VANCOUVER, BC / ACCESSWIRE / April 29, 2020 / Zinc8 Energy Solutions Inc. (CSE:ZAIR) (the “Company“) announces that due to circumstances created by the COVID-19 pandemic, the British Columbia Securities Commission and other members of the Canadian Securities Administrators granted issuers in the Canadian securities industry up to an additional 45 days to complete year-end statutory filings.
Due to delays associated with COVID-19, the Company does not believe that it will be able to file its December 31, 2019 audited annual financial statements by its usual 120-day deadline of April 29, 2020 and will be relying on the extension. Management anticipates the Company will file its annual financial statements and Management Discussion and Analysis on or before June 13, 2020.
As required by the conditions of the extension, the Company’s management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until its financial statements are filed.
All material business developments since the filing of the Company’s interim financial statements and associated management’s discussion and analysis, for the interim period ending September 30, 2019, have been disclosed by the Company by way of news release. Please view the company’s SEDAR profile at www.sedar.com for further information.
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:
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.
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.
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.
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
SOURCE: Zinc8 Energy Solutions Inc.
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