Partnership with Digital Energy Corp. to maximize financial performance from energy infrastructure assets
New York City is the most densely populated city in the US with enormous energy needs, so any success with a ZincNyx mass energy storage demonstration plant there will pave the way for nationwide deployment. (Picture: Anton Sterkhov)
Today, MGX Minerals Inc. announced a partnership agreement between its 100% owned subsidiary ZincNyx Energy Solutions Inc. and New York based systems integrator Digital Energy Corp. According to the agreement, Digital Energy will install the ZincNyx battery system at a demonstration site in New York City and upon successful completion of the first project, ZincNyx and Digital Energywill develop additional installation sites and work to expand distribution of the ZincNyx technology in the US, as President and CEO of ZincNyx, Suresh Singh, explained:
“We are delighted with this partnership with Digital Energy. Digital’s years of experience with system integration and energy generation will greatly enhance our ability to deploy energy storage solutions throughout the United States.”
The first project in New York City will demonstrate ZincNyx’s patented zinc-air flow-battery technology in combination with an onsite co-generation plant to reduce cost and increase revenue through multiple value streams, including peak shaving, demand response and economic dispatch. The ZincNyx flow battery chosen for this project employs a unique zinc-air chemistry that is safe for use in densely populated areas. The project will identify the operational and regulatory requirements to be satisfied for deployment in the state of New York.
Digital’s choice, amongst many high capacity batteries, is the zinc-air system that has long been recognized as highly advantageous due to its inherent safety, high energy density and abundance of its raw materials. The other unique advantages of the ZincNyx system, such as the ability to simultaneously charge and discharge, flexibility to optimize power and energy needs, low cost of energy for long durations and modularity, further simplified the decision. Vice President of Digital Energy, Jon Lilian, commented:
“Digital is excited to partner with ZincNyx to bring lower cost energy storage solutions to New York State. We believe the ZincNyx flow battery product, along with revenue streams from the New York State REV initiative and the NYISO, will provide a high value proposition for this and future projects.”
About Digital Energy
Digital Energy is a project development and energy consulting firm. Digital focuses on maximizing financial performance, by working with DER (Distributed Energy Resources) owners, to efficiently operate their energy assets. Digital believes that combining other DER technologies with the ZincNyx flow battery solution will provide a mechanism for DER owners to derive additional value. Digital’s participation in FERC, NYISO, and PSC proceeding has led to beneficial regulatory changes for DER owners. Digital is currently participating in several regulatory proceedings that will provide additional value streams to the owners of these types of energy assets. Digital is uniquely positioned to assist owners in monetizing the full value of their facilities. To learn more about Digital Energy visit www.digitalenergyny.com.
About ZincNyx Energy Solutions
ZincNyx Energy Solutions, a wholly owned subsidiary of MGX, has assembled an experienced team to execute the development and commercialization of a dependable renewable energy source. With both environmental and efficiency factors in mind, ZincNyx strives to meet the growing need for secure and reliable power. MGX intends to publicly list ZincNyx and pay a partial share dividend to MGX shareholders of record (see press release dated April 3, 2018). The record date is expected to be announced shortly. On Monday (April 16), MGX announced "Expanded Capacity of Next Generation Zinc-Air Fuel Cell Battery":
"ZincNyx Energy Solutions Inc. has developed new methods to expand the capacity of its zinc-air fuel cell battery as part of the mass production design phase.
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 basic system consists of a Regenerator unit, a Main Tank and a Fuel Cell. When the system is recharging, electrical power is used in the Regenerator unit to produce fine particles of zinc within a bearer electrolyte. As the system continues to be charged, the zinc particles are collected in the Main Tank, surrounded by the common electrolyte and oxygen is released to the air.
When the system is generating power, the zinc particles are delivered from the Main Tank to the Fuel Cell in the bearer electrolyte. The zinc particles are combined with oxygen drawn from the air and electrical power is delivered to the load.
To watch a short video outlining this operation, please visit:
Although the Main Tank of the basic system may be made of any suitable size, there are practical limitations to the physical size and electrical capacity of the Regenerator and Fuel Cell units. ZincNyx has overcome this restriction by developing an expanded capacity system wherein multiple Regenerator units and multiple Fuel Cells can be assembled into a single system to deliver a wide variety of configurations and capacities that can be optimised for individual applications.
Whereas the Fuel Cells may be fed from the same electrolyte source, the Regenerator units must be free to exhaust oxygen at atmospheric pressure. In the basic system, this requirement places a restriction on the vertical placement of these units since any difference in height could lead to electrolyte overflow from one unit to another. In the expanded system, ZincNyx has solved this problem by providing a separate Sump Tank and individual electrolyte flows for each Regenerator unit. The design provides additional benefits in simplifying the piping arrangement while enabling the Regenerator units to be closely stacked above each other.
An application for a patent on the invention has been filed through the Patent Cooperation Treaty (PCT) process and has been published as WO2018/018145.
The key technical features of the invention include:
-- A system and method for storing electrical energy, in particular for regenerative fuel cells.
-- An energy storage system comprising a particle regeneration subsystem for regenerating metallic particulate fuel, a fuel storage subsystem and a power generation subsystem for producing electrical energy from the metallic particulate fuel.
-- The provision of one or more intermediate tanks to assist in the release of oxygen to the atmosphere and/or the settling of the metallic particulate fuel from the bearer electrolyte.
