NEW YORK — ZincFive Inc., an Oregon-based manufacturer of nickel-zinc batteries for data centers and AI infrastructure, announced plans to go public through a merger with special purpose acquisition company Spark I Acquisition Corp., in a transaction that values the combined company at a pro forma enterprise value of approximately $752 million.
The deal, announced on June 11, 2026, values ZincFive at a $600 million pre-money valuation. It includes a committed $100 million PIPE investment and up to about $25 million from Spark I’s trust account, for expected gross proceeds of around $125 million. Upon closing, the combined company is expected to trade on Nasdaq under the ticker symbol ZFIV.
ZincFive develops proprietary nickel-zinc battery technology positioned as a safer, more sustainable alternative to lead-acid and lithium-ion batteries for mission-critical power applications. The company reported revenue of $69.9 million last year and an order backlog of about $81 million as of the end of 2025.
Proceeds from the transaction are intended to support production expansion, including building U.S. manufacturing capacity, and to address growing demand from data centers driven by AI infrastructure needs. ZincFive’s batteries are used for uninterruptible power supply systems that provide immediate, high-power-density response.
“The proposed transaction will provide ZincFive with additional capital to accelerate our growth and meet the surging demand for reliable, sustainable power solutions in data centers and AI infrastructure,” a company spokesperson said in the announcement.
Spark I Acquisition Corp. is sponsored by SparkLabs Group, a venture capital and accelerator firm. Both boards of directors have unanimously approved the business combination, which is expected to close in the second half of 2026, subject to shareholder approval, regulatory review and other customary conditions. Existing ZincFive shareholders are expected to roll 100% of their equity into the public company.
The SPAC route comes as the company seeks to capitalize on expansion opportunities in the data center sector. Details on specific post-merger governance and exact use of proceeds beyond general growth plans remain subject to final documentation.
ZincFive, headquartered in Tualatin, Oregon, has developed its technology over more than a decade, focusing on high-power, recyclable nickel-zinc chemistry. The merger reflects broader market interest in energy storage solutions tailored for AI-driven power demands. No immediate changes to operations were announced pending deal completion.
