PowerGenix manufactures high-power and low-cost nickel-zinc rechargeable batteries that are light, safe, environmentally-friendly and especially suitable for micro-hybrid (“start-stop”) electric vehicles and industrial grade energy storage.

Sea Cliff Capital was engaged as co-advisor and helped PowerGenix for strategy advisory and secure financing for the company’s expansion in China.

In December 2011, PowerGenix, along with China City Construction Corporation (CCCC) and Huainan City of Anhui Province, China signed a three-party agreement to create the world’s first commercial-scale Nickel-Zinc (NiZn) battery manufacturing center. PowerGenix also signed a joint venture agreement with CCCC to develop, manufacture and sell NiZn batteries for the automotive market and other markets where clean, high power and cost competitive battery products are needed.

“Together with CCCC, we believe that the widespread domestic and international commercialization of nickel-zinc batteries will be a key contributor to our city’s development as a modern, clean energy center in China,” said Mayor Cao Yong of Huainan City, Anhui Province.