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Zinc8 Energy Solutions Announces Appointment of Robert Parker as a Director and Milestone Payment for Zinc-Air Storage System in New York
Tuesday, June 27, 2023Company Profile | Follow Company
Vancouver, BC, June 27, 2023--(T-Net)--Zinc8 Energy Solutions Inc. (CSE: ZAIR) announced that Robert F. Parker has joined the Company's Board of Directors.
Mr. Parker has worked in ClimateTech, Renewable Energy, and Sustainability for 18 years as an entrepreneur, executive, consultant, policy advisor, project developer, and venture and angel investor.
Ron Macdonald, President, CEO & Director, Zinc8 Energy Solutions
"Mr. Parker brings a unique range of skills to the Zinc8 Board. His extensive experience in the New York financial markets and his years of leadership in energy sustainability, as well as his deep knowledge of the rapidly developing Clean Tech markets, will greatly assist the company as it pursues growth opportunities in the U.S Energy Storage Industry," said Ron MacDonald, President and CEO of Zinc8 Energy Solutions.
Mr. Parker has been a leader in the ClimateTech ecosystem, working with non-profits, government agencies, venture and angel funds, national laboratories, accelerators, and incubators in a variety of volunteer and paid roles to develop the people and technologies to drive the clean energy transition.
Mr. Parker is the Managing Partner of Honu Hoku Advisors, serves on the advisory board of HELIXintel, and is an Adjunct Professor at New York University. He has extensive, multi-disciplinary experience supporting the development and scaling of early-stage companies, including serving as an Entrepreneur-in-Residence for the New York State Energy Research and Development Authority ("NYSERDA"), which focuses on guiding early-stage companies through specific projects and issues.
Previously, he was a Director at Sif Capital Advisors, an Innovation Advisor to NYSERDA, Operating Partner at the S CAP Cleantech Venture Fund, and the co-founder of Empire State Greenhouses.
The Company also announced that it will make the first milestone payment to Digital Energy Corp. pursuant to the terms of the Initial Deployment Agreement as described in the Company's news release dated March 11, 2020.
Digital Energy achieved their first milestone in the Zinc8 battery demonstration project at Fresh Meadows Community Apartments in Queens, New York as announced on January 18, 2022.
The battery demonstration project at Fresh Meadows Community Apartments in Queens, New York is Zinc8's first private-sector installation of a 100kW/1.5MWh storage system project.
In consideration for Digital Energy's participation in the project and achievement of certain milestones, Zinc8 has agreed to pay Digital Energy an aggregate of USD$100,000 in four tranches of USD$25,000 each upon the achievement of the following performance milestones:
(i) upon agreeing on a suitable location for the project;
(i) upon system startup and submission of commissioning report to NYSERDA;
(iii) upon Con Edison final interconnection approval and the start of normal operations; and
(iv) upon submission of the final report to NYSERDA.
Each milestone payment is payable by the issuance of Zinc8 shares. A total of 126,615 shares at a deemed price of $0.26 per share will be issued to Digital Energy as the first tranche milestone payment.
Digital Energy and Zinc8 will continue to work together to identify similar projects in New York State and Northeast USA, for the Zinc8 Energy Storage System.
About Digital Energy Corp.
Digital Energy is a premier consulting firm specializing in the energy industry with a focus on cogeneration plant operations and financial performance. In addition, Digital personnel have experience with the NYISO, REV PSC proceedings, and Utility rate case proceedings, Digital is an authorized aggregator in the Con Edison's BQDM Demand Response Program and has experience with other utility demand response programs. Digital assists its clients in operating their cogeneration plant, analyzing utility bills, procuring energy supply, and assisting standby rate customers in receiving the Standby Reliability Credit.
Digital specializes in maximizing financial performance from your energy infrastructure assets and analyzing upgrades to energy infrastructure quite often utilizing NYSERDA/Utility programs.
About Zinc8 Energy Solutions Inc.
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, energy efficiency, and financial benefits. Zinc8 strives to meet the growing need for secure, resilient, and reliable power.
To learn more about Zinc8's technology, please visit: https://zinc8energy.com
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. [ MORE ] |
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ABOUND Energy (formerly Zinc8 Energy Solutions)
Vancouver (CleanTech & Energy)
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