(TheNewswire)
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VANCOUVER, BC – TheNewswire - January 30, 2024 / Zinc8 Energy Solutions Inc. ( “Zinc8” or the “Company” ) (CSE:ZAIR) (OTC:ZAIRF) (FSE:0E9) is pleased to welcome Mr. Scott Larson to the Board of Directors of the Company (the “Board”) and the transition of Mr. Robert Parker off of the Board and into an enhanced executive role with Zinc8 Energy Solutions (USA) Inc. (“Zinc8 USA”), a wholly owned subsidiary of Zinc8, where he will be joined by Mr. Doug MacDonald. The Board would like to formally acknowledge and express its’ appreciation of Mr. Parker’s contributions to the Company. As Zinc8 charts a course for future growth and innovation, the Company is pleased to announce strategic enhancements to its Canadian and US subsidiary Boards of Directors, marking a significant milestone in the Company's trajectory towards innovation and growth.
Strategic Leadership Enhancements:
The Company is delighted to welcome Mr. Scott Larson, a seasoned executive with over 25 years of expertise in corporate finance, technology development, and entrepreneurship to the Board of Zinc8.
Mr. Scott Larson, currently serving as the CEO of SpaceAlpha Insights, a Vancouver-based NewSpace company, brings a wealth of knowledge to the Board. Mr. Larson is at the forefront of developing the world's premier commercial synthetic aperture radar technology. His extensive leadership experience extends to his previous roles as CEO and co-founder of Helios Wire, a satellite company dedicated to building a space-enabled IoT/M2M network, and UrtheCast, where he played a pivotal role in scaling the company from inception to a successful public listing on the TSE, raising over $250 million in the process.
Beyond his roles in the private sector, Mr. Larson's leadership extends to the public domain, where he currently serves as the Lead Director on the Board of a Nasdaq-listed company. Expressing his enthusiasm about joining the Zinc8 Board, Mr. Larson stated, "I'm thrilled to be joining the Board of Zinc8 and supporting it in any way I can, particularly as we look to further the technology and scale the Company." Zinc8 Energy Solutions welcomes Mr. Larson's wealth of experience and looks forward to leveraging his insights to drive innovation and growth in the company's pursuit of excellence in the energy storage sector.
Zinc8 Energy USA, Inc.:
In being appointed Chairman and CEO of Zinc8 USA (wholly owned subsidiary of Zinc8), Mr. Parker's strategic leadership, extensive management experience, and proven track record in scaling early and growth-stage companies, positions him as a driving force in guiding Zinc8's pursuit of growth opportunities in the U.S. Energy Storage Industry. His unique background and range of skills has positioned him as an influential figure in the Northeastern US ClimateTech innnovation ecosystem and a leader in energy sustainability. Mr. Parker’s extensive experience in the New York financial markets and his years of leadership in renewable energy, sustainability, and the clean energy transition, as well as his deep knowledge of the rapidly developing Clean Tech markets, will greatly assist Zinc8 as it pursues growth opportunities in the U.S Energy Storage Industry.
Within the ClimateTech ecosystem, Mr. Parker has been a dedicated leader, actively collaborating with non-profits, government agencies, venture and angel funds, national laboratories, accelerators, and incubators. His commitment to developing both people and technologies for the clean energy transition has been evident in various volunteer and paid roles.
Mr. Doug MacDonald, a seasoned global market leader, is also joining the US Board to contribute his expertise to streamline the business operations of Zinc8 USA. Mr. MacDonald’s leadership has been instrumental in the successful launch of new technologies in sustainable packaging and photovoltaic manufacturing across diverse global markets. His achievements include working with renowned global market leaders such as Applied Materials (AMAT), Q-Cells, MiaSole, GT Solar, Dow Corning, VRB, Siemens, GE, Samsung, Evergreen Solar/Sovello, REC & Alta Devices. His teams have demonstrated exceptional prowess in navigating the complexities of markets in the US, Canada, Europe, and Asia, establishing a track record of successful collaboration with industry giants.
With a focused and results-driven approach, Mr. MacDonald has overseen both domestic and international supply chain and manufacturing contracts, ensuring operational efficiency and strategic alignment. His responsibilities have extended to driving the development, evaluation, testing, expansion, and certification of new technology and acquisitions, positioning him as a key player in the industry. "The combination of Mr. Parker's Cleantech experience with Mr. MacDonald's excellence in execution will be crucial for effectively scaling Zinc8's future manufacturing," stated Jason Birmingham, President and CEO of Zinc8 Energy Solutions.
Contributions and Expertise at Zinc8:
Zinc8 extends heartfelt gratitude to Mr. Parker for his dedicated service during the transitional phase of the Board. The Company looks forward with enthusiasm to the continued valuable input from Mr. Parker, as well as the esteemed contributions of Mr. Larson and Mr. MacDonald. Their collective expertise is poised to play a vital role in strategically positioning Zinc8 for success within the ever-evolving Long-Duration Energy Storage sector.
Zinc8 is also pleased to announce that it has arranged debt settlements with three directors, an officer and a consultant of the Company to settle an aggregate of $100,000 in indebtedness for accrued management and consulting fees, to be paid by the issuance and delivery of a total of 303,028 common shares of the Company in the aggregate, at a deemed value of $0.33 per share, plus GST (where applicable). The shares will be subject to resale restrictions for a period of 4 months and a day from their date of issuance.
The Company announces the grant of an aggregate of 2,450,000 incentive stock options to certain directors, officers and consultants of Zinc8 at an exercise price of $0.33 per share for a period of 5 years. Such options are granted pursuant to the Company's 10% rolling stock option plan and are in accordance with policies of the Canadian Securities Exchange.
About Zinc8 Energy Solutions Inc.
At Zinc8 we specialize in providing scalable, environmentally friendly, long-lasting energy storage solutions. Our multi-patented Zaeras™ Flow Battery, technology uses zinc-air chemistry, to store and deliver electricity on demand, without the restrictions or environmental risks associated with today's market leaders.
About Zinc8’s Zaeras™ Technology
Zinc8, utilizing its multi-patented Zaeras™ technology, whether deployed independently or as a facilitative technology, presents opportunities for achieving peak demand reduction, capitalizing on time-of-use arbitrage, engaging in value stacking programs, and entering the distributed long-duration energy storage domain. All of this aligns with the opportunity to achieve a notable decrease in carbon footprint.
Zaeras™ is unique in its inherent absence of fire or explosion hazards, sustained capacity preservation over its extensive lifecycle, and its versatility in independently managing charge and discharge operations. Similar to other Flow Battery technologies, Zaeras' energy storage capacity is solely dictated by the dimensions of the zinc storage tank. This characteristic yields a highly cost-effective and easily scalable solution, offering an alternative to the fixed power-to-energy ratio constraints, associated with lithium-ion batteries.
To learn more about Zinc8’s technology, please visit: https://zinc8energy.com
For more information please contact:
Email: Investors@Zinc8energy.com
Notice Regarding Forward Looking Statements
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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