OGCI plugs into battery maker ZincFive
ZincFive, the nickel-zinc battery maker raising a $75 million Series D round, earned itself a major investor this week,.
Driving the news: OGCI Climate Investments, which manages a roughly $1 billion fund for the Oil and Gas Climate Initiative, announced that it had invested in the funding round.
Why it matters: Startups are mixing up a variety of battery chemistry cocktails, and attracting money in the process. This comes as rising demand and strained supplies have unleashed huge price surges for critical minerals.
- ZincFive says its chemistry promises greater stability and power density.
Details: "We are pleased with the initial participation," CEO and co-founder Tim Hysell tells Axios.
- "We are in conversations with a number of interested parties that are attracted to our current round because of the unique advantages our nickel-zinc technology has to offer."
- ZincFive in March disclosed that it'd raised $11.3 million in the round so far. The round has a rolling close that began in February, ZincFive says.