Source: Zinc8 Energy Solutions
Disseminated on behalf of Zinc8 Energy Solutions Inc and Zimtu Capital Corp.
Zinc8 Energy Solutions has today announced a Deployment Agreement with Digital Energy Corp, a New York-based private sector developer of Combined Heat and Power (CHP) plants, solar systems and microgrids. This agreement is financially supported by The New York State Energy Research and Development Authority, known as NYSERDA, for the installation of a 100kW/1.5MWh Zinc-Air Energy Storage System in Brooklyn, New York.
Established in 1975, NYSERDA is a New York State public-benefit corporation that promotes energy efficiency and the use of renewable energy sources. Collectively, NYSERDA’s efforts aim to reduce greenhouse gas emissions, accelerate economic growth, and reduce customer energy bills.
The Zinc8 Energy Storage System will support and enhance the economics of a CHP system currently operating at Brooklyn, New York. NYSERDA is financially supporting this project deployment of CAD $2.5 Million, with a CAD $600,000 contribution as the result of a call for proposals. In addition, NYSERDA has chosen Digital Energy Corp, and Zinc8 as the Energy Storage System manufacturer to demonstrate the economics and reliability of Zinc8’s patented zinc-air battery technology for low-cost long-duration storage in a behind-the-meter application.
“This deployment marks a major milestone in Zinc8 Energy Solutions’ path to full commercialization and underscores the growing demand for low-cost reliable long-duration energy storage,” stated Ron MacDonald, President and CEO of Zinc8 Energy Solutions.
Source: Zinc8 Energy Solutions
Despite advances in storage technology, and ever-increasing numbers of deployments, several technological optimization opportunities still exist including hardware cost reductions, enhanced system performance (efficiency, life cycle and thermal stability), and integration field testing with the grid and other applications. Improving and optimizing these areas will accelerate the growth of energy storage deployment. 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.
“Digital Energy and Integrated Energy Concepts are excited about working with Zinc8 Energy on the development and deployment of the Zinc8 Energy Storage system. The Zinc8 system addresses several critical needs of on-site electric energy storage: Price point economics, system robustness under real-world use, and safety. 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,” said William Cristofaro, President and CEO of Digital Energy Corp.
“We are very pleased to be working with the well-respected US interconnect company Digital Energy Corp. who believes, as we do, that this new technology will open up a huge global opportunity for behind-the-meter, microgrid and utility-scale long-duration energy storage,” stated Mr. MacDonald, President and CEO of Zinc8 Energy Solutions.
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Rockstone Disclaimer: Rockstone Research, Zinc8 Energy Solutions Inc. / MGX Renewables Inc. and Zimtu Capital Corp. caution investors that any forward-looking information provided herein is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Zinc8 Energy Solutions Inc. / MGX Renewables Inc.´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through their profiles on SEDAR at www.sedar.com. Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. Zinc8 Energy Solutions Inc. / MGX Renewables Inc. pays Zimtu Capital Corp. to provide reports and other investor awareness services.The author, Stephan Bogner, holds a long position in Zinc8 Energy Solutions Inc. / MGX Renewables Inc. and is being paid by Zimtu Capital Corp. for the preparation and distribution of reports and other services, whereas Zimtu Capital Corp. also holds a long position in Zinc8 Energy Solutions Inc. / MGX Renewables Inc.
