On Thursday, the New York State Government made the ceremonial announcement that Zinc8 Energy Solutions Inc. (CSE: ZAIR; WKN: A2P15E; market capitalization: $37 million CAD) is receiving state grants and additional assistance to establish its US manufacturing facility in Ulster County, Upstate New York.
The formal announcement from the New York Governor´s office came on Thursday morning, including a note by Zinc8 CEO & President, Ron MacDonald:
Zinc8 CEO Ron MacDonald gave the following interview on Friday:
On Wednesday, a day before the official announcement, Keith Schaefer, a well-known newsletter writer in the US, published a "teaser" that he plans to publish an article the next day on Thursday. Some of his readers obviously knew immediately that it was about Zinc8. His readworthy follow-up article on Zinc8 can be found here on his website, providing a good overview of Zinc8 and the significance of Thursday´s announcement, copied below:
ZINC8 (ZAIR-CSE / ZAIRF-OTCQB) IS THE ENERGY STORAGE KEY TO RENEWABLE POWER SOURCES
US$9 M Today from New York State
Zinc8 Energy Solutions (ZAIR-CSE / ZAIRF-OTCQB) has the best energy storage solution for 50,000 large New York City building owners who are rushing to comply with the Local Law 97 of the city’s Climate Mobilization Act.
Everybody in New York sees this—that’s why Zinc8 was able to announce that Empire State Development has agreed to provide up to US$9 million in performance- based Excelsior Jobs Program tax credits this morning to help get their solution operational ASAP. NINE MILLION US BUCKS.
This validates their technology, their business—and how much Market and political demand there is for a real energy storage solution! That’s a huge tailwind!
Industry and gov’t are rallying around Zinc8 to make them a success. See that both NY Governor Hochul AND NY Senator Chuck Schumer issued news releases on getting Zinc8 into New York State.
New York’s Climate Act calls for the State to hit 70% renewable electricity by 2030 and 100% zeroemissions electricity by 2040. They want 6 GW of energy storage by 2030. Zinc8 has already been declared best-in-class in two different competitions in NY.
Zinc8’s development curve, the install curve—everything will start to speed up now. And the stock is 24 cents.
Everybody sees the benefit—low cost, almost no heat, years of full charge/discharge and even then only have to replace the low cost electrolyte… and when I say low cost–I mean MUCH lower cost per kilowatt hour. Remember this chart from yesterday?
With those cost savings, OF COURSE the NYC Department of Buildings, the Real Estate Board of New York, New York State Governor Kathy Hochul and NY State Senator–-and Senate Majority Leader–-Chuck Schumer love Zinc8.
Safe. Cheap. Sourced-in-USA. Zinc8’s technology is key—maybe THE KEY–-to renewable energy use for thousands of buildings in New York and across the USA.
And the stock is 24 cents, with millions in the bank before they even get started.
But yesterday, I didn’t tell you how potentially lucrative this could be for Zinc8 in both the near term, and long term.
Again, almost all buildings in New York that are over 25,000 square feet are subject to carbon caps in 2024.
Landlords face BIG penalties for being offside on the carbon cap is going to mean unacceptable financial penalties for these landlords.
Twenty-four US states have targets to reduce their carbon footprint, so this will be a multi-billion dollar market for a couple decades. But in NY state, there is a pressing 2024 deadline. Time is short for New York building owners to find the right solution and install it.
That’s a lot of money that will be getting spent very quickly. That makes the business case for Zinc8 VERY compelling.
This morning, we saw the HUGE funding mechanisms set up to deliver this storage very quickly:
1. There are federal, state and local programs in the billions of dollars
2. There are others in the tens of billions of dollars
3. There are even those in the hundreds of billions of dollars
This US$9 million is just ONE of several potential funding sources. This funding is both up-front, and in after-the-fact tax credits. Senate Majority Leader Schumer–who put out his own press release on Zinc8 this year–is very public that he is having his office help Zinc8 get the best possible benefit from these programs. TODAY WAS A GREAT START.