-- The independent flow of electrolyte and/or fuel between the various subsystems"
Rockstone Reports covering ZincNyx
Shares Issued & Outstanding: 102,718,156
Canadian Symbol (CSE): XMG
Current Price: $0.84 CAD (04/17/2018)
Market Capitalization: $86 Million CAD
German Symbol / WKN (Frankfurt): 1MG / A12E3P
Current Price: €0.501 EUR (04/17/2018)
Market Capitalization: €52 Million EUR
Report #54 “MGX in Final Stages of Commercial Deployment, Second Petrolithium Contract Already in the Making“
Report #53 “MGX-Highbury Accomplish Almost Complete Gasification of Petcoke, Produce High-Grade Vanadium Concentrate“
Report #52 “MGX Set to Alter Lithium Landscape, Partners with Investment Bank Heavyweight Capstone Headwaters“
Report #51 “Congratulations! MGX Nominated in 2 Categories as a Finalist for the S&P Global Platts Metals Awards“
Report #50 “MGX Gets Serious About Magnesium, Engages Hatch for Magnesium Metal Scoping Study“
Report #49 “MGX to Acquire and Commercialize Clean Technology for Extraction of Lithium and Aluminum from Spodumene“
Report #48 “MGX Minerals Issues PEA for a World-Class Magnesium Project in British Columbia“
Report #47 “High-Grade Battery Metals From Dirty Petcoke“
Report #46 “Big Times Ahead For Several Joint Ventures from MGX Minerals“
Report #45 “MGX Partner Broadcasting on US Television“
Report #44 “The Big Rethinking Begins: Multiple Lithium Projects in Chile Test the Rapid Lithium Extraction Technology from MGX“
Report #43 “Global Lithium Dominance? MGX Doubles Performance of Lithium Extraction Filters“
Report #42 “Scores of Tail Winds for MGX becoming a Leader in the New Energy Economy“
Report #41 “MGX Goes Big, Develops Utility-Scale Battery Storage System“
Report #40 “Positioned to Profit from Transition to New Energy Economy“
Report #39 “MGX Assembles Dream Team For California Lithium Strategy“
Report #38 “MGX: The Next GreenTech Energy Giant“
Report #37 “MGX Partners with Highbury Energy to make Petroleum Coke more Clean“
Report #36 “Technological Breakthrough in the Mass Energy Storage Industry“
Report #35 “Eureka! MGX Starts Developing Silica Projects after Acquisition of Mass Storage Battery Technology“
Report #34 “MGX Going Big on Petrolithium: The first large-scale integrated petroleum and lithium project ever developed“
Report #33 “Driving into the Realms of Tesla & Co: MGX Acquires Mass Storage Battery Technology from Teck Resources“
Report #32 “Backed by Private and Institutional Heavyweights: MGX cashes up for Lithium Extraction and Exploration“
Report #31 “MGX Revolutionizes the Lithium World - Commissions First Rapid Lithium Extraction System“
Report #30 “Full Steam Ahead: MGX Engages Senator Polanco (Ret.) to Head California Lithium Brine Strategy“
Report #29 “MGX to Target Geothermal Market for Extraction of Lithium and Gold“
Report #28 “MGX Minerals Commences Development of the World‘s First Petrolithium Field“
Report #27 “Canadian Government Backs MGX Minerals‘ Petrolithium Cleantech“
Report #26 “MGX Minerals Solves the Magnesium Problem of the Lithium Industry“
Report #25 “Hard-Rock Lithium Exposure for MGX“
Report #24 “One of the Largest Initial Oil Estimates in US History“
Report #23 “MGX starts Petrolithium pilot plant to deliver hard facts for strategic partners“
Report #22 “Time to bet: Sprott takes a position in MGX“
Report #21 “Petrolithium: First Come First Served“
Report #20 “Successful Independent Verification of the MGX Lithium Extraction Technology“
Report #19 “MGX to Drill the World‘s First PetroLithium Well in Utah“
Report #18 “MGX Reports Upgrading of Lithium Brine from 67 to 1600 ppm Lithium“
Report #17 “MGX technology nominated for prestigious Katerva Award, the Nobel Prize of Sustainability“
Report #16 “Unconventional oil play legend Marc Bruner to take MGX and PetroLithium to the next level“
Report #15 “Total Conviction: MGX forms PetroLithium Corp. to expand into the US oilfield brine markets“
Report #14: “MGX Extracts Lithium from Oil Wastewater - Begins Monumental Integration with Big Oil“
Report #13 "MGX Partners with Oil Major on Lithium Brine, New Energy Industry Facing Fundamental Shift“
Report #12 "Game Changing Potential: MGX Minerals‘ Pilot Plant for Rapid Production of Lithium Nears Completion“
Report #11 "MGX assays 34 g/t gold from surface sampling in British Columbia“
Report #10 “Official: MGX owns magnesium worth multi-billions of dollars and starts pilot plant shortly“
Report #9 “One of the world‘s largest lithium resources on the horizon?“
Report #8 “Ready for significant lithium brine work in Alberta“
Report #7 “At the forefront of Alberta‘s lithium brine riches“
Report #6 “Pioneering Lithium in Alberta: MGX Minerals Teams Up“
Report #5 “Time to Put a Lithium Production Process in Place“
Report #4 “MGX Minerals Taps Into Canada‘s Potentially Largest High-Grade Lithium Resources“
Report #3 “MGX Minerals Receives Mining Lease for 20 years (in British Columbia!)“
Report #2 “MGX Minerals Accelerates Towards Production“
Report #1 “MGX Minerals Plans To Enter The Magnesium Market“
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 and MGX Minerals Inc. cautions 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 MGX´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the MGX´s profile 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. The author, Stephan Bogner, holds a long position in MGX Minerals Inc. and is being paid a monthly retainer from Zimtu Capital Corp., which company also holds a long position in MGX Minerals Inc. Note that neither MGX Minerals Inc. nor Zimtu Capital Corp. have reviewed all of the content prior to publication and may not agree with statememts made herein.
Disclosure: I am/we are long MGXMF.