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New Listing: MGX Renewables Inc. (CSE:MGXR)

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The company was created from a spin-out of approximately 40% of the shares held by MGX Minerals Inc.

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Additional Information:

Company: MGX Renewables Inc.
Website: http://www.MGXrenewables.com
Stock Symbol: CSE: MGXR
Date Published: Jul 23, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

MGX Renewables Inc. is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “MGXR”.

The company was created from a spin-out of approximately 40% of the shares held by MGX Minerals Inc.

The global rise in electricity generation from renewable sources has led to increased demand for advanced batteries that can be used to firm this intermittent supply.

MGX Renewables has developed a patented zinc-air flow battery that efficiently stores energy in the form of zinc particles, similar in size to grains of sand.

The MGXR modular Energy Storage System is designed to deliver power in the range 20kW - 50MW and energy storage in the range of 120kWh - 1GWh over extended periods of time.

With the advantage of rechargeable zinc-air battery technology, the system can be configured to support a wide range of discharge power, recharge power and duty cycle requirements.

Since the energy storage capacity of the system is determined only by the size of the zinc storage tank, a very cost-effective and scalable solution now exists as an alternative to the fixed power/energy ratio of the lithium ion battery.

When the system is delivering power, the zinc particles are combined with oxygen drawn from the surrounding air.

When the system is recharging, zinc particles are regenerated, and oxygen is returned to the surrounding air.

The Regenerative Zinc-air Fuel Cell is based on an intellectual property portfolio of more than 20 granted patents.

The flexibility of the MGXR Energy Storage System enables it to service a wide range of applications. Typical examples include:
• Storage and smoothing current from renewable energy sources such as wind and solar
• Commercial, industrial backup replacing diesel generators
• Industrial scale, on-demand power for peak shaving or standby
• Grid scale energy storage for energy trading and arbitrage

The shares are currently trading at $0.17.

For more information, please visit the company’s website www.MGXrenewables.com, contact Jared Lazerson, President and CEO, or email jared@mgxrenewables.com, or contact Patrick Butler, Corporate Development, at 604-623-2667.

I’m Megan Edwards for Investmentpitch Media