ZOOZ Power Appoints Erez Zimerman as New CEO

Tel Aviv, August 13, 2024 – ZOOZ POWER Ltd. (NASDAQ and TASE: ZOOZ), the leading provider of Flywheel-based power boosting and power management solutions enabling ultra-fast multi-port EV charging, announced today the appointment of Erez Zimerman as its new Chief Executive Officer. Erez is expected to start on September 17th, 2024.

With a distinguished career spanning hardware, software, and chemistry, Erez Zimerman brings a wealth of experience and a proven track record of driving company turnarounds, leading successful IPOs and acquisitions, and scaling global sales operations. Prior to joining ZOOZ Power, Mr. Zimerman held executive roles at Massivit 3D (TASE: MSVT), where he served as a CEO since 2019 and VP of Sales & Marketing before that.

During his tenure at Massivit, Erez spearheaded the company’s turnaround, culminating in a successful IPO on the TASE and a capital raise of $52 million. He drove significant growth by expanding the product portfolio with over 50 patents, leading to the launch of six successful large-scale machines and substantial revenue increases from printer and consumable sales. Under his leadership, Massivit achieved double-digit revenue growth, deployed over 230 printers worldwide, and attracted top-tier clients, including Disney, Toyota and Volkswagen. Mr. Zimerman also secured a strategic co-branding agreement with SIKA. Additionally, Mr. Zimerman established international subsidiaries across multiple countries, while ensuring regulatory compliance and optimizing financial operations.

Before Massivit, Mr. Zimerman held different roles, pioneering in the 2D and 3D printing industry at Indigo / HP, Scitex Vision / HP, Objet Geometries / Stratasys, Matan / EFI. His diverse leadership positions included Electronics Team Leader, Product Marketing Manager, Asia Pacific Sales Manager, and VP Business Development, showcasing his versatility and strong execution.

Avi Cohen, ZOOZ Power’s Executive Chairman of the Board said: “We are excited to welcome Erez to ZOOZ Power, we are confident that his enthusiasm, extensive leadership experience, ability to secure fortune 500 companies as customers, and successful implementation of global sales strategies will be instrumental in leading ZOOZ Power as the company embarks on its next phase of growth and commercialization.”