Full size / Source / iPark campuses are built and owned by National Resources LLC, a real estate company founded in 1988 which has successfully redeveloped over $1 billion of mixed-use projects between New York and Connecticut, specializing in public/private partnerships that seek to revitalize former industrial sites and waterfronts. Today, National Resources is positioning itself at the forefront of designing and building mixed-use “iPark” campuses around the New York metro area, with a focus on film studios, food manufacturing, and other industries. (Source)
U.S. Senate Majority Leader Charles Ellis ("Chuck") Schumer issued a press-release urging Zinc8 Energy Solutions Inc. (CSE: ZAIR) to expand its battery manufacturing operations to Ulster County´s former TechCity site – once the global home to innovation and the birthplace of IBM.
The Town of Ulster and neighboring City of Kingston are located some 90 minutes north of New York City on Interstate 87, the main highway between Manhattan and Montreal, Canada´s second-most populous city.
Senator Schumer´s press-release states
that "the historic $6 billion in federal incentives he passed in the bipartisan Infrastructure Investment and Jobs Act to expand U.S.-based battery technologies can help supercharge Zinc8’s future in New York."
Today, Zinc8 Energy Solutions Inc. announced: "the Senator has connected with the CEO of Zinc8 Energy Solutions, Ron MacDonald, to consider the Town of Ulster as a potential site for a manufacturing facility and cement the state of New York´s leadership as an emerging global battery manufacturing hub. The Infrastructure Investment and Jobs Act, signed into law in 2021, has set aside $6 billion for federal incentives meant to expand capabilities of the U.S.-based battery research and development, bolster domestic battery production, and shore up the American supply chain in an industry often reliant on foreign sources. The carbon reduction policies and programs of the Biden Administration and the State of New York are instrumental for companies such as Zinc8 to bring leading edge clean energy solutions to full commercialization and the well paying sustainable employment in the new Green economy."
Zinc8 CEO Ron MacDonald commented: "Zinc8 is evaluating potential manufacturing sites in the Northeastern US and have been very impressed with the locations and related facilities in New York. Having the support of Senator Schumer for our company and technology will weigh heavily on our decisions on where to locate our first major production facility."
Click above player or here to watch the interview with CEO Ron MacDonald following today´s news.
Senator Schumer´s press-release
SCHUMER, IN PERSONAL CALL WITH CEO, URGES ZINC8 TO MAKE ULSTER’S IPARK87, FORMER TECHCITY CAMPUS, FUTURE HOME OF NEW HUB, BRINGING UP TO 500 CLEAN-ENERGY JOBS TO ULSTER; SENATOR SAYS HISTORIC FEDERAL BATTERY DEVELOPMENT INCENTIVES HE PASSED IN INFRASTRUCTURE LAW WILL SUPERCHARGE COMPANIES TO INVEST IN NY & POWER THE FIGHT AGAINST CLIMATE CHANGE; SCHUMER IS WORKING CLOSELY WITH NATIONAL RESOURCES, THE OWNER OF IPARK87 TO BRING HIGH-QUALITY JOBS AND INVESTMENTS TO THE HUDSON VALLEY
Zinc8 Is Considering Ulster As Site Of Their New Manufacturing Facility; Schumer Says Former IBM TechCity Site, Now Called iPark87, That He Fought Hard To Get Cleaned Up, Is Primed For Investment
After Securing Billions To Implement Federal Battery Manufacturing And R&D Incentives To Boost Companies’ Cutting-Edge Tech In NY, Senator Pushes To Land Zinc8 And Cement NY’s Leadership As Emerging Global Battery Hub
Schumer To Zinc8: Picking Ulster County Will Be A Win-Win-Win: Revitalizing iPark87, Creating Clean-Energy Jobs, And Supercharging Fight Against Climate Change
Following his successful push to have the U.S. Environmental Protection Agency (EPA) cleanup the former TechCity campus in the Town of Ulster, U.S. Senate Majority Leader Charles E. Schumer personally called Ron MacDonald, CEO of Zinc8 a cutting-edge battery and energy-storage technologies company, to urge them to expand their operations in Ulster and bring hundreds of clean-energy jobs to the Hudson Valley.
Schumer made clear that Ulster’s former TechCity campus, now known as iPark 87, has all the right ingredients to become the home to their next major facility, and said that the historic $6 billion in federal incentives he passed in the bipartisan Infrastructure Investment and Jobs Act to expand U.S.-based battery technologies can help supercharge Zinc8’s future in New York.
