2022-04-07 14:07:00
VANCOUVER, BC, April 7, 2022 /CNW/ – Zinc8 Energy Solutions Inc. (“Zinc8” or the “Company“) (CSE: ZAIR) (OTC: ZAIRF) (FSE: 0E9) is pleased to announce it has named Bernard Pinsky, Q.C. to its Board of Directors effective immediately.
Mr. Pinsky, is currently the chair of the board and a founding director of the Ronald S. Roadburg Foundation, one of the largest philanthropic foundations in British Columbia. Additionally, he practiced law for over 34 years at the law firm of Clark Wilson LLP in Vancouver, BC where he was a senior partner and the co-head of the Corporate Finance and Securities Group up until December 31, 2021. He was lead outside counsel for the Company at the time of his retirement from public practice, a role that he held since November of 2019.
During his tenure in public practice, he advised a variety of private and public companies and securities brokerage firms on legal matters related to acquisitions, mergers, takeovers, initial public offerings, financings, cross-border transactions, public and private company regulatory compliance and stock exchange practice. He earned the Best Lawyers in Canada recognition as Best Lawyer for Securities Law annually from 2014 to 2021 and was appointed as British Columbia Queen’s Counsel in recognition of exceptional merit and contribution to the legal profession in 2014.
“We welcome Bernard back to the Company in his new capacity as a member of the Board of Directors,” said Ron MacDonald, President and CEO of Zinc8 Energy Solutions Inc. “His years of experience with Zinc8, and navigation through the complexities of various securities and business laws, will be a valuable addition of skill sets. I look forward to working with Bernard again as we continue to advance Zinc8 through further growth and commercialization.”
“I am excited to join Zinc8’s Board and help push the Company and its products towards commercialization,” commented Mr. Pinsky.” The management team has assembled a team of talented individuals and I believe my legal experience will prove beneficial in development of the Company’s corporate strategies.”
Mr. Pinsky has been granted 1,000,000 stock options exercisable at an exercise price of $0.22 and are exercisable for 10 years.
Zinc8 Energy Solutions focuses on developing and commercializing its low-cost, long duration ZESS for utilities, microgrid, and Commercial & Industrial markets. By using the patented ZESS as a standalone 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 (8-100+ 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. To learn more about 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
Notice Regarding Forward Looking Statements
All statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Zinc8 Storage anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking statements.
Forward looking statements in this press release include that we can execute the development and commercialization of a dependable low cost zinc-air battery; that our mass storage system offers both environmental and efficiency benefits; and that we can help meet the needs for secure and reliable power. Zinc8 Energy Solutions believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: that we are not able to raise funds as expected; that our technology fails to work as expected or at all; that our technology proves to be too expensive to implement broadly; that customers do not adapt our products for being too complex, costly, or not fitting with their current products or plans; our competitors may offer better or cheaper solutions for battery storage; general economic, market and business conditions; increased costs and expenses; inability to retain qualified employees; our patents may not provide protection as expected and we may infringe on the patents of others; the completion of our planned private placement or are unable to raise all of the funds we are seeking to raise; and certain other risks detailed from time to time in Zinc8 Energy Solution’s public disclosure documents, copies of which are available on the Company’s SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the CSE nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
