Press release | Press Releases | Writing

08.12.22

The senator personally called the CEO of Zinc8 to pitch Ulster County as the site of their investment, and as the cleanup begins, Schumer announces that the battery maker has signed the letter of intent to make Ipark87 d ‘Ulster, the former Techcity campus, the future home of the new hub

The clean energy investments delivered by Schumer from the Cut Inflation Act and the bipartisan Infrastructure Act were intended to ensure that companies like Zinc8 would bring home domestic manufacturing of essential clean technologies, while fueling the fight against climate change; And less than a week after the Senate passed the Cut Inflation Act, we are already seeing results.

Schumer: Zinc8 is ready to energize the Hudson Valley economy with new jobs, a dump of economic energy, and fuel the fight against climate change!

On the heels of passing the largest clean energy investment ever, U.S. Senate Majority Leader Charles E. Schumer announced today that following his direct appeal, Zinc8, a leader in advanced battery and energy storage technologies, has officially signed a letter of intent to make Ulster County’s former TechCity campus, now known as iPark87, the headquarters of its first major manufacturing center as the company turns to commercialization. The senator has worked tirelessly to increase federal investments in American manufacturing, including for critical clean energy products like batteries, and in addition to his personal advocacy, the federal clean technology manufacturing incentives he enacted into the bipartisan Infrastructure Investment and Jobs Act. along with other incentives included in the Cut Inflation Act passed by the Senate were a key factor in Zinc8’s announcement of its intention to come to Ulster County. Schumer explained that with Zinc8 as one of iPark87’s major tenants, the Hudson Valley could see up to 500 new high-paying clean energy jobs, the perfect start to a new chapter. as the Environmental Protection Agency (EPA) and iPark87 officially kick off their cleanup. polluted site efforts, transforming the campus and creating a national success story for a cleaner environmental future.

“Zinc8 is the jolt of electricity the Hudson Valley needs and is proof positive that when you invest in the fight against climate change, you are investing in the creation of well-paying jobs, new economic growth and a better future for our communities. As the EPA officially begins cleaning up this once contaminated asbestos dump, I can think of no better way to usher in a renaissance for Ulster County than by making it the foundation to strengthen the fight against change. climate with an investment in the manufacture of clean technologies “, said Senator Schumer. “When I passed the Inflation Reduction Act less than a week ago, and defended the Bipartisan Infrastructure Investment and Jobs Act by the way last year, the Hudson Valley and economy-boosting investments like this were at the forefront of my mind. I applaud Zinc8 for its commitment to Ulster County and look forward to continuing to work hand-in-hand to propel New York’s leadership as a global battery manufacturing hub.

“Last July, Senator Schumer came to Ulster County and promised to work tirelessly to revitalize our former IBM campus, returning it to its rightful place as the beating heart of our revitalized and revamped county economy. of Ulster”, said County Executive Pat Ryan. “Today, as we officially launch the site’s asbestos removal, the promises made are promises kept. With the Inflation Reduction ActHistoric federal investments in the climate and clean energy economy energize our efforts, I am thrilled that Zinc8 has signed a letter of intent to come to iPark87 and create 500 new clean energy jobs. Our work at TechCity will not only continue to attract new businesses and create thousands of new jobs, it will also serve as a national model for restoring industrial sites to create the brighter, greener future that future generations of our planet deserve.

“The City of Ulster, after a long and arduous battle, is pleased to see the start of clearing the piles of demolition debris as the first major step in the redevelopment of the former IBM facility now known as iPark87. I would like to thank Senator Schumer for his tremendous advocacy for the cleanup and revitalization of the site to create jobs and attract new businesses to our city. This victory is the result of the cooperative efforts of the USEPA, of NYSDOL, NYSDEC, Ulster County and the City. I am very grateful and delighted with the efforts of all agencies to achieve this first stage of redevelopment,” said Ulster City Supervisor James E. Quigley.

