MGX Minerals Announces Product Lineup for Next Generation Zinc Air Fuel Cell Systems
October 03 2018 - 8:00AM
InvestorsHub NewsWire
MGX Minerals
Announces Product Lineup for
Next Generation Zinc Air Fuel Cell
Systems
Vancouver, BC --
October 3, 2018 -- InvestorsHub NewsWire -- MGX Minerals
Inc. (“MGX” or the “Company”) (CSE:
XMG / FKT:
1MG / OTCQB:
MGXMF) is pleased to announce that its wholly
owned subsidiary ZincNyx Energy Solutions, Inc.
(“ZincNyx”) has released preliminary datasheet specifications for
its product line of next generation zinc-air energy storage
systems. Details are as follows:
ZincNyx
Energy Storage System
The ZincNyx ESS is
a modular Energy Storage System designed to deliver backup power in
the range 5 to 100 kW over extended periods of time. With the
advantage of rechargeable zinc-air fuel cell technology, the system
can be configured to support a wide range of discharge power,
recharge power and duty cycle requirements. Since the energy
storage capacity of the system (kWh) is determined only by the size
of the fuel tank, a very cost-effective solution is available for
long-duration applications such as renewables firming and emergency
backup. An independent Battery Management System enables the system
to be configured for any AC/DC, load/source
environment.
Figure 1. ZincNyx modular Energy Storage
System (ESS
Technology
The ZincNyx ESS is based upon ZincNyx’s unique and patented
zinc-air fuel cell 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, the zinc
particles are regenerated and the oxygen is returned to the
surrounding air.
Applications
The flexibility of the ZincNyx ESS enables it to service a wide
range of applications. Typical examples
include:
- Firming renewable energy sources such as wind,
solar and tidal
- Enabling optimum operation of diesel generator
sets servicing fluctuating loads
- Replacing diesel generators for emergency
backup services
- Providing long duration backup for
telecommunication sites
- Smoothing the load presented by vehicle
charging systems
Architecture
The ZincNyx 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
PGM-5000
Power Generation Module
The ZincNyx
PGM-5000 is a power generation module that combines oxygen from the
atmosphere with zinc particles drawn from a storage tank to
generate electricity. It is composed of 24 bipolar plates connected
in series to produce a nominal 24 Volt output. The unit is
constructed of Noryl plastic and is fitted with SurLok connectors
for quick electrical installation. Optional instrumentation
includes an embedded microprocessor control system and associated
voltage, temperature and pressure sensors.
Figure 2.
PGM-5000 Power Generation Module
Technology
The PGM-5000 is a key component of ZincNyx’s unique and patented
zinc-air energy storage system. In this system, 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 in the Power Generation
Module (PGM).
ZRM-4500
Zinc Regeneration Module
The ZincNyx
ZRM-4500 is a zinc regeneration module that uses electricity to
extract zinc particles from a potassium zincate solution. It is
composed of up to 18 bipolar plates connected in series and driven
from a nominal 60 Volt input. The unit is constructed of Noryl
plastic and magnesium alloy and is fitted with SurLok connectors
for quick electrical installation. Optional instrumentation
includes an embedded microprocessor control system and associated
voltage sensors.
Figure 3.
ZRM-4500 Zinc Regeneration Module
Technology
The ZRM-4500 is a key component of ZincNyx’s unique and patented
zinc-air energy storage system. In this system, energy is stored in
the form of zinc particles, similar in size to grains of sand. When
the system is recharging, the zinc particles are regenerated and
the evolved oxygen is returned to the surrounding air by the Zinc
Regeneration Module (ZRM).
Update on
Spin-Off of ZincNyx
The Company is
also pleased to provide an update on the proposed spin out of
ZincNyx into a publicly traded company (the “Transaction”). An
additional dividend date will be set shortly in which MGX
shareholders of record will receive an additional 7% of payment in
kind of ZincNyx shares, modifying the total amount whereas 60% of
outstanding shares will be owned by MGX and 40% will be paid as a
dividend to MGX shareholders. The Prospectus is expected to be
filed this month and Zincnyx is now planning on going public by way
of Initial Public Offering.
Further to the
Prior Release (see press release dated April 3, 2018), MGX intends
for ZincNyx to become a standalone company following the spin out
by way of a dividend in kind of ZincNyx shares by MGX. The Proposed
Distribution is expected to be made by way of ZincNyx filing a
prospectus (the “Prospectus”) with securities regulatory
authorities in the jurisdictions where MGX is a reporting issuer
(the “Securities Regulators”) in order to qualify the Proposed
Distribution of ZincNyx Shares to MGX Shareholders such that the
ZincNyx shares to be delivered under the Proposed Distribution are
not expected to be subject to any statutory hold periods. The
Proposed Distribution will not occur unless or until a receipt for
the final Prospectus is obtained from the Securities Regulators.
The Company has not yet made any application to list the ZincNyx
Shares for trading on an exchange, no market currently exists for
the ZincNyx Shares, and the Prior Release is qualified in its
entirety by this news release.
The Prospectus
will constitute a public offering of the ZincNyx Shares only in
those jurisdictions where they may be lawfully offered for sale and
therein only by persons permitted to sell such securities. This
news release does not constitute an offer to sell or a solicitation
of an offer to buy any securities in the United States. The ZincNyx
Shares have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the “U.S. Securities
Act”), or any state securities laws and may not be offered or sold
in the United States, unless pursuant to an exemption from such
laws.
For more
information on ZincNyx, please refer to the Prior Release and the
Company’s other news releases, dated December 13, 2017, December
18, 2017, January 9, 2018, January 30, 2018, February 1, 2018,
February 7, 2018 and March 12, 2018, available on the Company’s
profile on SEDAR at www.sedar.com and at
www.mgxminerals.com.
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 cost effective, long duration and reliable
energy storage systems 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 lithium,
magnesium and silicon assets throughout North America. Learn more
at www.mgxminerals.com.
Contact
Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com
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.
Forward-Looking
Statements
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", "potentially" 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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