The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Zinc8 wins state tax credits for US$68 million New York manufacturing facility

LinkedIn
Twitter
Reddit
Facebook
Email

Zinc-air flow battery company Zinc8 Energy Solutions has won US$9 million in state tax credits for its new manufacturing facility in Ulster County, New York.

The Vancouver-based company has been approved for a grant from Empire State Development, New York state’s development authority, in performance-based tax credits as part of the Excelsior Jobs Program.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The incentives are being offered to the company for locating its first commercial manufacturing facility in New York, which will manufacture long-duration energy storage systems (ESS). The company’s technology generates zinc particles using outside energy, stores them in potassium hydroxide electrolyte and combines them with oxygen to generate electricity before returning the byproduct (ZnO) back through the system.

The new plant will be located in the iPark 87 business park, which used to house a facility belonging to multinational technology firm IBM. Zinc8 will invest US$68 million in the site over five years and use it as its US head office.

It will be Zinc8’s first full-scale commercial manufacturing facility as it moves from small demonstrator projects, like an NYSERDA-supported 15-hour project announced one year ago, to large-scale commercialisation of its product.

The company has not yet revealed when the facility will start producing products but the five-year timeline implies it will reach full production capacity by 2028. Energy-Storage.news has approached it for comment and will update this article in due course.

Zinc8 CEO Rob MacDonald said: “The historic measures taken by New York State to reach ambitious carbon neutrality goals are driving clean energy innovation and Zinc8 is committed to being an integral part of New York’s green economy.”

The tax credits it is receiving at the state level are in addition to federal investment tax credits available for US clean energy manufacturing brought as part of the Inflation Reduction Act.

MacDonald wrote a guest blog discussing zinc as a battery chemistry for Energy-Storage.news back in 2020. The company is one of a handful aiming to commercialise batteries using the abundant element, including Zinc Battery Initiative members ZincFive, Salient Energy, Urban Electric Power, e-Zinc, Redflow, Enzinc, Enerpoly, ZAF Energy Systems, AEsir Technologies, Inc., and Imprint Energy.

Another is Eos Energy Enterprises, a firm much further ahead in commercialising its zinc-based BESS product than the others. In September, the US Department of Energy Loan Programs Office started due diligence for a loan application from Eos, which is aiming for an annual production capacity of 3GWh on US soil.

See more Energy-Storage.news coverage of the zinc battery storage space here.

Energy-Storage.news’ publisher Solar Media will host the 5th Energy Storage Summit USA, 28-29 March 2023 in Austin, Texas. Featuring a packed programme of panels, presentations and fireside chats from industry leaders focusing on accelerating the market for energy storage across the country. For more information, go to the website.

22 October 2024
New York, USA
Returning for its 11th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
18 March 2025
Austin, Texas
The Energy Storage Summit USA is the only place where you are guaranteed to meet all the most important investors, developers, IPPs, RTOs and ISOs, policymakers, utilities, energy buyers, service providers, consultancies and technology providers in one room, to ensure that your deals get done as efficiently as possible. Book your ticket today to join us in 2025!

Read Next

June 14, 2024
System integrator Stem Inc and developer Prometheus Power have deployed the first of three co-located BESS projects in Arizona for utilities in the AEPCO co-operative.
June 13, 2024
US$5 million will be made available for long-duration energy storage (LDES) projects via a competitive solicitation run by the New York State Energy Research and Development Authority (NYSERDA).
June 13, 2024
TCC Group Holdings, the majority owner of New HOrizons Ahead (NHOA), intends to increase its holding and take the company private, delisting it from the Euronext Paris exchange.  
Premium
June 12, 2024
We hear from consultancy AFRY about how energy storage can reduce market risks for CfD-winning projects in the UK, now and in future, as Ørsted launches a BESS at a major wind farm project with a CfD.
June 11, 2024
US-based independent power producer (IPP) NextEra and utility Entergy have revealed a five-year, 4.5GW development pipeline of solar and storage projects.

Most Popular

Email Newsletter