Schumer personally called Zinc8 CEO Ron MacDonald to urge them to expand operations in Ulster, and the company said the senator’s support strongly influenced the decision of the location of their first major production plant. Additionally, Schumer has worked tirelessly to increase federal incentives to bring manufacturing back from overseas, including in the technology and clean energy industries. Critically, this week Schumer guided the passage of the Cut Inflation Act in the Senate, the largest climate package in each House pass at $369 billion, and fought to include targeted incentives to help clean battery companies like Zinc8 achieve commercialization by expanding their manufacturing operations in the United States.

More specifically, the Inflation Reduction Act includes a new clean manufacturing tax credit, the 45X Advanced Manufacturing Production Credit, which will greatly benefit companies like Zinc8. This production tax credit will incentivize battery component manufacturers and processors of critical minerals – the materials that go into batteries and many other clean energy technologies – to produce more of these components and refine more these minerals here at home. Incentives are targeted to each battery component and scale as battery capacity increases to receive credit for manufacturing key battery parts. For example, each battery cell will receive a $35 credit that scales with battery capacity. The credit runs at full value until 2029, then begins to decline in 2030 until it is completely phased out from 2032. The credit also encourages domestic production of solar panels, wind turbines and inverters – the technology needed to use them. renewable technologies in our electricity grid. In addition to this new clean manufacturing tax credit, the Inflation Reduction Act includes $10 billion for a revamped version of the Advanced Energy Project Credit, which helps cover the initial cost of retrofitting an existing facility to create qualifying clean technologies – including batteries and critical minerals – or to build new facilities for the same purpose. Beyond direct manufacturing incentives, the Inflation Reduction Act invests in reducing the cost of renewable electrical resources such as wind and solar, which batteries, like the ones Zinc8 is committed to manufacturing in New York, combine to balance out any intermittency and provide clean, consistent power to households and businesses.

This potential federal boost is in addition to investments already made in the Infrastructure Investment and Employment Act which included $6 billion in federal incentives to expand U.S. battery research and development capabilities, bolster domestic battery production, and strengthen the U.S. supply chain for batteries and battery storage technology. energy that often depends on foreign sources.

This game-changing announcement for the region comes as the EPA simultaneously begins to officially clean up the old TechCity campus, a cleanup effort Senator Schumer has fought to revive for years to create a new future. for the site for the type of investment like Zinc8. In July 2021, Schumer personally visited the asbestos-contaminated TechCity site, calling on the EPA to clean up and fully restore Ulster County’s former economic powerhouse, once IBM’s headquarters for 30 years. Following his visit, Natural Resources purchased the property from the previous owner. Earlier this summer, after Schumer’s plea, the company has reached an agreement with the EPA to remove the asbestos pileswhich has finally started.

Schumer explained that Zinc8 specializes in flow battery technology that relies on the regeneration of zinc particles to store and distribute energy, and now, with this letter of intent, plans to commercialize its next-generation technology. Zinc8 and its innovative zinc-air energy storage technology have strong ties to New York. The company won the New York Power Authority (NYPA) Innovation Challenge and worked with NYPA, the nation’s largest state utility, to build a 100-kilowatt, 1-megawatt-hour pilot project in the western New York. Additionally, Zinc8 signed a second agreement in 2020 to install a 100 kW, 1.5 MWh zinc-air energy storage system demonstration project in Brooklyn.

Schumer has long been a champion of strengthening New York’s battery research and manufacturing industry. Last December, as a result of his direct advocacy, Schumer secured Binghamton University’s New Energy NY Proposal spot as a finalist in the EDA’s Regional Challenge for Tens of Millions in Federal Investments to to establish a battery research and manufacturing center in the Southern and Greater Upstate New York area. Schumer, Harvey Stenger, president of the University of Binghamton, and Dr. Stan Whittingham, winner of the 2019 Nobel Prize in Chemistry for his work in the development of lithium-ion batteries, recently wrote a joint editorial on the importance of strengthening battery technology for America. coming.

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