LONDON — ReVolt Technology Ltd. (Staefa, Switzerland), the startup developing rechargeable zinc-air battery technology, has secured Euros 10 million in a second round of financing that also includes a new strategic investor in the form of RWE, one of Europe's largest energy groups and a pioneer in renewable energy sources.

Participants include existing investors NorthZone Ventures, SINTEF, SOFINNOVA Partners, TVM Capital, Verdane Capital and Viking Venture , and Euros 5.5 millon from RWE Innogy, which handles RWE's holdings in renewable energies.

ReVolt has now raised Euros 24 million since it was formed as a spinoff from Norwegian contract research institute Sintef in 2004. The company's founder and chief technology officer, Trygve Burchardt, has developed rechargeable zinc-air battery technology, which the company claims delivers substantially higher energy density at a competitive price compared to other rechargeable batteries and could replace lithium-ion batteries currently used in portable applications.

Dr. Hugues Delmaire of RWE Innogy is joining ReVolt Technology's board of directors and will provide additional leadership and direction to the sales and development team, according to the company.

"The ReVolt Technology team is delighted to add RWE Innogy as an investor and strategic partner in its efforts to transform renewable energy storage for consumer and industrial applications," stated James McDougall, CEO of ReVolt Technology Ltd, in a statement.

ReVolt is included in the latest iteration of EETimes' Silicon 60 list of emerging startups.

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