ZZ Runner invests $2 million in Series B funding
Written By: Tracy Dawson Roses
July 7, 2015
ZZ Runner invests $2 million in Series B funding for kinetic storage firm Chakratec
On July 7, Chakratec, which has developed energy storage solutions based on a kinetic battery device, announced today it has raised $2 million in a Series B funding round from China based investor Zhengzhou Runner Electric Co.
ZZRunner is engaged in R&D, production and sales of intelligent power distribution products, intelligent electrical products and energy monitoring products in China.
Chakratec will leverage this Series B funding mostly to complete its beta testing with actual potential customers in Israel, Europe and China, and move forward with its go to market penetration.
The company is accelerating its development and sales activities and is looking for partners and pilot projects in Europe.
Mr. Chen Yu Jie, CEO of ZZRunner commented:
“When we first met Chakratec a year ago, we were very intrigued with the innovation of its solution especially for a market like China. We believe that most of the Renewable Energy deployments worldwide, will be enhanced with storage within a decade. The highly strong and experienced founders, as well as seeing the achievements so far have convinced us to partner with Chakratec and support its go to market.”