“Zinc8’s interest in expanding hundreds of new jobs into the Hudson Valley at Ulster County’s former TechCity site, now called iPark87, would be a win-win-win. A once-contaminated asbestos dumping ground can be revitalized and once again be the beating heart of Ulster County’s economy, all while powering a cleaner, brighter future, fighting climate change, and creating hundreds of good-paying jobs,” said Senator Schumer. “I made it clear to Zinc8 CEO, Ron MacDonald, that I stand ready to help their potential expansion in the Hudson Valley in any way, including fighting to secure the historic federal battery research & development incentives I passed in the Bipartisan Infrastructure & Jobs Law. Zinc8’s investment in the Hudson Valley would further power New York’s leadership as a global battery manufacturing hub.”
Schumer explained that Zinc8 specializes in flow battery technology that relies on regenerating zinc particles to store and dispatch energy and has recently sought to expand its efforts towards commercialization. The senator explained that Zinc8 is now potentially looking at New York to scale its production with a multi-million dollar investment that would supercharge efforts to revitalize Ulster County’s former economic hub while putting the Hudson Valley and the broader Upstate New York region on the map as a global leader in clean-energy technology. Schumer said that batteries and energy storage are integral to everyday life, helping to power everything from mobile phones to electric vehicles, but unfortunately, much of the manufacturing of this critical technology has been offshored, leaving the country vulnerable to supply chain disruptions that can raise costs for working families and jeopardize U.S. jobs and national security. Schumer explained that expanding domestic manufacturing of battery technology, like he urged Zinc8 to do in Ulster, is integral to America’s future.
“We thank Senator Schumer for his tireless work in getting the former TechCity campus cleaned up and returned to its status as the economic hub of Ulster County. As we work to attract new businesses to the site, Senator Schumer has been an invaluable resource to us and we are thrilled about the prospect of Zinc8 bringing up to 500 new jobs to the region as a cutting edge company at the forefront of our clean energy future,” said Mike Oates President and CEO of the Hudson Valley Economic Development Corporation.
“From day one, Senator Schumer has been with us at the forefront of revitalizing the former IBM campus, returning it to its rightful place as the beating heart of our reenergized and revamped Ulster County economy,” County Executive Pat Ryan said. “Thanks to our longtime partnership with Senator Schumer and his fierce advocacy in working with us, EPA and National Resources to clean up this campus, iPark87 can now be a home to Zinc8 and other companies. We are excited about the opportunity to bring over 500 clean energy jobs to our area and expect thousands more to come as a result of our work.”
Schumer has a long history fighting to revitalize the former TechCity campus. In July of 2021, Schumer personally visited the asbestos-contaminated TechCity site, calling on the U.S. Environmental Protection Agency (EPA) to fully clean up and restore Ulster County’s former economic engine, once the 30-year home of IBM. Following his visit, Natural Resources bought the property from the former owner. This month, after Schumer’s advocacy, the firm reached an agreement with EPA to remove the asbestos piles, green lighting the site for thousands of new potential jobs and businesses to come to the campus.
Schumer explained that one of these potential businesses is Zinc8, which produces battery technology using zinc and air as fuel. Schumer said that this unique zinc-air energy storage system has the goal of introducing a certified commercial product in 2023 and that this cutting-edge battery technology aligns perfectly with his work to expand battery storage capabilities in the Bipartisan Infrastructure Law. Specifically, the Infrastructure Investment and Jobs Act set aside $6 billion for federal incentives meant to expand capabilities of U.S.-based battery research and development, bolster domestic battery production, and shore up the American supply chain in an industry often reliant on foreign sources. This push also runs concurrent with other efforts Senator Schumer has led across New York to bolster battery manufacturing, including securing Binghamton University’s New Energy NY Proposal’s spot as a finalist in the EDA Regional Challenge for tens of millions in federal investment to create a battery research and manufacturing hub in the Southern Tier and broader Upstate New York region. Schumer, Binghamton University President Harvey Stenger, and Dr. Stan Whittingham, the 2019 winner of the Nobel Prize in chemistry for his work on the development of lithium ion batteries, recently penned a joint op-ed on the importance of bolstering battery technology for America’s future.
In April, Zinc8 was named a "Best-in-Class" solution in the Energy Storage Category for the Real Estate Board of New York´s ("REBNY") 2022 PropTech Challenge.
About Senator Chuck Schumer
«Success requires that academia, industry and government work together. We are united in making that happen.» (Senator Chuck Schumer)
Chuck Schumer serves as Senate Majority Leader since January 20, 2021. The majority leader serves as the chief representative of their party in the Senate, and is considered the most powerful member of the Senate. A member of the Democratic Party, Schumer is the senior United States senator from New York, a seat he has held since 1999. In 2016, Schumer was once again re-elected by the people of New York and at the same time, his colleagues elected him to serve as Chair of the Democratic Caucus of the United States Senate, the first time a New York Senator has held the position.
