Nickel-zinc battery developer PowerGenix has raised $17 million in a third round of financing, according to VentureWire (sub required).

Angeleno Group was reportedly the lead investor. The San Diego company says it has developed a rechargeable battery “that is as much as 75% lighter, ten times as powerful, 30% smaller and more environmentally friendly than existing nickel-cadmium or nickel-metal hydride batteries.”