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Zinc8 team up with Vijai Electricals to explore JV opportunities
Canadian battery technology company Zinc8 Energy Solutions, has signed an agreement in principle with Vijai Electricals Ltd from Hyderabad, India. The parties have agreed to explore joint-venture projects concerning the deployment of Zinc8's patented Zinc-Air Energy Storage System.
Additionally, they have agreed to explore the potential of manufacturing components of the Zinc-air Energy Storage System in India. Vijai, with close to 50 years of industry experience, has established global partners and an extensive distribution network in over 40 countries, as well as an established customer base, which is being examined as a potential pipeline of projects for the Zinc8 system. "I have been impressed by Vijai's 47-year track record in distributed energy and manufacturing, its commitment to quality, and its trusted partners in India and over 40 other countries. This Agreement is an important step as Zinc8 enters the global long duration energy storage market" says Ron MacDonald, President and CEO of Zinc8 Energy Storage Inc, in a press release. "Vijai is happy to work with Zinc8, a pioneer in cost effective Battery Energy Storage System (BESS) for longer durations. With Vijai's extensive manufacturing strength and the advantage of India's educated and relatively inexpensive workforce, we are confident that this solution will go a long way to serve the needs of long duration BESS. For countries like India which need round the clock renewable energy systems, it is expected that Zinc8 BESS would fill the need in an effective way. Vijai, with its past experience of successfully serving export utility markets around the world, will be proud to work towards fulfilling this need." adds Dasari Jai Ramesh, Chairman of Vijai Electricals Ltd.
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