MGX Minerals Inc (CSE:XMG, OTCQB:MGXMF) Monday updated on its wholly-owned energy storage subsidiary ZincNyx Energy Solutions, saying it had developed new methods to expand the capacity of its zinc-air fuel cell battery.
Earlier this month, MGX unveiled plans to spin-out the subsidiary to realize its full value, into a separate publicly traded company.
The subsidiary has developed a modular storage system using zinc and air to store energy in the form of zinc particles and has so far been awarded 20 patents.
The system contains none of the traditional high cost battery commodities such as lithium, vanadium or cobalt.
When the system is generating power, the zinc particles are delivered from what's called the 'Main Tank' to the Fuel Cell in the bearer electrolyte.
These particles are combined with oxygen drawn from the air and electrical power is delivered to the load, outlined MGX.
Although the Main Tank of the basic system may be made of any suitable size, there are practical limitations to the physical size and electrical capacity of the regenerator and fuel cell units, MGX said today.
ZincNyx has overcome this by developing an expanded capacity system whereby multiple regenerator units and multiple fuel cells can be assembled into a single system to deliver a wide variety of configurations and capacities.
As reported recently, ZincNyx is looking at the possibility of replacing marine diesel engines with electric engines and zinc-air fuel cells.
MGX shares eased 1.14% to C$0.87.