Company Receives $1.7 Million Grant for Developing Non-Lithium Ion Energy Storage Technologies to Support California’s Clean Energy Goals

SAN LEANDRO, CA - August 19, 2020 - Battery startup Anzode Inc. has received a $1.7 million award for a three-year effort to develop a new generation of non-lithium batteries, as part of the California Energy Commission (CEC) Grant Funding Opportunity "Developing non-Lithium Ion Energy Storage Technologies to Support California's Clean Energy Goals." The CEC has awarded almost $11 million for developers of energy storage technologies other than lithium-ion batteries to meet California's 100% clean energy statutory requirement and the need for a diverse set of longer-duration storage technologies.

"Anzode's scientists are working hard to address energy challenges in California and beyond," said Sebastien Belanger, president and CEO of Anzode, Inc. "Anzode is building a generation of inexpensive green batteries that are safer for the environment. Our rechargeable zinc-manganese batteries provide great performance and safety and are much cheaper than lithium, making them a viable solution for backup power and energy storage. Future generations of our technology could even find their way into automobiles. This grant will enable Anzode to accelerate its design, prototyping and manufacturing tests, allowing the company to bring its groundbreaking technology closer to consumers, including those in California."

Anzode's batteries use inexpensive materials, which translates into a 70% cost advantage when compared to lithium ion and gas generators for a given amount of energy. Zinc (Zn) has long been considered an ideal battery electrode due to its high power and energy density, low cost, global availability, environmental characteristics and ease of recycling. Similarly, manganese (Mn) is an abundant, safe, inexpensive and widely used element. Anzode's technology stabilizes both metals and turns them into a fully rechargeable battery.

Of interest is Anzode's commitment to SB 535, the California law requiring state-funded climate change projects to benefit disadvantaged communities. Anzode is proud to focus on improving public health, quality of life and economic opportunity in California's low-income and disadvantaged communities while reducing pollution and emissions that lead to climate change.

The company will also work closely with CEC colleagues to ensure optimal business and scientific management of the project.

For more information about Anzode, visit www.anzode.com