Zinc8 Energy Solutions Inc. Announces Official Name Change

MGX Renewables Inc., DBA Zinc8 Energy Solutions ("Zinc8" or the "Company"), is pleased to announce that it is changing the official name of the Company (the "Name Change") to Zinc8 Energy Solutions Inc. The Company has operated under the business name Zinc8 Energy Solutions for the past half year, but its legal name had not changed until now. The Name Change will become effective at opening of the market on March 20, 2020 under the new symbol "ZAIR". The new CUSIP number is 98959U108.

"This announcement is the latest step we have taken at Zinc8 Energy Solutions to bring clarity to the global market about who we are and the business we are in, long duration Zinc-Air energy storage. This official name change follows two recent Zinc8 announcements; our contract award and project collaboration with the New York Power Authority (NYPA) and our private sector deployment agreement with Digital Energy supported by Nyserda", said Ron MacDonald, Zinc8 Energy Solutions, President and CEO.

About Zinc8 Energy Solutions

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 watch a short video outlining 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.

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

Zinc8 Energy Solutions I www.zinc8energy.com