I hope you see where this is going–and fast. There is a problem with a deadline. Zinc8 has the solution, and now has vocal friends in high places.
The kicker here is—if you are a qualified producer of energy storage, you automatically qualify for funding. Some of this US$60 billion in funding is available up-front, some in back end tax credits (which can be SOLD! for hard cash).
Have I mentioned this is a 24 cent stock this week? And Zinc8 already has millions in the bank, before any of these non-dilutive funding programs kick in?
And folks, this money is in addition to what they sell their energy storage unit for; this is above and beyond their regular business.
“We´re extremely lucky to be in this place at this time,” Zinc8 CEO Ron MacDonald told me in an interview.
Now look, MacDonald and his team have to execute on this plan still. But it has all been laid out for them by NY State and their 2024 mandate, and with these non-dilutive capital sources. MacDonald is a former federal politician in Canada, so he speaks Hochul and Schumer’s language.
ZINC IS POSSIBLY THE HOLY GRAIL OF ENERGY STORAGE
Zinc-air energy storage is so simple – zinc and oxygen – but it took years of research by the Zinc8 team to make it ready for industry to install it in a large way.
Here is how it works:
1-Power from the grid or renewable source generates zinc particles in their proprietary machine called a Zinc Regenerator. Oxygen is the only by-product.
2-The zinc particles flow to the Storage Tank and are kept in a potassium hydroxide (KOH) electrolyte until required.
3- When power is needed, zinc particles are sent to the Power Stack, mixed again with oxygen to generate electricity. The zinc oxide (ZnO) by-product is returned to the storage tank for later regeneration.
Cheap, long-lasting (forever!) and safe (almost no heat!). After millions of charges and discharges, there is NO loss of charging capacity in the Zinc8 energy storage battery; ZERO LOSS.
And the primary ingredients of zinc-air batteries are plentiful–which keeps costs low. Lithium prices have soared–zinc, not so much. Air remains free. When it comes to input costs, free is good.
Zinc-air batteries are also safer because they are not flammable (have you seen those lithium batteries on fire in Tesla’s?), and are non-toxic.
But what clinches the deal here is that for long duration energy there is no comparison on a cost basis. No comparison.
CONCLUSION: New York Is The Catalyst But The Future Is EVERYWHERE
The near-term revenue opportunity in front of Zinc8 is obvious. That will be the rush from tens of thousands of buildings that stand to benefit from utilizing Zinc8’s energy storage to comply with Local Law 97 carbon caps.
For the building owners Zinc8’s energy storage doesn’t just help them comply with carbon cap regulations. It also helps them save money.
By allowing the building owners to tap into energy supply away from peak hours and store it (rather than consume it live during peak times) Zinc8’s management believes that building owners energy cost can drop to 10 cents per kilowatt hour versus 30 or 40 cents during peak times.
Suddenly the only storage solution also looks like it can pay for itself.
There is a ‘catch’ of course. Zinc8 has to manufacture their energy storage machines in the USA to be able to sell there (current manufacturing is in Canada). But I have laid out all the non-dilutive capital that will position Zinc8–in just a few months–to begin selling in the US.
Everybody wants this. Zinc8’s technology provides the longer duration energy storage that the world desperately needs to make The Big Jump to renewable energy.
Even better is–the longer the energy storage is needed, the cheaper the energy price Zinc8 can deliver.
Zinc8’s technology fixes that multi-trillion-dollar hole. And the full scale of opportunity in front of this $40 million company is basically…limitless.
The economics are now as compelling as the need for Zinc8 technology. Everything is ready to roll out. Industry recognition is in place. Political support is in place. Zinc8 already has millions in the bank.
The stock is only 24 cents. The timing could not be better. I’m excited, and I’m long.
