M2 EQUITYBITES-December 27, 2017-MGX Minerals to Acquire Canadian Zinc Air Battery Developer ZincNyx in Cash/Stock Transaction
CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) has agreed to acquire all issued and outstanding shares of Canada-based zinc air battery developer ZincNyx energy storage system from 8230137 Canada Inc.
The company, which has a turnover of more than pounds 40m, launched the environmentally-friendly batteries last year and is now looking to grow its market share from 60% of world zinc air battery sales to 70%.
Our next goal is to serve 70% of the global air battery market over the next two years with the help of our new products, which will hopefully create jobs.
But Johnson, a former NASA scientist with a bachelor's degree in mechanical engineering and a master's degree in nuclear engineering, hopes his legacy will stand for something far more important than a children's toy, He has put much of the money he made from the Super Soaker into two projects: the lithium air battery and the JTEC (Johnson Thermo-Electrochemical Converter) system.
The lithium air battery reacts to oxygen from its surroundings instead of reacting to corrosive metal materials that are stored inside traditional batteries.
The company noted that the second patent addresses gas diffusion electrodes for the fuel cell and metal air battery industry using nano-sized transition metal catalysts and alloys.
For example, a methanol fuel cell and a zinc air battery have very different power and voltage requirements.
Absolute determination of exchange and new technical air battery
The new facility, in Portland's Airport Way Urban Renewal Area, is already in operation and will be used for development of the company's Zinc Flow Air Battery
(ZFAB) for electric vehicles and energy storage applications.
New end user markets of defense, automotive and electronics will grow the zinc air battery
Scientists are pushing to develop a lithium air battery
because they use air as the cathode and lithium metal as the anode.