Mitsubishi Heavy Industries, Ltd. (MHI) has announced that it has invested in e-Zinc, Inc. (e-Zinc) a long-duration energy storage technology startup headquartered in Toronto, Canada. The investment has been executed through Mitsubishi Heavy Industries America, Inc. (MHIA), which joins a consortium of investors including Evok Innovations, Toyota Ventures, Eni Next and others.
Leveraging its proprietary technology, e-Zinc is developing zinc-air batteries that can supply power long-term at a low cost. Zinc-air batteries are expected to offer advantages such as less self-discharge, less degradation through repeated use, higher safety, and easier reuse compared with conventional lithium batteries. They also feature higher energy density than lead-acid batteries.
This investment will help accelerate e-Zinc’s development of a demonstration and establishment of a manufacturing base for the commercialization of this low-cost, flexible, and long-duration energy storage solution. Going forward, MHI will continue to enhance and diversify its solutions portfolio, providing its customers with alternative decarbonization technologies to reach net zero goals.
