Zinc8 Energy Solution Inc. (OTCMKTS: ZAIRF) has announced that the company and its “Zinc-air energy storage system technology’ have been picked at the WE3 Summit as the ‘Energy Tech Innovator’ at the back of the New York Power Authority’s nomination.
Ron Mcdonald, the company’s CEO, said, “This is another important affirmation of Zinc8’s unique energy storage technology and its leading role in providing long duration and low-cost energy storage which allows higher integration of renewable energy into the grid.”
Zinc8 Energy Solutions changes the OTC Markets ticker symbol.
Recently, the company announced that its common shares would begin trading in the OTC Markets under ticker ZAIRF effective June 28, 2021. The company changed the symbol to match the change of its name effected in 2020. The new symbol is the same as the trading symbol on the Canadian Securities Exchange, which has been the main trading exchange. As a result, the company focuses on potential customers in the US, and management believes the US interest will help the company grow. On the other hand, the shares will continue trading in the CSE exchange under ticker ZAIR and the Frankfurt Stock Exchange under OE9.
Zinc8 Energy Solutions announces Q1 2021 financial results
In the first quarter ended March 31, 2021, the company had a capital working balance of $15.5 million. Zinc8 Energy Solutions closed a $15.535 million private placement offering in which it issued 18.75 million common shares at $0.54 per share.
During the quarter, the company entered a $200 000 contract with a leading cloud provider to show its patented zinc-ari8 energy storage system and verify and evaluate the energy storage technology. The company also entered a host site deal with The University of Buffalo and New York Power Authority.