Zinc8 Energy Solutions (CSE:ZAIR) announced that it is rebranding to Abound to reflect its strategic shift in corporate management and fresh vision and go-forward plan.
The company said the decision to rebrand will support it in achieving its vision of providing a low-cost, long-duration energy storage solution to enable global energy sustainability with its zinc-air harnessing technology Zaeras.
Its forward-looking plan includes shifting from a build-and-sell model for Zaeras to a profit-sharing model whereby the company will enter into joint ventures with energy providers who overproduce and sell excess power at a discount.
The company will offer its technology to these providers to enable them to sell excess power during peak usage times with the revenue split to initially favor it then switch to the provider receiving the larger percentage once Abound has achieved a return on investment.
The company said it also plans to transition to a development model centered around partnership and collaboration to offset costs and drive the development of its technology.
The company said its name change to Abound Energy will be effective at the opening of trading on January 31, 2024.
Its shares will trade on the Canadian Securities Exchange (CSE) under the ticker symbol “ABND.”
“Abound is not just a name change; it symbolizes a significant turning point for our company and makes clear our unwavering commitment to excellence and innovation, to make clean energy abundant,” the company said in a statement.
“With a renewed focus on management, a comprehensive business plan, and a commitment to fostering top talent, we invite our stakeholders to join us on this exciting journey as we strive to create a future where possibilities abound.”
Further details about the company’s rebrand and new go-forward strategy can be found here.
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.