Jinshan Technology Industry plans to invest US $1.5 million in the development of Ni-Zn battery technology and application companies in the United States.

Published: Apr 11, 2022 13:16

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[Jinshan Technology Industry plans to invest US $1.5 million in the development of Ni-Zn battery technology and application companies in the United States] Jinshan Science and Technology Industry announced that according to the subscription agreement, Asset Link agreed to make a US $1.5 million investment in the target company as part of the financing of the target company D-round. It is reported that the target company is a limited company established in accordance with the laws of Delaware in the United States, mainly engaged in the development of nickel-zinc battery technology and applications.

Kingsoft Technology Industry announced that through its wholly-owned subsidiary Asset Link Asia Limit ed (Asset Link) and ZincFive Inc, a private limited company established in Delaware. (target company) enter into a subscription agreement. Under the subscription agreement, Asset Link agreed to invest US $1.5 million in the target company as part of the financing of the target company, D-round.

It is reported that the target company is a limited company established in accordance with the laws of Delaware in the United States, mainly engaged in the development of nickel-zinc battery technology and applications.

As stated in the previous announcement, the Group signed a production agreement with a customer to provide nickel-based batteries for energy storage systems. At the same time, the Group is committed to developing sustainable energy storage solutions and will continue to invest in strengthening the Group's R & D capabilities in nickel-based battery systems. The company is actively looking for investment opportunities in the field of sustainable energy storage technology, especially those that are forward-looking and may produce synergies with the company's existing business.

It is expected that the investment will bring reasonable financial return to the company. If the target company acquires meaningful equity from senior investors through qualified financing to develop its business, the company will be able to become a shareholder of a leading global nickel-zinc battery and components company in the growing market for sustainable energy storage technologies and nickel-zinc batteries and components. The investment terms are reached after fair negotiations between the group and the target company in accordance with normal business practices.

Nickel

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