Zinc8 Energy Solutions has reviewed and sponsored this article. The information in this newsletter does not constitute an offer to sell or a solicitation of an offer to buy any securities of a corporation or entity, including U.S. Traded Securities or U.S. Quoted Securities, in the United States or to U.S. Persons. Securities may not be offered or sold in the United States except in compliance with the registration requirements of the Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom. Any public offering of securities in the United States may only be made by means of a prospectus containing detailed information about the corporation or entity and its management as well as financial statements. No securities regulatory authority in the United States has either approved or disapproved of the contents of any newsletter. Keith Schaefer is not registered with the United States Securities and Exchange Commission (the “SEC”): as a “broker-dealer” under the Exchange Act, as an “investment adviser” under the Investment Advisers Act of 1940, or in any other capacity. He is also not registered with any state securities commission or authority as a broker-dealer or investment advisor or in any other capacity. (Source)
Excerpts from Zinc8´s press-release:
The State Of New York Offers Zinc8 Energy Solutions $9 Million In Inducements To Manufacture In The State
VANCOUVER, BC, Jan. 26, 2023 / Zinc8 Energy Solutions Inc. ("Zinc8" or the "Company") (CSE: ZAIR) (OTC: ZAIRF) (FSE: 0E9) is pleased to announce the approval for a grant from the Empire State Development ("ESD") of up to US$9 million in performance-based Excelsior Jobs Program ("EJP") tax credits to incentivize the Company to locate and establish its first US-based production facility in New York State. The tax credits are available immediately for a period of up to 5 years, in whole or part, depending on the level of investment and jobs created.
Once the final site selection has been determined, Zinc8 intends to make a significant investment over a five-year span to automate and build out the site, making this Zinc8´s U.S. headquarters and initial production facility. Further to the build out, Zinc8 plans to create up to 500 clean jobs over this period for the local economy with support of the EJP tax credits.
The Excelsior Jobs Program provides job creation and investment incentives to firms in targeted industries such as biotechnology, pharmaceutical, high-tech, clean-technology, green technology, financial services, agriculture and manufacturing. Firms in these industries that create and maintain new jobs or make significant financial investment are eligible to apply for up to five tax credits. The Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. Program costs are capped annually to maintain fiscal affordability and ensure that New Yorkers realize a positive return on their investment.
"We´re excited by the level of support and interest we´ve received towards locating a manufacturing facility and creating jobs in the state of New York," said Ron MacDonald, CEO and President of Zinc8 Energy Solutions. "The EJP tax incentives offered to companies looking to create jobs and help build a green economy is an additional layer of funding that can be utilized concurrently with other financing, including state, municipal and federal funding packages which help companies like Zinc8 access additional sources of capital and expand their business plans. These incentives have made it logical for us to select New York State for our first manufacturing facility and based on the encouragement from government leaders such as New York Governor Kathy Hochul, we have decided to focus our efforts to create jobs in the state and help its transition towards a greener economy."
Zinc8 CEO, Ron MacDonald had previously announced in September 2022 that the company would be setting up its first manufacturing operations in the USA, a direct result of the Federal Government´s passage of the Inflation Reduction Act which provides generous refundable tax credits for Zinc8´s future US production of its Zinc-air energy storage systems.
"Governor Hochul has taken a leadership role when it comes to climate change and advanced the United States most progressive policies in an effort to combat climate change and provide for a greener economy for the State of New York," added MacDonald. Having recently outlined the framework for the State of New York to achieve a nation-leading 6 gigawatts of energy storage by 2030, we commend her efforts in combating climate change. We look forward to playing our part in providing cleaner and sustainable jobs for the State of New York."
