VANCOUVER, BC - September 22, 2020 / Zinc8 Energy Solutions Inc. ("Zinc8" or the "Company") (CSE:ZAIR / OTC PINK:MGXRF / FSE:0E9) is pleased to announce that it was selected as a winner of the New York City ("NYC") Department of Buildings Carbon Neutrality Innovation Challenge. Four companies, including Zinc8 Energy Solutions were selected with the goal of increasing energy efficiency in NYC.
The winners of this challenge will be supported for inclusion in the 2020 NYC Building Code. Zinc8's Patented Zinc-air Energy Storage Solution was the only energy storage solution chosen as a winner. The Department of Buildings in New York City regulates the lawful use of over one million buildings and construction sites across the 5 boroughs.
The Carbon Neutrality Innovation Challenge received submissions from a wide range of design, construction and technology organizations with ideas ranging from new sustainable technology solutions to existing building retrofits. NYC's Department of Buildings in-house Innovation Committee, which included department staff and experts from the private sector, selected winners based on feasibility, impact and innovation.
"We are honoured to have been chosen as a winner of the DOB Innovation Challenge. NYC is a global leader in sustainable innovation, and we are pleased to join the Department of Buildings in its mission to carbon neutrality for all of the citizens of New York City." said Ron MacDonald, President and CEO of Zinc8 Energy Solutions.
The competitions goal was to generate ideas to contribute to NYC's ambitious goal of becoming carbon neutral by 2050, as a result of being selected Zinc8 will be presenting at DOB's digital industry conference, Build Safe | Live Safe Digital 2020: Safety, Innovation, & Sustainability. You can watch the presentations live today, Tuesday September 22 at 4:30PM EDT by registering here.
About NYC Department of Buildings
The Department of Buildings promotes the safety of all people that build, work, and live in New York City by regulating the lawful use of over one million buildings and construction sites across the five boroughs. With a focus on safety, service, and integrity, the Department enforces the City's Construction Codes, Zoning Resolution, and the New York State Multiple Dwelling Law.
About Zinc8 Energy Solutions Inc.
Zinc8 has assembled an experienced team to execute the development and commercialization of a dependable low-cost zinc-air battery. This mass storage system offers both environmental and efficiency benefits. Zinc8 strives to meet the growing need for secure and reliable power.
To learn more about Zinc8's technology, please visit: https://zinc8energy.com
More about the Zinc8 Energy Storage System (ESS)
The Zinc8 ESS is a modular Energy Storage System designed to deliver power in the range 20kW - 50MW with capacity of 8 hours of storage duration or higher. With the advantage of rechargeable zinc-air flow battery technology, the system can be configured to support a wide range of long-duration applications for microgrids and utilities. Since the energy storage capacity of the system is determined only by the size of the zinc storage tank, a very cost-effective and scalable solution now exists as an alternative to the fixed power/energy ratio of the lithium ion battery.
The Zinc8 ESS is based upon unique patented zinc-air battery technology. Energy is stored in the form of zinc particles, similar in size to grains of sand. When the system is delivering power, the zinc particles are combined with oxygen drawn from the surrounding air. When the system is recharging, zinc particles are regenerated, and oxygen is returned to the surrounding air.
The flexibility of the Zinc8 ESS enables it to service a wide range of applications. Typical examples include:
- Smoothing energy derived from renewable sources such as wind and solar
- Commercial/Industrial backup replacing diesel generators
- Industrial and grid scale, on-demand power for peak shaving and standby reserves
- Grid-scale services such as alleviating grid congestion, deferring transmission/distribution upgrades, energy trading and arbitrage, and increasing renewable energy penetration.
The Zinc8 ESS is designed according to a modular architecture that enables a wide variety of system configurations to be created from a small number of common subsystems. Each subsystem implements a single element of the technology:
- The Zinc Regeneration Subsystem (ZRS) provides the recharging function
- The Fuel Storage Subsystem (FSS) provides the energy storage function
- The Power Generation Subsystem (PGS) provides the discharging function
Notice Regarding Forward Looking Statements
This news release contains certain statements or disclosures relating to Zinc8 Energy Solutions that are based on the expectations of its management as well as assumptions made by and information currently available to Zinc8 Energy Solutions which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Zinc8 Storage anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking statements.
Forward looking statements in this press release include that we can execute the development and commercialization of a dependable low cost zinc-air battery; that our mass storage system offers both environmental and efficiency benefits; and that we can help meet the needs for secure and reliable power. Zinc8 Energy Solutions believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: that our technology fails to work as expected or at all; that our technology proves to be too expensive to implement broadly; that customers do not adapt our products for being too complex, costly, or not fitting with their current products or plans; our competitors may offer better or cheaper solutions for battery storage; general economic, market and business conditions; increased costs and expenses; inability to retain qualified employees; our patents may not provide protection as expected and we may infringe on the patents of others; and certain other risks detailed from time to time in Zinc8 Energy Solution's public disclosure documents, copies of which are available on the Company's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the CSE nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For more information please contact:
Incite Capital Markets
Kristian Schneck / Eric Negraeff
Zinc8 Energy Solutions Inc.