Senator Schumer has long been leading the charge at the federal level to make electric vehicles affordable, expand electric vehicle infrastructure, and batter manufacturing in the U.S. In October 2019, Schumer unveiled his Clean Cars For America Climate Proposal to help accelerate the transition to net-zero carbon emissions by mid-century by making clean cars and charging infrastructure accessible and affordable to all Americans, all while investing in the domestic manufacturing of electric vehicles and batteries to ensure the U.S. leads the world in this industry.
Former IBM site begins new chapter as iPark 87
Full size / Source: "IBM, Ulster County’s largest employer came – and went" (2021)
As announced in June 2022: "The Ulster County Economic Development Alliance (UCEDA) has approved a landmark purchase and sale agreement to spur redevelopment of the former IBM site. National Resources will now begin extensive $200+ million investment to revitalize the site and position it for substantial growth and local job creation... In the coming weeks and months, National Resources and Ulster County are planning to make transformational announcements about future tenants and site remediation. County Executive Pat Ryan has made the revitalization of the site a key pillar of his administration. The continued progress on the site comes after the site sat vacant for decades."
Ulster County Executive Pat Ryan said: “We’re thrilled to make it official and celebrate the launch of iPark 87. With proven partners like National Resources, I’m confident the future is bright for this site; and I’m committed to ensuring that every single resident of our county benefits as it comes back to life as the center of our County’s new economic future. This deal is a monumental step towards realizing the bold vision we outlined in our Ulster 2040 strategy. In the coming weeks, we will be announcing more exciting details about future plans and tenants…so stay tuned!”
President of National Resources Joseph Cotter said: "National Resources is excited for the transformation of this campus that the residents of Ulster County have long awaited. Once the closing is complete, we expect to move quickly to address remaining environmental issues and to announce near-term tenants that will bring high quality jobs and economic activity back to this important site,"
President and CEO of the Hudson Valley Economic Development Corporation Mike Oates said: "The acquisition of the former IBM campus by National Resources is an astounding accomplishment for Ulster County, which puts this long-dormant site on the map as one of the most significant economic development locations in the State of New York. A special thank you to County Executive Ryan and his team for all of their efforts to make this a reality. I look forward to many exciting announcements to come as tenants line up to be a part of iPark 87.”
"We can become a national hub for battery innovation, manufacturing and workforce development," said M. Stanley Whittingham, Binghamton´s distinguished professor, researcher, and 2019 Nobel Prize winner in chemistry for inventing the lithium-ion battery. "We know that, with initiatives like our BatteryNY and NENY programs and the technology initiatives put forth by Sen. Schumer in his USICA proposal, we can bring back manufacturing to the U.S., we can bring back jobs and we will help make the U.S. a global leader in battery storage technologies as well all types of advanced manufacturing again." (Source)
New Energy NY (NENY)
"Establishing a National Hub for Battery Innovation, Manufacturing, and Workforce Development in Upstate New York"
The NENY project, led by Binghamton University, brings together a robust coalition of diverse partners from academia, non-profit and government.
ENERGY STORAGE INNOVATION: "The project will establish New York State as the premier destination for realizing energy storage technologies and startups from prototyping to scale-up to manufacturing. While leveraging and expanding existing successful programs, it will develop new programs for proof-of-concept support, acceleration of nascent and mature startups, and the development of new incubation models and facilities."
Click above player or here to watch.
"Within NYS, a hub has emerged in Broome County and the surrounding Southern Tier, catalyzed by unparalleled initiatives from NYSERDA, ground-breaking R&D and consortium efforts at Binghamton University led by 2019 Nobel Laureate M. Stanley Whittingham, and the 2017 launch of the NYSERDA Southern Tier Clean Energy Incubator (SCI) by Binghamton University, and coalition members NY-BEST and IncubatorWorks, which has served 45 U.S. and international companies. One notable SCI client, iM3NY is building a Li-ion battery gigafactory in qualified federal Opportunity Zones in Endicott, NY, projected to generate >1000 new direct jobs over the next 5 years. The launch of the gigafactory is also expected to result in regional contracts with various OEMs and companies in the battery supply chains, as well as in the expansion of various supply chain companies to the region. With the support of the EDA, New Energy NY will capitalize on these opportunities and leverage existing resources throughout NYS to build out an internationally competitive energy storage innovation cluster strengthened by the projects outlined below... 5. Storage Acceleration: The project will establish NYS as the premier destination for realizing energy storage technologies and startups from prototyping to scale-up to manufacturing. For early-stage technology development, the project will merge the Binghamton University XCEED technology accelerator with the SUNY Startup Summer School (S4) to provide comprehensive customer discovery and startup training with prototyping and testing components, leading to formation of fundable storage-related startups. More mature startups will be channeled through a later-stage accelerator delivered by The Clean Fight NY to advances them towards manufacturing readiness, helping secure pilot sites, manufacturing and strategic partners, and investors... The final component of the project will address the fact that battery technologies are of national security interest and may be subject to export control regulations that mitigate against foreign influence. We will provide guidance, a certification process, and funding for qualified incubators to develop new or modify existing facilities (partitioning, monitoring, surveillance), and support operations to allow export-controlled R&D." (Source)