Zinc8 has assembled an experienced team to execute the development and commercialization of a dependable low-cost zinc-air battery. This mass storage system offers both environmental and efficiency benefits. Zinc8 strives to meet the growing need for secure and reliable power. To learn more about Zinc8´s technology, please visit: https://zinc8energy.com
New York State´s press-release:
Governor Hochul Announces Zinc8 Energy Solutions, a Long-Term Energy Storage Leader, Will Locate its First Commercial Manufacturing Facility and American Headquarters in Ulster County
Full size / Source
Company Will Create 500 Jobs Through a 5-year $68 Million Investment Plan in the Mid-Hudson Region and Build Environmentally and Economically Friendly Zinc-air Long Duration Energy Storage Systems
Anchor Tenant in the New $100 Million iPark 87 Business Park Will Transform the Three-Decades-Vacant IBM Site into an Economic Growth Engine
Expansion in New York Complements Governor Hochul´s Bold Environmental Agenda for Reducing Greenhouse Gas Emissions and Combating Climate Change
Governor Kathy Hochul today announced Zinc8 Energy Solutions, USA, a leader in the long-duration energy storage industry, will relocate its $68 million manufacturing facility and U.S. headquarters to Kingston, Ulster County at the former Tech City, IBM Ulster campus, now known as iPark 87 business park. Zinc8 Energy Solutions develops innovative battery technology that uses zinc and air as fuel. Zinc8 has committed to creating up to 500 jobs, complementing New York State´s national leadership in growing the green economy, spearheading efforts to reduce greenhouse gas emissions, and prioritization of combating climate change. The company´s location to Ulster County supports Governor Hochul´s newly announced framework for the State to achieve a nation-leading six gigawatts of energy storage by 2030.
"Creating good jobs that will lead to a greener, more sustainable New York for our children and grandchildren is not only beneficial to our economy, it´s the right thing to do for our planet," Governor Hochul said. "Zinc8´s cutting edge, clean energy storage technology is another tool that will allow us to achieve our bold climate agenda and continue to make New York State a leader in advancing the green economy."
Zinc8 Energy Solutions (Zinc8) has submitted a Letter of Intent to be the anchor tenant and lease approximately 237,000 square feet of warehouse and outdoor space at iPark 87, which is owned by National Resources. Zinc8 will invest approximately $68 million over 5 years to automate and build out the site, making the region Zinc8´s U.S. headquarters and a major hub of manufacturing operations, research and development. Empire State Development (ESD) has agreed to provide up to $9 million in performance-based Excelsior Jobs Program tax credits to encourage and support the creation of 500 jobs.
The new $100 million iPark 87 business park will serve as a mixed-use technology campus, transforming the former IBM site and positioning the former TechCity as an innovative center for economic growth after 30 years of stagnation. Part of iPark87´s plan is to build a 600-unit net-zero carbon footprint sustainable residential community, powered 100 percent by renewal energy and constructed fully from sustainable building materials. The business park will also include several public amenities like pocket parks, bike and walking trails, and a wellness and arts center. Recognizing the goals of job creation, economic growth and sustainability for the campus and the surrounding region, ESD supported the business park´s development with an $8 million grant through the Upstate Revitalization Initiative.
Zinc8 is a leading technology developer and manufacturer of zinc-air long-duration energy storage systems for utilities, commercial and industrial facilities, and remote microgrids. The company aims to accelerate the world´s transition to sustainable, secure, and resilient energy sources through environmentally and economically friendly mass storage systems to make clean energy storage cost-effective, reliable, and readily available.
Empire State Development President, CEO and Commissioner Hope Knight said, "Zinc8 is fully committed to transitioning the world to more sustainable, secure and resilient energy sources and we are thrilled that New York State will play an integral role in this process. ESD is committed to expanding the State´s green economy and creating good jobs for all New Yorkers and Zinc8´s move to the Mid-Hudson Region is another positive step in the right direction."
New York Power Authority Acting President Justin E. Driscoll said, "NYPA recognized Zinc8´s potential in 2019 when they submitted their novel energy storage technology prototype to our New York clean energy innovation challenge. Since then, Zinc8 has expanded its partnership with New York State and is now positioning its U.S. headquarters here. Zinc8´s growth in Ulster County will create up to 500 jobs, further advancing New York´s position as a nation leader in boosting a clean energy economy."
Doreen M. Harris, President and CEO of the New York State Energy Research and Development Authority said, "By bringing long-duration energy storage manufacturing to the state´s growing green economy, Zinc8 is advancing the next frontier of battery technology that will help New Yorkers access renewable energy when they need it most. This new facility will not only advance Zinc8´s product market development—it will also create local good-paying jobs, grow our innovation supply chain, and serve as another tool to fight the impacts of climate change."
