors. ZAF Energy Systems develops and manufactures advanced nickel-zinc (NiZn) batteries. The company is located in Joplin, Missouri. ZAF executives recently announced they received $22 million from institutional and strategic investors to accelerate the commercialization of their NiZn battery in the data storage, industrial equipment, transportation, healthcare and defense markets.
Demand for ZAF’s NiZn technology as a replacement for lead-acid batteries in key market segments continues to grow. ZAF’s NiZn batteries last more than twice as long as lead acid batteries and yield twice the energy density of lead-acid batteries at less than a quarter of the cost, making them smaller, lighter and less expensive. ZAF’s NiZn batteries are recyclable and non-toxic to the environment.
Coventry Asset Management is one of several key investors in the company. “I look for innovative products that match with industry-changing trends,” Coventry’s CEO Gen Fukunaga said. “My belief is that ZAF’s environmentally friendly batteries are going to change the way the industry looks at cost effective energy storage. For far too long energy storage has been the ‘Achilles Heel’ of the energy industry. I am excited to be a part of this ground-breaking technology.”
ZAF opened its facility in Southwest Missouri in 2017. Company executives selected Joplin, Missouri, for their expansion location due to our state’s workforce and rich history in energy solutions. Missouri is home to the global headquarters of several innovative companies in the industry, including EaglePicher Technologies, Energizer, Emerson, and Watlow.