ZOOZ Power, the flywheel‑energy firm traded on both Nasdaq and the Tel Aviv Stock Exchange, said Tuesday it has secured a $180 million private placement that will fund a new strategy of holding bitcoin on its balance sheet—making it the first dually listed Israeli company to adopt a crypto‑treasury model.
The PIPE deal—subject to shareholder approval at an 8 September meeting—will see ZOOZ issue 180 million ordinary shares and prepaid warrants at $1 each to a syndicate led by Pantera Capital, FalconX, Arrington Capital, UTXO Management, ATW Partners and Israeli investor Alex Rabinovich. About 95 percent of the net proceeds will be used to build a bitcoin reserve; the rest will repay $3 million in debt and cover general corporate needs, the company said.
Alongside the fundraising, ZOOZ’s board appointed blockchain entrepreneur Jordan Fried—a founding executive of Hedera Hashgraph—as chief executive from 31 July. Current CEO Erez Zimmerman will remain in charge of the core flywheel‑energy and ultra‑fast EV‑charging business.
“This move lets investors in Israel and the US gain direct exposure to our bitcoin treasury strategy,” Fried said, adding that the dual listing gives ZOOZ “every tool to grow our holdings and signal innovation and confidence to the market.” Bitcoin has delivered a compound annual growth rate of roughly 82 percent over the past decade, he noted.
Board reinforcements include former Citigroup CFO Todd Thomson and ex‑Bank Leumi chairman Dr. Samer Haj‑Yehia, who will join on 31 July. Activist investor Jonathan Christodoro, a director at PayPal and former board member of eBay and Lyft, and Jonas Grossman, co‑founder of Chardan, are nominated for election at the next annual meeting.
Chairman Avi Cohen called the shift “a landmark moment” that places ZOOZ “at the cutting edge of financial innovation while reinforcing our long‑term resilience.” He argued that holding digital assets aligns the company with “an increasingly digital future” and can create “significant shareholder value.”
In a separate, smaller round set to close 31 July, ZOOZ will sell 2.5 million shares and prepaid warrants at $2 apiece to institutional investors, raising an additional $5 million. Each unit carries a warrant exercisable for two more shares at $3.06.
The securities are being issued in private placements exempt from US registration; ZOOZ said it will file a resale registration statement with the Securities and Exchange Commission.
Founded in Israel and known for its kinetic‑storage technology that boosts grid capacity for ultra‑fast EV charging, ZOOZ trades under the ticker ZOOZ on both exchanges. The company said the bitcoin reserve will act as a “strategic asset” alongside its energy hardware, driving growth and differentiation as global financial infrastructure evolves.