- Zinc8 Energy Solutions (ZAIR) has raised over $1.8 million by exercising warrants over the last few weeks
- Money raised will go towards commercializing its unique patented zinc-air energy storage systems
- The company raised $1,818,806 in gross proceeds by exercising 6,062,688 warrants
- Following the exercise of the warrants, Zinc8’s total shares outstanding is approximately 161 million shares
- Zinc8 Energy Solutions is unchanged, trading at $0.30 at 11:44 am ET
Zinc8 Energy Solutions (ZAIR) has raised over $1.8 million by exercising warrants over the last few weeks.
Money raised will go towards commercializing its unique patented zinc-air energy storage systems.
The Vancouver-based company’s system stores energy in the form of zinc particles, similar in size to grains of sand. When the system is delivering power, the zinc particles are combined with oxygen drawn from the surrounding air.
The company raised $1,818,806 in gross proceeds by exercising 6,062,688 warrants over the past few weeks.
Following the exercise of the warrants, Zinc8’s total shares outstanding is approximately 161 million shares.
“Raising over $1.8 million through the exercise of these warrants over the last few weeks not only adds to our cash position, but reinforces the support that we have received from our shareholders. We appreciate the investors’ support to achieve our developmental goals as we progress on our path towards full commercialization of our zinc-air energy storage systems,” said CEO Ron MacDonald.
“With President Joe Biden signing into law the Inflation Reduction Act (“IRA”), it is clear to us that the United States aims to become a leader in the manufacturing of clean technology solutions supporting decarbonisation, energy security and economic growth. These support programs, coupled with the support of high-profile figures such as Senator Schumer, has recently led us to the decision to locate and build an initial production facility for Zinc8’s energy storage systems in the United States.”
Zinc8 Energy Solutions is unchanged, trading at $0.30 at 11:44 am ET.
