MGX Minerals Announces Subsidiary ZincNyx Energy Solutions Joins Research Consortium to Develop Nanostructured Electrodes for Grid Scale Energy Storage
MGX Minerals Inc. (OTCQB: MGXMF, CSE: XMG; FRA: 1MG; ) is pleased to announce that 100% wholly-owned subsidiary ZincNyx Energy Solutions, Inc. and its research partners will receive a grant from Canada's Natural Science and Engineering Research Council (''NSERC'') to develop nanostructured material for their next generation Zinc-air energy storage.
The drive toward a renewable energy economy was recently given a big push by NSERC in this year's Strategic Partnership Grants announcement. ZincNyx, in a consortium with researchers from the Universities of Waterloo, Calgary, and Simon Fraser University, are exploring and developing materials for their next-generation Zinc-air energy storage system. The project, titled Grid-scale Energy Storage Using Zinc-air Fuel Cells with Nanostructured Electrodes, will receive a grant of $580,000 over the next three years to support research. The consortium will be studying the use of graphene-based materials that have shown impressive performance in the lab, and are ready to graduate to commercial applications.
''Graphene is getting a lot of attention for many applications, but is particularly promising for electrochemical reactions since it can perform on par with traditionally used platinum'' says project lead Prof. Jeff Gostick of the University of Waterloo. '' As engineers and applied scientists, it's very exciting for us to see our ideas leave the lab and get into the hands of an industrial product, it's what it's all about''
''ZincNyx is very pleased with the timing of the grant, which ties in perfectly with our business plan. We are entering early commercialization, but saw a strong need on the horizon to drive down costs to fuel further growth,'' points out ZincNyx CEO Suresh Singh. ''We are very pleased to be working with this particular group of researchers.''
The Team includes two Canada Research Chairs (Drs. Viola Birss and Erik Kjeang) as well as veteran electrochemical engineer Ted Roberts.
About ZincNyx Energy Solutions
ZincNyx has developed a patented regenerative zinc-air flow battery that efficiently stores energy in the form of zinc particles and contains none of the traditional high cost battery commodities such as lithium, vanadium, or cobalt. The technology allows for low cost mass storage of energy and can be deployed into a wide range of applications.
Unlike conventional batteries, which have a fixed energy/power ratio, ZincNyx's technology uses a fuel tank system that offers flexible energy/power ratios and scalability. The storage capacity is directly tied to the size of the fuel tank and the quantity of recharged zinc fuel, making scalability a major advantage of the flow battery system. In addition, a further major advantage of the zinc-air flow battery is the ability to charge and discharge simultaneously and at different maximum charge or discharge rates since each of the charge and discharge circuits is separate and independent. Other types of standard and flow batteries are limited to a maximum charge and discharge by the total number of cells as there is no separation of the charge, discharge and storage components.
The ZincNyx mission is to provide the lowest cost, longest duration and most reliable energy storage system for markets involving renewables firming, peak shaving, diesel generator replacement, telecom facility back-up, electrification of ferries and tug boats and electric vehicle charging support.
With a portfolio of 20 granted patents and an experienced management team, ZincNyx is now ready to start commercialization of the product.
To watch a short video outlining ZincNyx technology, please visit http://www.zincnyx.com/technology/.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. Learn more at www.mgxminerals.com.
In the interest of full disclosure, we call the reader's attention to the fact that Equities.com, Inc. is compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way be considered as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker dealer, investment advisor, financial analyst, investment banker or other investment professional. We are a publisher of original and third party news and information. All profiles are based on information that is available to the public. The information contained herein should not be considered to be complete and is not guaranteed by Equities.com to be free from misstatement or errors. The views expressed are our own and not intended to be the basis for any investment decision. Readers are reminded to do their own due diligence when researching any companies mentioned on this website. Always bear in mind that investing in early-stage companies is risky and you are encouraged to only invest an amount that you can afford to lose completely without any change in your lifestyle. Equities has been compensated with cash, common shares and/or warrants for market awareness services provided.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer
Source: Equities.com News
(May 25, 2018 - 12:06 PM EDT)
News by QuoteMedia
www.quotemedia.com
