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Zinc8 Energy Solutions Inc
Symbol ZAIR
Shares Issued 149,934,610
Close 2022-01-17 C$ 0.27
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Zinc8 Energy signs host site deal with Fresh Meadows

2022-01-18 07:59 ET - News Release

Mr. Ron MacDonald reports

ZINC8 ENERGY SOLUTIONS INC. ANNOUNCES SIGNING OF HOST SITE AGREEMENT WITH PARTNER DIGITAL ENERGY & FRESH MEADOWS COMMUNITY APARTMENTS IN QUEENS, NEW YORK

Zinc8 Energy Solutions Inc. has provided a corporate update.

Further to the private sector deployment agreement with Digital Energy Corp. announced in March, 2020, to install its patented zinc-air energy storage system (ZESS), a host site agreement has been signed with Fresh Meadows LLC in Queens, N.Y., community apartments owned by Cammeby's Realty Corp.

Zinc8 Energy Solutions and partner Digital Energy, a New York-based private sector developer of combined heat and power (CHP) plants, solar systems, and microgrids, have concluded negotiations and have signed a host site agreement with Fresh Meadows Community Apartments in Queens, N.Y., to install a 100-kilowatt/1.5-megawatt-hour ZESS for the purpose of demonstrating its long-duration energy storage capability. This agreement is financially supported by the New York State Energy Research and Development Authority, known as Nyserda, with a contribution of $575,000.

The ZESS will support and enhance the economics of a CHP system currently under construction at Fresh Meadows Apartments along with an existing solar system. Nyserda is financially supporting this project deployment as the result of a call for proposals. In addition, Nyserda has chosen Digital Energy, 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.

Fresh Meadows Community Apartments is a master-planned 32-building housing development, which is owned by Cammeby's Realty. Cammeby's Realty was founded in 1978, and currently owns and operates hundreds of facilities in the state of New York with over $13-billion (U.S.) in assets under management.

"We continue to strengthen our position in the state of New York with the support of organizations like Digital Energy Corp. and Nyserda," stated Ron MacDonald, president and chief executive officer of Zinc8 Energy Solutions. "The signing of this host site agreement is another important milestone for Zinc8, and we are looking forward to collaborating with Digital Energy Corp. on this exciting project owned by one of New York's most prestigious and well-known real estate management companies. This an opportunity for Zinc8 to further develop a pipeline of projects and establish a foothold in the New York City market."

Established in 1975, Nyserda is a New York 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. 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.

"Digital Energy and Integrated Energy Concepts are excited about working with Zinc8 Energy on the deployment of the Zinc8 Energy storage system at Fresh Meadows Apartments. Zinc8's energy storage system offers a safe, robust and economic solution, and we welcome the opportunity to showcase their systems to our customer network," said William Cristofaro, president and CEO of Digital Energy and Energy Concepts.

Under the deployment agreement with Digital Energy, Zinc8 and Digital will not only work together on the Fresh Meadows project but continue working to identify similar projects in the New York market.

Zinc8 Energy Solutions focuses on developing and commercializing its low-cost, long-duration ZESS for utilities, microgrid, and commercial and industrial markets. By using the patented ZESS as a stand-alone or an enabling technology, it allows opportunities for peak demand reduction, time-of-use arbitrage and participation in both the value stacking programs and the distributed long-duration energy storage space, all in conjunction with the opportunity for a significant reduction in carbon footprint. The long-duration (eight to over 100 hours) ZESS has no fire and explosion risk, has no capacity fade over extensive lifetime, and offers complete charge operational flexibility.

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.

More about the Zinc8 energy storage system (ESS)

The Zinc8 ESS is a modular energy storage system designed to deliver power in the range 20 kilowatts to 50 megawatts with capacity of eight 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.

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