OnPoint Invests $9 Million in Zinc Matrix

Zinc Matrix Power, Inc. of Santa Barbara, California, recently closed a $9 million round of funding. OnPoint Technologies, a venture capital fund of the U.S. Army, led the round with participation from Intel Capital and the company’s current investors. The company plans to use the funds to complete development work and hire additional staff for pilot production facilities.

Zinc Matrix develops a polymer-based rechargeable alkaline battery technology similar to common flashlight battery chemistry. The technology could potentially double laptop computer battery life in the same battery package size as current laptop computers.

OnPoint also has an agreement with Zinc Matrix Power to develop application opportunities at the Department of Defense for the company’s emerging rechargeable alkaline zinc battery technology. In addition to developing advanced alkaline batteries for longer notebook battery life, the two entities will develop similar long run time military and DoD applications which could benefit from high output power and high energy.

“The company’s rechargeable alkaline technology provides a substantial increase in energy density over existing technologies. We are excited about the potential applications of this technology within several areas of the DoD,” said John Trbovich, principal, OnPoint Technologies.