ReVolt Technology, a technology company which has developed a rechargeable zinc-air battery, today announced that it has received notification of an award for approximately USD 5 million in development funding from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy , a federal agency charged with aiding the rapid development of innovative clean energy technologies.
Following successful negotiations, estimated to be concluded by June this year, the agency’s award will allow ReVolt to accelerate its implementation plan for a U.S. headquarters and development facility in Portland, Oregon, where it will work on advanced zinc-air battery technology for use in electric vehicles. ReVolt may, thus, finalize its new Portland facilities in the coming months and have its U.S. team and operations in place in Oregon already by October this year.
Revolt Technology is part of both Northzone Ventures and Viking Venture´s portfolios.
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