Monday 21st September 2020

Resource Clips

Zinc8 Energy Solutions signs second New York deal

by Greg Klein | March 11, 2020

Update: Effective March 20, 2020, MGX Renewables will trade as Zinc8 Energy Solutions CSE:ZAIR.

After inking an agreement with the state power authority in January, a provider of innovative long-term energy storage announced a second foray into New York. MGX Renewables CSE:MGXR has been chosen by Digital Energy Corp to install a 100 kW/1.5 MWh zinc-air energy storage system in Brooklyn. The deal will get C$2.5 million in support from the New York State Energy Research and Development Authority, a public benefit corporation committed to renewable energy and energy efficiency.

MGX Renewables Zinc8 Energy Solutions signs second New York deal

Zinc8’s Vancouver manufacturing plant
prepares to serve New York markets.

Using proprietary technology, Zinc8’s zinc-air regenerative fuel cell offers long-term electricity storage scaleable from 20 kW to megawatts, suitable for microgrids and utilities. The system provides the lowest costs for storage longer than eight hours, the company states.

Digital Energy develops Combined Heat and Power plants, solar systems and microgrids. The agreement calls for Zinc8’s system to be installed at a CHP plant now operating in Brooklyn. “This project is focused on advancing, developing and field testing the Zinc8 storage technology that will address cost, performance and integration challenges in New York state,” Zinc8 noted.

The agreement also calls for Zinc8 and Digital Energy to consider joint proposals on other projects. In return for the Brooklyn referral, Zinc8 will grant options to Digital Energy, which will also receive MGXR shares as the Brooklyn project advances.

“The Zinc8 system addresses several critical needs of on-site electric energy storage—price point economics, system robustness under real-world use and safety,” commented Digital Energy president/CEO William Cristofaro. “We see the Zinc8 system as very promising for integration into our existing and developing customer base of over 100 on-site power plants, solar systems and microgrids.”

In January the New York Power Authority chose Zinc8 out of more than 60 contenders to provide a 100 kW/1 MWh storage system in a demo facility for commercial or industrial use.

Zinc8’s system also has a residential application at suburban Vancouver’s 75.9 House, an innovative design that won a Future Project of the Year award at the World Architecture Festival 2019 in Amsterdam.

Last month the company closed a $3-million private placement.

Share |

View All: News Stories