MTC Portfolio Company Successfully Raises $22M

Joplin-Based ZAF Energy Systems Raises $22M from Key Strategic Investors

A Missouri Technology Corporation portfolio company has shared the news of a successful Series A round of investment. ZAF Energy Systems Inc. (ZAF), a developer of next-generation battery technologies, has recently secured $22 million dollars in private investment from key strategic investors. The company’s Series A funding includes investments from institutional and strategic investors including Élevage Capital Management, Catalus Capital, Holt Ventures, and Coventry Asset Management. ZAF will use the funds to accelerate the commercialization and adoption of its nickel-zinc (NiZn) battery technology and expand its manufacturing capacity.

Incorporated in 2011, ZAF Energy Systems develops and commercializes next-generation battery technologies that use sustainable, nontoxic materials and can be safely and easily recycled. Its breakthrough battery technologies deliver the highest power and energy density of any battery system in their class. ZAF’s rechargeable batteries provide longlife and economical solutions in a safe package for a variety of applications, including electric vehicles, commercial trucking, renewables integration, back-up power, consumer electronics, mobility, recreation vehicles, and in aerospace and defense.

Investing in Entrepreneurship

The Missouri Technology Corporation has made two separate investments in ZAF Energy Systems through the MTC IDEA Fund. These investments have proven to be a huge win for the state of Missouri and its economic development strategy. MTC’s IDEA Fund equips the state to support entrepreneurs, help startups grow, and produce a strong return on investment. 

MTC’s IDEA Fund

The Missouri Technology Corporation’s IDEA Fund is the state’s primary vehicle for supporting startups and entrepreneurship. Through the fund, MTC invests in scalable, high-tech startups. All companies must be located within or willing to re-locate to Missouri to be eligible for funding. These high-growth companies must also fall into one of five areas of focus: animal health, applied engineering (which includes software, IT, clean energy tech and others), biomedical science, defense and homeland security, and plant science.

All MTC investment funds are ‘co-investment’ funds. This means that for every dollar invested by the state, companies must secure one dollar of investment from private sources to match MTC's investment. This strategy allows the state’s investment dollars to go twice as far in terms of equipping the company for growth and success.