Technological Breakthrough in the Mass Energy Storage Industry Pushing Shares of MGX Minerals Higher

By: Dylan Sikes - AllPennyStocks.com News

Tuesday, January 9, 2018

Shares of MGX Minerals Inc. (OTCQB:MGXMF) are on the move higher today as the company announced a major technological breakthrough by its wholly owned subsidiary, ZincNyx Energy Solutions Inc., which is a private company that was acquired from the mining giant Teck Resources in December 2017.

ZincNyx Energy Solutions, Inc. has solved the long standing reliability issue caused by the growth of zinc dendrites in zinc-air flow batteries. The problem occurs when filaments of zinc (dendrites) grow in unintended areas and may cause membrane ruptures or short circuits to occur. The ZincNyx system is immune to this effect since it uses zinc dendrites as fuel and consumes them as part of its normal operation.

Avoidance of dendrite damage is the single most significant hurdle in development and commercialization of zinc-air flow battery systems. Phase II design and testing has been completed and final commercial design is now underway for mass production of its scalable 20kWh capacity zinc-air mass storage battery.

Shareholders are reacting favorably to today’s news by sending shares of MGXMF higher to the tune of 6.28% at last check in early-afternoon trading with the stock currently trading at $0.92.

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