MGX Renewables Inc. DBA Zinc8 Energy Solutions Announces Grant of Stock Options

VANCOUVER, BC / ACCESSWIRE / February 18, 2020 / MGX Renewables Inc., DBA Zinc8 Energy Solutions (the “Company”) (CSE:MGXR) (FSE:0E9) is pleased to announce that it has granted an aggregate of 2,787,951 stock options to its directors, officers, employees and consultants for the purchase of up to 2,787,951 common shares of the Company pursuant to its Stock Option Plan. Each option is exercisable for a period of 5 years at a price of $0.32 per common share.

About Zinc8 Energy Solutions

Zinc8 Energy Solutions has assembled an experienced team to execute the development and commercialization of a dependable low-cost zinc-air battery. Zinc-air batteries can be ideal for mass storage systems and offer both environmental and safety benefits. Zinc8 Energy Solutions strives to meet the growing need for secure and reliable power.

To watch a short video outlining Zinc8 Energy Solutions’ 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.

Technology

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.

Applications

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.

Architecture

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

To watch a short video outlining Zinc8‘s technology, please visit: https://zinc8energy.com

Contact Information:

Patrick Butler
Corporate Development
Telephone: 1.604.681.1568
patrick@zinc8energy.com
Web: investors@zinc8energy.com

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.

SOURCE: Zinc8 Energy Solutions

View source version on accesswire.com:
https://www.accesswire.com/576832/MGX-Renewables-Inc-DBA-Zinc8-Energy-Solutions-Announces-Grant-of-Stock-Options

error: Content is protected !!