Business
Zimtu Capital to Increase Investment Holdings in Battery Storage Company, Zinc8 Energy Solutions
VANCOUVER, BC / ACCESSWIRE / March 11, 2020 / Zimtu Capital Corp. ("Zimtu") (TSXV:ZC)(Frankf...
About this update from Zimtu Capital Corp.
[{"type":"text","content":"Zimtu Capital to Increase Investment Holdings in Battery Storage Company, Zinc8 Energy SolutionsVANCOUVER, BC / ACCESSWIRE / March 11, 2020 / Zimtu Capital Corp. (\"Zimtu\") (TSXV:ZC)(Frankfurt:ZCT1) an investment issuer with the objective of achieving long-term capital appreciation for its investors, is pleased to have negotiated acquisition and control in a private transaction over 5,500,000 common shares in the capital of MGX Renewables Inc., (DBA Zinc8 Energy Solutions Inc. (\"Zinc8\")), a Vancouver, B.C. developer and manufacturer of long-duration, low-cost zinc-air energy storage solutions,\"The acquisition of these additional shares represents our support and confidence in Zinc8 Energy Solutions Inc. executive leadership and technology which will allow for the low-cost mass storage of energy which can be deployed into a wide range of scalable energy storage applications,\" commented Dave Hodge, President and Director of Zimtu.Ron MacDonald, CEO of the Zinc8, commented: \"We are extremely pleased to welcome the increased participation by Zimtu Capital. This vote of confidence at this early stage is invaluable. I look forward to working together with our strategic investors as we grow Zinc8 into a leading supplier of Zinc-air batteries for the battery storage sector.\"About Zinc8Zinc8 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 ...