Abound Energy

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Alternative Energy?
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Early
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Stationary Energy Storage
?

Abound Energy (formerly Zinc8) is a Canadian stationary energy storage solutions provider developing low-cost Zinc-Air regenerative fuel cell systems to support the intermittent nature of renewable energy sources. 

Abound’s patented technology uses power from the grid or renewable sources to generate zinc particles in its Zinc Regenerator, which are then transferred to the storage tank and maintained in potassium hydroxide electrolyte until required for energy generation. When the system is required to deliver power, zinc particles are flown to the fuel power stack where the particles combine with oxygen to generate electricity while the zinc-oxide by-product is returned to the storage tank for later generation. 

Unlike lithium-ion technology, Abound’s system can be scaled by increasing the size of the storage tank rather than adding more stacks. With a 20,000-hour operating life span and over 100 hours of scalable energy storage, Abound’s system can provide energy at USD 45 per kWh. The company owns 21 US patents with five more patents pending, as of May 2023.

Key customers and partnerships

In February 2024 , Abound signed a strategic collaboration for a year with AZUL Energy, to create a non-precious metal catalyst-coated electrode material as a substitute for conventional air cathodes using precious metal catalysts.

Funding and financials

Abound’s latest funding was in January 2023, when the company received a USD 500,000 grant from the National Research Council of Canada Industrial Research Assistance Program to support a project to improve individual sub-component efficiencies in its zinc-air energy storage system. Prior to this, in September 2022, the company raised USD 1.8 million from the exercise of 6,062,688 warrants. In February 2021, the company raised CAD 15.5 million (~USD 11.3 million) through offering 28,750,000 common shares.

Abound is a publicly listed company trading on the Canadian Stock Exchange and in the US under tickers ZAIR and ZAIRF, respectively. The company reported a net loss of CAD 11.9 million (~USD 8.7 million) in 2022.

HQ location:
8765 Ash Street, 1 Vancouver, BC, CA Vancouver BC CAN
Founded year:
2012
Employees:
11-50
IPO status:
Public
Total funding:
USD 17.3 mn
Last Funding:
USD 500.0 k (Grant; Jan 2023)
Last valuation:
-
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