Cleantech startup e-Zn, which has developed a inexpensive, renewable grid-scale energy storage solution using zinc metal, has raised an oversubscribed $3.4 million CAD seed round. This represents the first round of venture funding for the Toronto-based company.
CEO James Larsen said the investment will go toward commercialization and market validation.
Chicago-based Energy Foundry led the round, while MaRS Investment Accelerator Fund (MaRS IAF), Geneva-based Emeraude Capital, and the Sustainable Chemistry Alliance also participated. James Larsen, CEO of e-Zn, said the investment will help assist with the commercialization and market validation of its energy storage solution.