ZOOZ Power is expected to become the first dual-listed company on NASDAQ and the Tel Aviv Stock Exchange (TASE) to hold Bitcoin reserves.
The company’s board of directors has approved the new strategy, enabling investors direct exposure to Bitcoin.
Jordan Fried appointed CEO to lead Israel’s first digital asset strategy; Erez Zimmerman to continue leading flywheel-based energy technologies.
This is the largest capital raise to date for a digital asset reserve strategy by a non-U.S. publicly traded company.
Tel Aviv, Israel – July 29, 2025 – ZOOZ POWER Ltd. (NASDAQ and TASE: ZOOZ), a leading provider of flywheel-based grid enhancement and energy management solutions for ultra-fast EV charging, today announced a $180 million private investment in public equity (PIPE) from qualified and institutional investors. This marks the launch of its new Bitcoin reserve strategy. The raise, subject to shareholder approval, includes the allocation of 180 million ordinary shares and prepaid warrants at a price of $1.00 per ordinary share.
Notable investors in the round include: Pantera Capital, FalconX, Arrington Capital, UTXO Management, ATW Partners, and prominent Israeli investor Alex Rabinovich.
Alongside the transaction approval, the company’s board has appointed Jordan Fried – tech entrepreneur and serial investor – as CEO and board member, effective July 31, 2025. Fried was a founding member of the Hedera Hashgraph (HBAR) team. The current CEO, Erez Zimmerman, will continue to lead the company’s core business focused on energy enhancement and load management technologies.
New board members, effective July 31, include:
Todd Thomson, former CFO of Citigroup and CEO of its Wealth and Alternative Investments divisions;
Samir Haj Yahia, former Chairman of Bank Leumi.
Additional board nominees to be appointed at the company’s upcoming annual general meeting:
John Christodoro – former director at PayPal, eBay, Xerox, Herbalife, Lyft, and more;
Jonas Grossman – Co-Founder and President of Chardan.
Incoming CEO Jordan Fried stated:
“Transforming ZOOZ into a Bitcoin reserve pioneer, dual-listed on both exchanges, allows investors in the U.S. and Israel direct access to our model. We intend to leverage the advantages of dual listing to expand our Bitcoin holdings and signal innovation and confidence to the investor community. The company will leverage all resources available to a dual-listed firm to grow its Bitcoin reserves, sending a clear message to crypto stakeholders and innovation-driven audiences that we’re forward-thinking. We see our reserves becoming a strategic asset that drives growth, stability, and differentiation.”
Bitcoin has yielded a CAGR of ~82% over the past decade.
Avi Cohen, Chairman of the Board, added:
“This strategic shift marks a significant milestone. We are the first to hold Bitcoin reserves under a dual listing – on NASDAQ and TASE. This positions us at the forefront of financial innovation while enhancing our long-term financial resilience. As the global financial infrastructure evolves, we see digital assets as a major growth opportunity. Holding Bitcoin reserves aligns perfectly with a digital future, and we believe it will create substantial long-term shareholder value.”
Funding Details
Main PIPE Round: Subject to shareholder approval expected on September 8, 2025. Upon closing shortly thereafter, the company expects to raise approximately $180 million gross, allocating approximately 95% of the proceeds (after repaying about $3 million in debt) to launch its Bitcoin reserve strategy. The remaining funds will be used for general corporate purposes.
Additional Private Placement: A separate initial private raise from qualified institutional investors is expected to close on July 31, 2025, allocating 2.5 million shares (and prepaid warrants) at $2.00 per share. Each share (or fully paid warrant) will be accompanied by a warrant to purchase two additional shares at an exercise price of $3.06. This round is expected to raise approximately $5 million gross.
The securities issued in these placements are private offerings, not registered under the U.S. Securities Act. ZOOZ and the investors have signed a registration rights agreement under which the company will file a registration statement with the U.S. SEC to register the issued shares.
This press release does not constitute an offer to sell or solicitation to buy securities in any jurisdiction where such an offer would be unlawful.
Advisors
Chardan – Sole placement agent
Cooley LLP – U.S. legal counsel to ZOOZ
Shibolet & Co. – Israeli legal counsel to ZOOZ
Goodwin Procter LLP – U.S. legal counsel to Chardan
Sullivan & Worcester LLP – Israeli legal counsel to Chardan
MS-IR LLC – U.S. investor relations advisor
PwC Israel – ZOOZ’s independent auditors
