MHVYF - MHI Invests in e-Zinc to Advance Long-duration Energy Storage in Zinc Metal

TOKYO, June 28, 2024 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) announced today 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.

e-Zinc's Zinc Air Battery Product Image

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.

About e-Zinc

e-Zinc is a purpose-driven energy storage solutions company based in Toronto, Canada. Its unique zinc-based long-duration energy storage technology is enabling a reliable transition away from fossil fuel powered energy sources and providing the platform for the world's energy markets to be fully powered by renewable energy. By utilizing zinc as the base metal, e-Zinc delivers a product that holds energy for multiple days, and can safely and reliably perform in the world's harshest environments. In addition, zinc is light on impact to the planet, readily available, and inexpensive because of its abundance, ubiquity and recyclability. www.e-zinc.ca.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.

Source: Mitsubishi Heavy Industries, Ltd.

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