Zinc8, and Its Leading Long-Duration Storage Technology, Has Been Selected as One of the Successful Applicants From 621 Startups From 61 Countries and 6 Continents for Prestigious Rocky Mountain Institute Accelerator Program
VANCOUVER, BC / December 1, 2020 / Zinc8 Energy Solutions Inc. ("Zinc8" or the "Company") (CSE:ZAIR) (OTC PINK:MGXRF) (FSE:0E9) is pleased to announce that it has been selected to join the Rocky Mountain Institute and Nexus Energy's ‘Third Derivative' Accelerator Program with its Zinc-Air Battery Energy Storage System technology.
Third Derivative is a global, vertically integrated engine for climate innovation. This prestigious accelerator program brings startups, investors, corporations, and market, regulatory, and policy insights into the same program, working closely together toward a common goal: to increase the success and speed to market for climate innovation. Third Derivative's mandate is to find, fund, hone, and scale the most-promising advanced energy technologies such as Zinc8's, to achieve larger, faster reductions in global carbon emissions.
"As a program seeking to accelerate the rate of commercialization for the world's most promising climate innovations, Third Derivative is excited to accept Zinc8 into our inaugural cohort. We believe that Zinc-Air flow batteries are an emerging and important form of long-duration power storage that is needed to facilitate high penetration of renewables. Zinc8's innovative use of low-cost zinc, thousands of hours of successful pilot-scale demonstrations and upcoming commercial-scale demonstrations in real-world settings sets it apart from other long-duration technologies.", said Cyril Yee PhD, Third Derivative's Head of Investments and Research.
The Zinc8 ESS is a long-duration (8-100 hours) energy storage solution made of safe, low-cost materials with a unique architecture that allows to extend the system's storage capacity with a minimal marginal cost. This unique feature, combined with deep cycling capabilities and durability, allows the Zinc8 ESS to reach a Levelized Cost of Storage (LCOS) orders of magnitude lower than comparable storage technologies for long-duration storage. Its system's modularity allows Zinc8 to offer configurations from 20 kilowatts to the order of a few megawatts.
"Being selected by Third Derivative through an international competition is a great honour and a validation of the hard work of the Zinc8 team. Harnessing the global network of Third Derivative and its founders, partners, and resources will certainly accelerate our path to full commercialization in 2023." said Zinc8 Energy Solutions President and CEO, Ron MacDonald.
Zinc8 Energy Solutions focuses on developing and commercializing the low-cost, long-duration zinc-air Energy Storage System (ESS) for utilities, microgrid, and Commercial & Industrial markets. By using the patented Zinc8 ESS as a standalone or an enabling technology, it allows opportunities for peak demand reduction, time-of-use arbitrage, and participation in both value stacking programs and the distributed long-duration energy storage space, all in conjunction with the opportunity for a significant reduction in carbon footprint.
Learn More about Third Derivative (D3) here: https://third-derivative.org
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 Zinc8 will reach full commercialization by 2023 and that D3's involvement will aid in Zinc8's success and speed to market; 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.