ZAF Energy Systems, Inc., announces the spinoff of Æsir Technologies, Inc., to provide advanced energy storage solutions to the specialty markets of aerospace, defense, medical, and critical infrastructure. Prior to Jan 01, 2021, Æsir had been a wholly-owned subsidiary of ZAF. On Jan 01, 2021,
this rearrangement takes the form of divestiture by ZAF of Æsir and an asset transfer from ZAF to Æsir of all its assets and operating employees. The legal definition of the relationship between ZAF and Æsir is known as a Section 355 spinoff.
From 2011 to 2016, ZAF’s intention was to operate as an “asset-light” company with an intellectual property (IP) sale or license as an exit strategy for the purpose of investor returns. However, in 2018 it started low-rate initial production (LRIP) factory operations in Joplin. with the intention to continue to serve customers in the aerospace and defense market indefinitely. As ZAF’s IP-portfolio, customer demand, manufacturing capability, and sustainability have now demonstrated, ZAF is preparing to assist license partners in the motive, industrial, energy storage system, and consumer markets to begin their product lines. “We built our LRIP line to seed the market and create demand for NiZn and to work out the necessary manufacturing equipment and processes,” said Randy Moore, ZAF’s (now Æsir’s) president and CEO. “That mission has been accomplished. Now we are focusing on fulfilling our current contracts with
the US Air Force and Navy and building a capacity to service sustained future demand.”
In spinning off Æsir to continue to serve the specialty markets, ZAF has granted Æsir a non-exclusive, license to use the NiZn Intellectual Property. Work will continue to be performed at (now) Æsir’s LRIP facility for all current and future contracts to continue to serve customers needing energy storage solutions in the specialty markets. “The simplified way to look at this,” said Kirk Plautz, ZAF’s, and now Æsir’s, VP of Marketing and Sales, “is as a rebranding of sorts. ZAF Energy has an exit strategy and Æsir
Technologies has an operations focus.”
Kirk Plautz, VP Sales & Marketing, ZAF Energy Systems/Æsir Technology, Inc., (813) 267-5669,