Zinc8 Company has received up to $9 million in tax credits from the New York State Development Bureau to support the company's upcoming production line in New York State. The tax reduction is an incentive measure for the company to establish its first US factory in New York State. The tax reduction will last for a period of 5 years, depending on the level of investment and the employment opportunities created.

New York Governor Kathy Hochul announced a new goal this week: by 2030, the state will achieve a nationally leading 20 gigawatt of energy storage, accounting for at least 20% of the state's peak electricity load. The roadmap to achieve this goal was submitted by the New York State Energy Research and Development Agency and the New York State Department of Public Services to the Public Services Committee for review, proposing a comprehensive set of recommendations to expand the state's energy storage program, economically and effectively promote rapid growth of renewable energy, and improve grid reliability and electricity elasticity.

If approved, the roadmap will strongly support energy storage construction and is estimated to reduce the future state wide power system costs by nearly $200 million. In addition, reducing harmful fossil fuel pollutants can also improve public health. This roadmap also aligns with the goals of the Climate Leadership and Community Protection Act, which aims to generate 70% of the state's electricity from renewable energy by 2030 and achieve 100% zero emission electricity by 2040.

Governor Hochul said, "Storing clean renewable energy and supplying it where and when needed is one of the key challenges we must overcome to reduce emissions across the state, especially from traditional fossil fuel peak power plants. This roadmap will serve as a model for other states to maximize the use of renewable energy while achieving a reliable and resilient transformation of the power grid."

Once the final site is determined, Zinc8 plans to make a significant investment within five years to build an automated production line, making it the company's US headquarters and initial production plant. With the support of 5-year tax reduction, the company will create up to 500 job opportunities for the local economy.

Zinc8 has developed innovative battery technology using zinc and air as reaction media. As shown in the figure below, zinc metal microparticles are stored in the potassium hydroxide solution in the middle storage tank. During discharge, they are pumped into the oxidation device on the right and react with air to generate an electric current. The generated zinc oxide is returned to the intermediate tank for storage, and when charged, it is pumped into the left reduction device to electrolyze zinc oxide into oxygen and zinc metal microparticles. Repeat the charging and discharging process in this way.

Unlike lithium-ion batteries that require a new stack to expand, Zinc8 has decoupled the relationship between power and capacity. This means that the expansion of Zinc8 products can be achieved by simply increasing the size of the storage tank and supplementing the amount of zinc fuel. Zinc8 ESS technology is a modular energy storage system designed to provide power in the range of 20kW to 50MW, with a storage time of 8 hours or longer. Due to the fact that the energy storage capacity of the system is only determined by the size of the zinc storage tank, it will be a very cost-effective and scalable solution, becoming an alternative to the fixed power/energy ratio of lithium-ion batteries.

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