VANCOUVER, BRITISH COLUMBIA / August 21, 2018 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FKT: 1MG) is pleased to announce that its wholly owned subsidiary ZincNyx Energy Solutions, Inc. (“ZincNyx”) has engaged the CSA Group for testing, inspection and certification with respect to obtaining regulatory approval under the UL 1973 standard for its 20kW output / 120kWh storage Zinc-Air Fuel Cell Battery. The UL (Underwriters Laboratories) standard applicable to this mass storage battery is titled “Standard for Batteries for Use in Light Electric Rail (LER) Applications and Stationary Applications” and provides the basis on which flow-batteries may obtain approval for deployment in North America and abroad.
The modularity and consistency of the ZincNyx product is beneficial to the regulatory approvals process. The separation of functions into fuel regeneration, fuel storage and power generation subsystems simplifies the approvals process by allowing each function to be evaluated individually without the complication of interaction with other subsystems. It also enables common components and materials to be evaluated only once and the results applied system-wide. The scalability of the system further enables testing to be performed at small scale and then applied to large scale modular deployments.
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 has begun mass production (see press release August 9, 2018).
To learn more about ZincNyx technology visit www.zincnyx.com.
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.
President & CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.
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