HARTFORD ENERGY SOLUTIONS INC. ANNOUNCES $3.5 MILLION NON-BROKERED PRIVATE PLACEMENT FINANCING
Its Rechargeable Zinc-Manganese Dioxide Battery Technology will Target Residential and Commercial Backup Power Applications
Toronto ON, Canada, August 3, 2023 ( EINPresswire.com ) – Hartford Energy Solutions Inc. (HES), a company commercializing innovative clean energy technologies is pleased to announce a non-brokered private placement financing for gross proceeds of up to CAN$3,500,000 through the issuance of up to of 7,000,000 common shares (each, a “Common Share”) in the capital of the Company at a price of $0.50 per Common Share (the “Offering”).
Gross proceeds raised from the Offering will be used for the development of proprietary large format Zinc-Manganese Dioxide (Zn-Mn02) rechargeable battery solutions for use in off-grid and grid-tied applications with an initial focus on residential and commercial backup power.
“While the transition away from fossil fuels is only beginning the industry is already experiencing exponential growth resulting in several issues including fire safety, the use of hazardous materials, increasing costs and long lead times,” said Wayne Hartford, CEO and Chairman of HES. “HES will be addressing these issues with Zn-Mn02 solutions using environmentally responsible materials that are non-flammable, non-hazardous, less expensive and readily available,” said Hartford.
The HES Zn-Mn02 system is based on technology previously developed by Wayne Hartford, Klaus Tomantschger and Dr. Karl Kordesch, the inventor of the single-use Zn-Mn02 “Alkaline” battery that continues to dominate the consumer battery market. Their work focused on the commercialization of small format AAA, AA, C and D size batteries resulting in products being sold internationally to major retailers, B2B and OEM customers. Early work on large format batteries during this period showed great promise. In recent years several million dollars has been spent on its continued development.
To bring the technology to market, HES is assembling a management team, Board of Directors and Advisors with over 250 years of experience developing and commercializing energy storage and other technologies and products. This includes energy storage executives who were instrumental in commercializing the original rechargeable Zn-Mn02 battery technology.
About Hartford Energy Solutions Inc.:
Hartford Energy Solutions Inc. is bringing to market next generation clean energy storage solutions with an initial focus on proprietary large format rechargeable zinc-manganese dioxide batteries for off-grid and grid-tied applications These applications include residential and commercial backup power, among others.
For more information please contact: info@hartfordenergysolutions.com