New York State Department of Public Service CEO Rory M. Christian said, "Governor Hochul has been a staunch supporter of energy storage development in New York State, and as a direct result of that support is what leads Zinc8 to decide to locate its headquarters in New York. Strategic decisions such as this is what will help speed our transition to a clean energy economy and meet our critically important climate goals."
"State of New York, Executive Chamber: Endorsement of an Incentive Proposal between the State of New York and Zinc8 Energy Solutions USA, Inc. Now, therefore, I, Kathy Hochul, Governor of the State of New York, along with Chief Executive Officer Ron MacDonald of Zinc8 Energy Solutions USA, Inc., having read the Incentive Proposal between the State of New York, Zinc8 Energy Solutions USA, Inc. endorse the principles set forth. In addition, this proposal identifies how New York State and Empire State Development are prepared to assist Zinc8 Energy Solutions USA, Inc. in the development of its projects in New York State..."
Zinc8´s technology has been developed around the utilization of zinc as the anode fuel, which is expected to offer advantages over other metals due to its high energy density, abundant availability, low cost, and ease of storage and handling. When the system is delivering power, the zinc particles are combined 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 regenerative system does not require fuel replacement and offers scalable energy capacity through the simple introduction of additional fuel tanks.
Zinc8 first connected with New York State through the New York Power Authority´s Clean Energy Innovation Challenge in 2019 which sought new technologies and business models to solve for the state´s energy challenges. Zinc8 won the challenge and embarked upon deployment of the first use of its novel zinc-air energy storage system, the first phase of which will go live this year. As the winner of the Challenge, Zinc8 entered into an agreement with New York Power Authority (NYPA) to install a 100- kilowatt/1 megawatt-hour (kW/MWh) system at SUNY flagship the University at Buffalo, to increase campus resiliency and advance energy storage technology.
Additionally, Zinc8 announced a deployment agreement with Digital Energy Corp., a private sector engineering firm in New York State for a 100-kW/1.5-MWh energy storage system. The project will demonstrate the benefits and economic value of Zinc8´s Energy Storage System in an existing behind-the-meter Combined Heat and Power (CHP) plant in New York City. The Project was awarded financial support from the New York State Energy Research and Development Authority (NYSERDA).
Zinc8 was also named a "Best-in-Class" solution in the Energy Storage Category of the 2022 PropTech Challenge, which focused on sustainable developments and ongoing efforts by the real estate industry to reduce emissions throughout the build environment.
Senate Majority Leader Charles Schumer said, "When it came to the asbestos-ridden former Tech City site, we knew: if we clean it up, they will come. And Zinc8´s 500 good-paying jobs and $68 million in cutting-edge manufacturing investment is proof positive that when you invest in fighting climate change, you can create good-paying jobs, new economic growth, and a brighter future for our communities," said Senator Schumer. "I applaud Zinc8 for their commitment to Ulster County and Governor Hochul for her support for the project and look forward to continuing to work hand-in-hand to power New York´s leadership as a global battery manufacturing hub."
Representative Pat Ryan said, "This is a huge win not just for Ulster County and the Hudson Valley, but for the entire state of New York. I´ve proudly fought to turn around iPark 87 since my first day as County Executive and led the charge with National Resources, the EPA, Governor Hochul and Senator Schumer to revitalize this important site. Zinc8´s manufacturing facility will bring hundreds of good-paying, green jobs to the region, and sends a statement that the Hudson Valley will be at the forefront of economic development in New York State for decades to come."
Ulster County Executive Jen Metzger said, "When I served in the State Senate and worked to pass New York´s nation-leading Climate Act, I spoke often of the significant economic benefits to our communities that this law promised. With companies like Zinc8 coming to Ulster we are now seeing the fruits of this law materialize: the creation of family-sustaining jobs in cutting edge industries that build a ladder into the middle class. I want to thank Governor Hochul for her forward-looking leadership in supporting the right kind of investment in Ulster County, and look forward to working with her administration on workforce development initiatives to complement this investment and provide the trained workforce we need for the green economy."
