Zinc8 Energy Solutions (CSE:ZAIR) (OTCMKTS:MGXRF) (FRA:0E9) revealed on Monday that it has signed an agreement in principle with Australian engineering firm SmartConsult (The Wyer Company Pty Ltd).
In a statement, the Vancouver-based company said the firms have agreed to explore joint-venture projects linked to the deployment of Zinc8's patented Zinc-Air Energy Storage System.
The agreement focuses on deploying the Zinc-Air Energy Storage System at aquatic centres, remote mines and behind-the-meter applications using SmartConsult's extensive knowledge, and relations with a broad range of energy users, energy systems suppliers and a pipeline of customers in Australia, said the company.
SmartConsult has built an extensive network through the deployment of 128 commercial projects with a total of over 8.5 megawatt of installed solar capacity. The agreement also begins the joint examination of microgrids and utility-scale transmission and distribution opportunities in Australia, said the company.
"Australia is one of the world's leading countries on moving to complete elimination of greenhouse gas (GHG) producing power generation, through the rapid integration of renewables and energy storage,” Zinc8 Energy Solutions CEO Ron Macdonald said in a statement.
“SmartConsult, as an Australian industry leader in renewable energy projects, is the ideal company to work with to deploy Zinc8's long-duration storage system to this rapidly developing market."
In recent years, Australia and the Australian Renewable Energy Agency (ARENA) have been setting more aggressive renewable energy and energy storage targets, with significant funding support for 543 projects to date and a total of A$1.58 billion invested to expand the development and deployment of GHG reducing energy projects.
SmartConsult CEO Luke Hardy said: "We are very excited to collaborate with Zinc8 in Australia, we have been looking for a battery solution that does not have the inherent issues that surround existing battery types with uncertain cycle life and limited longevity. The Zinc8 solution will be ideal for our large-scale industrial customers."
The Zinc8 Energy Storage System is a modular energy storage system designed to deliver power in the range 20 kilowatt to 50 megawatt with capacity of 8 hours of storage duration or higher.
Zinc8 has developed innovative battery technology that uses zinc and air as fuel. 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 combine 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 company is redefining energy storage, with its low-cost Zinc-Air battery offering a 20,000-hour operating life and over eight hours of storage.
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