Houston-based battery innovators close $23M series A
Houston-based Zeta Energy announced this month that it has closed a $23 million series A round led by New York VC firm Moore Strategic Ventures.
The funding will be used to expand Zeta's lab facility in the Houston area and further commercialize the company's innovative batteries for electric vehicles and energy storage.
"We are delighted to have Moore Strategic Ventures join Zeta Energy. Moore's focus on transportation, advanced materials, energy, and clean tech aligns perfectly with Zeta's strategic objectives," Charles Maslin, founder and CEO of Zeta Energy, said in a statement. "We are so excited to work together to help the world transition to clean energy and build a more sustainable future."
Founded in 2014, Zeta develops affordable and sustainable rechargeable batteries and is known for its lithium sulfur battery system. The system utilizes Zeta's proprietary sulfur-based cathodes and lithium metal anodes that have shown to have higher capacity and density and better safety profiles, according to the company's website.
The company is slated to move to a new 12,000-square-foot facility in West Houston in Q2 where it will employ 40 individuals, including 25 researchers, engineers, and developers.
"Houston is the ideal location for us to advance our core battery and materials technology," Zeta COO Tom Pilette said in a statement. "With this new facility we will be able to demonstrate the performance and cost characteristics of our proprietary technology and help accelerate electrification and the transition to green energy and beyond."The news comes on the heels of Austin-based Tesla revealing details on a new "energy-storage park" South of Houston, equipped with 81 Megapack batteries that store clean energy. The site is predicted to help ease the impact of power grid losses in the state.