Proactive Investors - Run By Investors For Investors

MGX Minerals' renewables subsidiary to list on CSE

MGX Renewables is developing zinc-air flow batteries as an alternative to lithium-ion batteries for applications that require long duration, high capacity storage
batteries
Zinc-air flow batteries can be used in a wide range of energy storage applications

MGX Minerals Inc (CSE:XMG) announced that its 100%-owned subsidiary, MGX Renewables Inc, has received conditional approval to list on the Canadian Securities Exchange.

The subsidiary, MGX Renewables, is developing zinc-air flow batteries as an alternative to lithium-ion batteries for applications that require long duration, high capacity storage.

READ: MGX Minerals eyeing revenue of C$2 million from ground-breaking wastewater systems

The patented technology stores energy in the form of zinc particles and does not require higher-cost feedstock such as lithium, vanadium or cobalt. Zinc-air flow batteries can be used in a wide range of energy storage applications in the fields of renewable energy, industrial backup power and grid-scale energy.

A key differentiator between the two batteries is the power ratio. Where lithium-ion batteries have a fixed energy to power ratio, zinc-air flow batteries use a fuel tank system that offers flexible energy storage to power ratios and scalability. The storage capacity is tied to the fuel tank’s size and the quantity of recharged zinc fuel, allowing for a lower scalability cost.

MGX is currently seeking regulatory approval for its system while it is undergoing a market analysis study to understand market potential for zinc-air flow batteries. Recent results indicate a large market for long-duration energy systems lasting up to 100 hours.

Shares of MGX Renewables’ parent company MGX Minerals closed at $0.25 on Wednesday.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

View full XMG profile View Profile

MGX Minerals Inc. Timeline

Related Articles

Eureka open pit
February 03 2019
The company aims to recommence gold production at the Eureka open-pit.
A Western Australian map showing company projects
March 18 2019
Geologist and finance professional Ian Stuart became the company’s chairman last month.
project area
February 05 2019
Drilling to improve the JORC classification and extend the current resource will start this quarter.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use