Anzode, Inc. announced a first close of $500,000. The company placed 57% of its expected $875,000 mezzanine offering with four investors. Anzode raised an estimated $1.9 million via five placements in the US, including the latest placement. One of its investor OI Ventures is an early stage investment boutique which specializes in companies developing new products and services that respond to changing markets. A long time backer of the company is TMT Ventures a corporate fund seeded by Telecom New Zealand jointly managed by Advent International and Direct Capital.
Anzode develops patented high performance zinc anode based battery solutions. These batteries deliver high performance in a conventional lead acid like format suitable for emerging markets and clean technologies. The battery is environmentally benign, easy to recycle and harmless in disposal sites. The company is initially manufacturing long life, rechargeable batteries for use in applications such as back up power storage, motive power, remote area power systems, cell phone towers, uninterrupted power supplies, off-grid energy systems; as well as defense, marine, aviation, railways and traction uses. Near-future applications include Low Speed Electric Vehicle (LSEV) devices such as wheelchairs and mobility assist vehicles, electric bikes, electric scooters and golf carts.
The company, headquartered in Pataluma CA, was founded in 2004 and is led by Chris Officer (President and CEO).