ZEVX Closes Over $20 Million Funding Round Led by Reynolds Capital and Appoints New CEO and Board Members

GILBERT, Ariz. – ZEVX, Inc., a leading provider of intelligent EV power system delivery, has closed over $20 million in the first tranche of a funding round. Reynolds Capital, the investment arm of The Reynolds and Reynolds Company, led the funding, with other investors participating. The Reynolds and Reynolds Company is the top provider of automobile dealership software, services, and forms for better business results and customer experience transformation.

ZEVX is a rapid innovator in battery electric power systems and data intelligence for e-mobility applications. The company’s series of premier battery electric powertrain and power system products help Class 2-6 commercial fleet assets and auxiliary power tools migrate quickly to zero carbon. ZEVX’s platinum service mission starts with customers and operates through a deep partner network, using existing automotive service infrastructure and tier 1 fleet management companies.

The company also announced the appointment of Don Listwin as CEO and Kevin J. Kennedy as Chairman and independent Board member. David L. Shimek and Sidney Haider of The Reynolds and Reynolds Company have also joined the ZEVX Board of Directors. Don Listwin, former Executive Chairman, spent a decade at Cisco Systems as executive vice president and also served as CEO of Sana Security, Openwave Systems, and RapidAI. Carolyn Maury, the prior ZEVX CEO and Co-Founder, has assumed the roles of CFO and CAO.

According to Don Listwin, “ZEVX is leading the transformation of commercial fleets of all sizes toward electric and zero carbon,” and he believes the company is in one of the most impactful and promising businesses today. ZEVX’s notable funding news and new Board appointments have contributed to the momentum the company has already achieved.

David L. Shimek of The Reynolds and Reynolds Company expressed excitement about contributing to ZEVX’s growth and direction, as the company fills a niche not currently being met in the marketplace. With Kevin J. Kennedy, an engineering expert who has previously served as CEO of Avaya and JDS Uniphase Corporation, and Sidney Haider, founder of AddOnAuto and Senior Vice President of Mergers and Acquisitions for The Reynolds and Reynolds Company, joining the ZEVX Board of Directors, the company is well-positioned to continue driving existing truck fleets toward a cleaner and more economical future.


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