Ron MacDonald, President, CEO, and Director of Zinc8 Energy Solutions, said, "The historic measures taken by New York State to reach ambitious carbon neutrality goals are driving clean energy innovation and Zinc8 is committed to being an integral part of New York´s green economy. We applaud Governor Hochul´s clear directive to put legislation and state resources towards resolving the climate crisis, while building investment opportunities and sustainable jobs for New Yorkers."
Joseph Cotter, Co-Founder of National Resources, said, "i.Park 87 and the Think District represent an opportunity to totally transform this former IBM campus into a vibrant new community that is focused on innovation, sustainability and future living for Ulster County. Given the challenges that this property possesses, iPark would not be here without the strong support of Empire State Development and the Governor."
Zinc8´s move to the Mid-Hudson Region complements Governor Hochul´s 2023 clean energy agenda. Under Governor Hochul´s leadership, New York has advanced the nation´s most aggressive policies to combat climate change, safeguard clean water and our natural environment, promote environmental justice, and advance the green economy.
In her 2023 State of the State Governor Hochul is proposing critical initiatives that will make a difference in the lives of all New Yorkers. The Cap-and-Invest Program, which was unveiled last week, will create an economywide Cap-and-Invest Program that establishes a declining cap on greenhouse gas emissions, invests in programs that drive emissions reductions in an equitable manner prioritizing disadvantaged communities, limits costs to economically vulnerable households, and maintains the competitiveness of New York industries. In addition, Governor Hochul will propose legislation to create a universal Climate Action Rebate that is expected to drive more than $1 billion in future cap-and-invest proceeds to New Yorkers every year.
Additionally, Governor Hochul outlined a new framework for the State to achieve a nation-leading six gigawatts of energy storage by 2030, which represents at least 20 percent of the peak electricity load of New York State. The roadmap, submitted by the New York State Energy Research and Development Authority and the New York State Department of Public Service to the Public Service Commission for consideration, proposes a comprehensive set of recommendations to expand New York´s energy storage programs to cost-effectively unlock the rapid growth of renewable energy across the state and bolster grid reliability and customer resilience. If approved, the roadmap will support a buildout of storage deployments estimated to reduce projected future statewide electric system costs by nearly $2 billion, in addition to further benefits in the form of improved public health because of reduced exposure to harmful fossil fuel pollutants. Today´s announcement supports the Climate Leadership and Community Protection Act goals to generate 70 percent of the state´s electricity from renewable sources by 2030 and 100 percent zero-emission electricity by 2040.
In addition to New York´s own green investments, the federal Inflation Reduction Act (IRA) provides tremendous opportunities to leverage state and private investments that have already been committed across the state. The IRA will reduce costs to New York to help meet the requirements of the Climate Act by approximately $70 billion through 2050 and is expected to provide unprecedented funding to reduce consumer energy costs, slash carbon emissions and pollution, ensure energy security and resilience, increase energy innovation and domestic manufacturing, and advance environmental justice.
New York State´s nation-leading climate agenda is the most aggressive climate and clean energy initiative in the nation, calling for an orderly and just transition to clean energy that creates jobs and continues fostering a green economy as New York State recovers from the COVID-19 pandemic. Enshrined into law through the Climate Leadership and Community Protection Act (Climate Act), New York is on a path to achieve its mandated goal to reach economy-wide carbon neutrality, including a zero-emission electricity sector by 2040 with 70 percent renewable energy generation by 2030. It builds on New York´s unprecedented investments to ramp-up clean energy, including more than $21 billion in 91 large-scale renewable projects across the state, $6.8 billion to reduce buildings emissions, $1.8 billion to scale up solar, more than $1 billion for clean transportation initiatives, and more than $1.2 billion in NY Green Bank commitments.
