Breaking News: MGX Renewables Inc. Announces Commercialization Milestone Agreement | Financial Buzz

Breaking News: MGX Renewables Inc. Announces Commercialization Milestone Agreement

MGX Renewables Inc. (CSE: MGXR) (OTC: MGXRF) DBA Zinc8 Energy Solutions (“Zinc8” or the “company”) is pleased to announce that it has arranged to deploy its zinc-air energy storage system at an innovative, low-energy-footprint estate in Surrey, BC.

The residence known as ‘75 house’ presently under construction on the estate includes many features that make it architecturally unique and that lead to very low energy consumption. The concrete structure of the building not only provides exceptional thermal insulation but also enables the surrounding landscape to be sculptured around and even over parts of the building. Designed by renowned architect Omer Arbel, the residence makes use of a technique of pouring concrete into fabric formwork deployed within minimal plywood rib structures, yielding walls and columnar roof forms. The design has been selected to the shortlist of entries at the World Architecture Festival to be held in Amsterdam in December 2019.

The capacity of the energy storage system to be installed by Zinc8 is presently configured to be 40 kW and 160 kWh, but the flexibility of the Zinc8 system enables it to be easily modified to meet any change in demand. The system will be integrated with an onsite solar array to provide the main source of power to the estate. Installation and commissioning of the system is currently scheduled for Q2/Q3 2020 in alignment with the building construction timeline.

Said property owner Joe Haley, “We are extremely excited to be working with Zinc8 to implement a new innovative zinc-air energy storage system for our build. Working with our world class architect with the intention to achieve a net zero home, in this all concrete modern structure. We feel this house will be one for the ages with its forward thinking and design.”

Said Zinc8 President and CEO Ron Macdonald, “This deployment agreement marks a significant milestone towards the commercialization of our breakthrough, long-duration, energy storage technology. We are extremely excited to have been chosen to be part of this construction that has attracted international attention for its unique architecture and respect for the environment.”

The Zinc8 Energy Storage System is a modular system designed to deliver power in the range of 20 kW to 1 MW or more and energy in the range of 160 kWh to 8 MWh or more. With the advantage of rechargeable zinc-air battery technology, the system can be configured to support a wide range of discharge power, recharge power and duty cycle requirements. Since the energy storage capacity of the Zinc8 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 for users requiring high storage capacity.

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