ZincFive Closes an $80 Million Capital Partnership with Orion Infrastructure Capital
ZincFive®, the world leader in nickel-zinc (NiZn) battery-based solutions for immediate power applications, has announced a strategic partnership with Orion Infrastructure Capital (OIC). The capital investment will provide ZincFive up to $80 million via a term loan to fuel the company’s global commercial adoption in existing and new markets, including mission-critical applications in data centers, industrial engine starting, and other high-power energy storage markets.
The collaboration with OIC will accelerate global channel development, advance the company’s new product pipeline, and expedite the establishment of US-based high-volume production capacity to meet customer demand. Improving the already industry-leading life-cycle climate impact of ZincFive’s NiZn batteries, the investment will enable the company to expand recycling infrastructure resulting in battery grade materials for re-use. The resulting expansion across the company will increase jobs, contribute to local economies, and enhance the company’s ability to serve its growing global customer base.
Jeremy Glick, Head of Infrastructure Growth at OIC, expressed his enthusiasm for the partnership, adding, “We at OIC are thrilled to join forces with ZincFive on their remarkable journey to transform energy storage in data centers and other global markets. ZincFive’s nickel-zinc battery production capabilities seamlessly align with OIC’s dedication to sustainable infrastructure.”
“We are excited to forge a strategic partnership with OIC, propelling ZincFive’s rapid commercial adoption in key global markets,” stated Tim Hysell, Co-founder and CEO of ZincFive. “Both our organizations 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.”
In addition to the OIC capital partnership, ZincFive closed on a portion of its ongoing Series D equity financing round with Clear Creek Investments, LLC (CCI). The combination of equity capital and term loan capital proceeds will allow ZincFive to continue its rapid growth.
Todd Crescenzo, Managing Partner at CCI, shared his excitement for the investment, adding, “ZincFive’s nickel-zinc battery technology solution for the ever-growing data center and critical infrastructure markets represents the type of portfolio companies we at CCI are committed to investing in. Moreover, the ZincFive management team is best in class, and we are excited to see them execute on the Company’s next chapter of growth.” Tim Hysell added, “The Company is excited to have CCI in its capital table given their investment experience in the battery industry value chain.”
EAS Advisors, LLC served as financial advisor to ZincFive.
With approximately $3 billion in assets under management, OIC invests in North America and select international markets. OIC’s unique partnership approach – for entrepreneurs, by entrepreneurs – cultivates creative credit, equity, and growth capital solutions to help middle market businesses scale and deploy sustainable infrastructure. OIC’s target investment sectors include energy efficiency, digital infrastructure, social infrastructure, sustainable power generation, renewable fuels, waste & recycling, water, transportation, and agriculture. OIC was founded in 2015 by a team of energy and sustainability veterans, successful infrastructure investors, and former asset owners and industry operators. Across OIC’s platform is a team of 39 professionals based in New York, Houston, and London. For more information, please visit www.OIC.com.
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Clear Creek Investments (“CCI”) is an investment manager, based in Solana Beach, Calif., with a focus on investing in companies across the Energy, Food and Water sectors. Specifically, CCI looks to invest in companies across these critical but resource constrained sectors that are stewards of catalytic capital – “doing more with less” in the spirit of global innovation and betterment. The firm was founded in December 2020 and currently manages six investment vehicles across the private and public markets. CCI is a signatory of the Principles for Responsible Investment (UN PRI). For more information, please visit www.clearcreekinv.com.
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About ZincFive, Inc.
ZincFive is the world leader in innovation and delivery of nickel-zinc batteries and power solutions. With more than 90 patents awarded, ZincFive technology harnesses The Power of Good Chemistry® to propel the world forward. ZincFive technology leverages the safety and sustainability of nickel-zinc chemistry to provide high power density and performance to mission critical applications. ZincFive is a privately held company based in Tualatin, Oregon. For more information, visit www.zincfive.com.
This press release contains “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, without limitation, operating plans; capital and other expenditures; expansion of markets and product growth opportunities for existing products; and benefits from new technology. Actual results may differ materially from what is stated in this release. Factors that could cause actual results to materially differ from those contained in the forward-looking statements, or that could cause other forward-looking statements to prove incorrect, include, without limitation, current and future markets for the company’s products developing differently than anticipated, customer buying patterns and timing, new technologies entering the market, risks related to expanding our manufacturing and production; adverse conditions in the data center, traffic or energy markets; new or emerging competitors; adverse effects from general global economic and financial conditions, including inflation; new regulations; or a decrease in infrastructure spending. The company assumes no obligation to provide any revisions to, or update, any forward-looking statements.
ZincFive is a registered trademark and the ZincFive logo and The Power of Good Chemistry are trademarks of ZincFive, Inc.