ZOOZ Power Secures $180M to Fund Bold Bitcoin Treasury Strategy

ZOOZ Power Ltd. (Nasdaq and TASE: ZOOZ) is set to make history by becoming the first dual-listed company on Nasdaq and TASE to integrate Bitcoin into its treasury.

The Tel Aviv-based company announced a $180 million private placement (PIPE) with major institutional investors including Pantera Capital, FalconX, Arrington Capital, and UTXO Management. The strategic move is aimed at launching a comprehensive Bitcoin Treasury Reserve Strategy.

The PIPE involves the sale of 180 million ordinary shares and pre-funded warrants at $1.00 each, pending shareholder approval. ZOOZ plans to allocate roughly 95% of the net proceeds toward purchasing Bitcoin, transforming the company into a unique publicly traded vehicle offering direct exposure to digital assets.

Leadership Shift to Steer Digital Future

In tandem with the treasury shift, Jordan Fried, a founding team member of Hedera Hashgraph, will take over as CEO on July 31. Fried brings extensive blockchain experience and will lead ZOOZ’s digital asset strategy.

Outgoing CEO Erez Zimerman will continue to oversee the firm’s core flywheel-based EV charging solutions, maintaining ZOOZ’s commitment to sustainable energy technologies.

ZOOZ is also enhancing its corporate governance with seasoned financial veterans. Joining the Board are Todd Thomson, former CFO of Citigroup, and Samer Haj-Yehia, former chairman of Bank Leumi.

Two additional nominations, John Christodoro (formerly on boards of PayPal and Lyft) and Jonas Grossman of Chardan, will be put to vote in the upcoming shareholders’ meeting on September 8.

Bitcoin as a Strategic Asset for Shareholder Growth

According to ZOOZ’s Executive Chairman Avi Cohen, this pivot reflects a long-term vision to align with the digital financial future. “We believe Bitcoin, with its 82% CAGR over the past decade, offers asymmetric upside and long-term value creation,” Cohen stated.

ZOOZ’s bold strategy echoes moves made by U.S. companies like MicroStrategy but is groundbreaking in the Israeli context. With additional $5 million raised through a separate initial private placement, the company is doubling down on becoming a digital asset powerhouse while continuing its energy innovation legacy.

As the company awaits final shareholder approval, the financial world is watching closely as ZOOZ pioneers a new path at the intersection of clean tech and crypto finance.