Zinc8 Energy Solutions (CSE:ZAIR) Inc has released its first quarter financial results and issued a corporate update for the three months ended March 31.
In March, the company received approval from the Ulster County Industrial Development Agency (UCIDA) of the issuance of up to US$10 million in tax-exempt revenue bonds for up to $10 million for the buildout of the company’s proposed first commercial manufacturing facility.
Earlier in the quarter, Zinc8 also got approval from Empire State Development for up to $9 million in performance-based excelsior jobs program tax credits to incentivize the company to locate and establish its first US-based production facility in New York state.
That’s on top of advisory services and up to $500,000 in funding from the National Research Council of Canada Industrial Research Assistance Program, the company said.
More information can be found here.
Zinc8 is focused on developing and commercializing its low-cost, long-duration Zinc8 Energy Storage System (ZESS) for utilities, microgrids, and commercial and industrial markets.
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