Previous Rockstone Coverage
Report #14: “Zinc8 Energy Solutions: Getting de-risked and raised by a global network of capital and know-how“
Report #13: “21.12.20: The Sacred Moment For Zinc8: First Real-World Energy Storage System To Be Delivered To 75.9 House“
Report #12: “Happy Battery Day for Zinc8: Winner of the first-ever Innovation Competition spearheaded by the US Department of Buildings of New York“
Report #11: “Setting The Stage for A Global Launch: Zinc8 signs co-operation agreement with global transformer manufacturing powerhouse Vijai Electricals“
Report #10: “Zinc8 accepted into the ACRE Cleantech Incubator Program at Urban Future Lab“
Report #9: “The Empire State is accelerating renewable energy development as part of its COVID-19 recovery efforts“
Report #8: “Supporting the Clean Energy Industry Through the COVID-19 Response“
Report #7: “Renewable energy stocks could be the first to recover, says JPMorgan“
Report #6: “DEATH OF AN ILL-FATED BULL MARKET AND BIRTH OF A CLEAN ENERGY INFRASTRUCTURE OF RESILIENCE“
Report #5: “First Private Sector Energy Storage Deployment Contract for Zinc8 Energy Solutions: Second Commercial Agreement in New York City“
Report #4: “Visiting the Zinc8 Energy Storage Development and Production Facility: The Dawn of the Utility-Scale Battery Era“
Report #3: “The Largest State-Owned Power Utility in the USA Announces Collaboration with Zinc8 Energy Solutions“
Report #2: “Reborn as Zinc8 Energy Solutions“
Report #1: “Bridging the Renewable Energy Infrastructure Gap“
Zinc8 Energy Solutions Inc.
#1 – 8765 Ash Street
Vancouver, BC, Canada V6P 6T3
Phone: +1 604 558 1406
ISIN: CA98959U1084 / CUSIP: 98959U108
Shares Issued & Outstanding: 152,218,629
Canada Symbol (CSE): ZAIR
Current Price: $0.23 CAD (08/08/2022)
Market Capitalization: $35 Million CAD
Germany Symbol / WKN (Tradegate): 0E9 / A2P15E
Current Price: €0.117 EUR (08/08/2022)
Market Capitalization: €18 Million EUR
Stephan Bogner (Dipl. Kfm.)
8260 Stein am Rhein, Switzerland
Zinc8 News-Disclaimer: Notice Regarding Forward Looking Statements: All statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Zinc8 Storage anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking statements. Forward looking statements in this press release include that we can execute the development and commercialization of a dependable low cost zinc-air battery; that our mass storage system offers both environmental and efficiency benefits; that we can help meet the needs for secure and reliable power, that the support of Senator Schumer will weigh heavily on Zinc8´s decisions relating to location of its first manufacturing facility, and that federal funding ill be available in the United States for U.S. based battery research, development and production.. Zinc8 Energy Solutions believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: that we are not able to raise funds as expected; that our technology fails to work as expected or at all; that our technology proves to be too expensive to implement broadly; that customers do not adapt our products for being too complex, costly, or not fitting with their current products or plans; our competitors may offer better or cheaper solutions for battery storage; general economic, market and business conditions; increased costs and expenses; inability to retain qualified employees; our patents may not provide protection as expected and we may infringe on the patents of others; the completion of our planned private placement or are unable to raise all of the funds we are seeking to raise; that Senator Schumer may not continue to support Zinc8; that Zinc8 may not open a manufacturing facility; that federal funding in the United States may not be available to Zinc8 on favourable terms or at all; and certain other risks detailed from time to time in Zinc8 Energy Solution´s public disclosure documents, copies of which are available on the Company´s SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither the CSE nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Rockstone Disclaimer: This report 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. Rockstone Research, Zinc8 Energy Solutions Inc. and Zimtu Capital Corp. caution investors that any forward-looking information provided herein 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 Zinc8 Energy Solutions Inc.´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through their profiles on SEDAR at www.sedar.com. Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. Zinc8 Energy Solutions Inc. pays Zimtu Capital Corp. to provide this report and other investor awareness services.The author, Stephan Bogner, holds a long position in Zinc8 Energy Solutions Inc. and is being paid by Zimtu Capital Corp. for the preparation and distribution of this report, whereas Zimtu Capital Corp. also holds a long position in Zinc8 Energy Solutions Inc.