Zinc8 Energy Solutions has announced the on-time delivery of its zinc-air energy storage system to a low-energy-footprint estate in Surrey, BC, scheduled for December 21, 2020. The system, configured for 20 kW and 80 kWh, will integrate with an onsite solar array. This deployment marks a significant milestone in Zinc8's journey towards commercial production, expected in early 2023. The technology promises a cost-effective, scalable alternative to lithium-ion batteries, capable of supporting various applications, including renewable energy smoothing and industrial backup.
Zinc8 Energy Solutions (OTC PINK: MGXRF) has entered into an agreement with SmartConsult to explore joint-venture projects deploying its Zinc-Air Energy Storage System in Australia. This partnership aims to tap into SmartConsult's extensive connections in the renewable energy sector, especially at aquatic centers and remote mines. With over 8.5 MW of solar capacity installed, SmartConsult is well-positioned in the market. Zinc8's technology is expected to meet Australia's growing energy storage needs as the country moves towards eliminating greenhouse gas emissions.
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Zinc8 Energy Solutions (OTC PINK: MGXRF) announced a collaboration with Vijai Electricals Ltd to explore joint ventures for deploying its patented Zinc-Air Energy Storage System in India. With nearly 50 years in the industry, Vijai aims to leverage its global distribution network to enhance project pipelines for Zinc8's energy storage technology. This partnership positions Zinc8 to capture opportunities in India's renewable energy sector, potentially addressing the need for reliable energy systems.
Zinc8 Energy Solutions Inc. (CSE:ZAIR)(OTC:MGXRF) has successfully completed its non-brokered private placement, issuing 8,750,000 units at $0.16 each, raising $1,400,000 in gross proceeds. Each unit consists of one common share and a non-transferable share purchase warrant, exercisable at $0.30 for 24 months. Insiders participated, acquiring 2,266,250 units, exempt from certain valuation and approval requirements. Proceeds are designated for general working capital. All issued securities are subject to a four-month hold period.