With the implementation of the Climate Act, a clean energy workforce will be in demand. Results from a 2021 Jobs Study issued by the New York State Climate Action Council´s Just Transition Working Group, show that in the 21 growing sub-sectors total employment will increase by more than 60 percent from 2019 to 2030 - adding at least 211,000 new jobs in New York State. Additionally, clean energy jobs in New York State reached a record level of 165,000 workers at the end of 2021, helping to lead New York´s COVID-19 economic recovery by recouping the clean energy jobs lost in 2020 and exceeding pre-COVID-19 clean energy employment levels by 1,300 jobs. (Source)
Kathleen Hochul is an American politician serving as the 57th governor of New York since August 24, 2021. A member of the Democratic Party, she is New York´s first female governor, as well as the first governor from Upstate New York since Nathan L. Miller became New York´s governor in 1920. After serving on the Hamburg town board and as deputy Erie County clerk, Hochul was appointed Erie County clerk in 2007. She was elected to a full term as Erie County clerk in 2007 and reelected in 2010. In May 2011, Hochul won a four-candidate special election for New York´s 26th congressional district to fill the vacancy created by the resignation of then-Representative Chris Lee, becoming the first Democrat to represent the district in 40 years. She served as a U.S. representative from 2011 to 2013. Hochul was defeated for reelection in 2012 by Chris Collins after the district´s boundaries and demographics were changed in the decennial reapportionment process. Hochul later worked as a government relations executive for the Buffalo-based M&T Bank. In the 2014 New York gubernatorial election, Andrew Cuomo selected Hochul as his running mate; after they won the election, Hochul was inaugurated as lieutenant governor. Cuomo and Hochul were reelected in 2018. Hochul took office as governor of New York on August 24, 2021. She won a full term in the 2022 election against Republican U.S. Representative Lee Zeldin in the narrowest New York gubernatorial election in decades. (Source)
Previous Rockstone Coverage
Report #15: “SUPERCHARGING UPSTATE NEW YORK TO A BATTERY MANUFACTURING HUB: Senator Chuck Schumer supports Zinc8 expansion plans“
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: 178,074,985
Canada Symbol (CSE): ZAIR
Current Price: $0.205 CAD (01/27/2023)
Market Capitalization: $37 Million CAD
Germany Symbol / WKN (Tradegate): 0E9 / A2P15E
Current Price: €0.149 EUR (01/27/2023)
Market Capitalization: €27 Million EUR
Zinc8 News-Disclaimer: Notice Regarding Forward Looking Statements: This news release contains certain statements or disclosures relating to Zinc8 Energy Solutions that are based on the expectations of its management as well as assumptions made by and information currently available to Zinc8 Energy Solutions which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such 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 Zinc8 will locate its first production facility in New York State, that Zinc8 plans to make a significant investment to build out its manufacturing facility over the next 5 years, that Zinc8 plans to create up to 500 jobs over the next 5 years in New York, that the Company will utilize EJP tax credits to help fund job creation, that Zinc8´s involvement with energy storage projects will be as described in this news release; that we can execute the development and commercialization of a dependable low cost zinc-air battery; that the Company will be in a position to open a manufacturing facility and commence commercialization of its Zinc Air Batteries as described herein the proposed benefits of the funding and the proposed use of the funding and the risk that the benefits may not prove to be as stated in the news release and that the funds may be used for other purposes; that our mass storage system offers both environmental and efficiency benefits; and that we can help meet the needs for secure and reliable power. 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 Zinc8 may not secure a site for its manufacturing facility in New York, that the EJP tax credits will not be available to the Company if it does not secure a manufacturing facility in New York, that the Company may not be able to open a manufacturing facility on the timeline herein or at all; that the Company may not be able to secure the financing necessary to fund its business plan, including meeting its ongoing working capital requirements and building out a manufacturing facility; that the Company may not be able to create as many jobs as it has planned; that the ESJ tax credits may not provide the expected benefits or funding; that our technology fails to work as expected or at all; that we are not able to commercialize our technology in a timely manner; 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; 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. currently does not pay the author or Zimtu Capital Corp. to provide this report and other investor awareness services. However, 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. Note that Zinc8 Energy Solutions Inc. has one or more common directors with Zimtu Capital Corp.