Leonid Capital Partners (“Leonid”), a leading investment firm focused on high-growth technology companies working in the national security industry, today announced it is providing a new $12MM revolving line of credit to Zeno Power.

Zeno Power is building commercial radioisotope power systems, transforming nuclear waste material into sustainable, safe, and reliable power for uses in frontier environments from the seabed to the lunar surface. Zeno successfully demonstrated its first strontium-90 heat source at Pacific Northwest National Laboratory in late 2023, and has over $60M in contracts with NASA, the U.S. Navy, and the U.S. Space Force.

“Zeno Power is providing clean, sustainable energy for U.S. space and terrestrial missions and introducing a new category of power systems to the commercial market,” said James Parker, Co-Founder of Leonid Capital Partners. “We are proud to partner with them as they provide this unique and innovative technology to both government agencies and private sector firms in the United States.”

This deal is the latest financing agreement Leonid has made this year with companies working to provide sustainable solutions to U.S. energy problems. The partnership with Zeno Power demonstrates Leonid’s commitment to empowering scientists, engineers, and innovators with the capital required to develop environmentally impactful technologies.

Founded in 2019, Leonid is a specialized credit provider for businesses that contract with the federal government for highly technical engagements in fields such as software, biotech, and engineering. Leonid’s loans and lines of credit support a wide variety of contract types (including PoRs, OTAs, SBIR/STTR, and others) designed by the U.S. federal government to encourage research, service, and product solutions for critical areas of need.

About Leonid Capital Partners

Leonid Capital Partners provides capital for critical national security initiatives through credit investments. The firm leverages its deep government and technical expertise to provide its portfolio companies with the flexible resources they need to grow their business.

Learn more at leonidfinance.io.

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