Zinc8 Energy Solutions Inc. announced the approval for a grant from the Empire State Development ("ESD") of up to $9 million in performance-based Excelsior Jobs Program ("EJP") tax credits to incentivize the Company to locate and establish its first US-based production facility in New York State. The tax credits are available immediately for a period of up to 5 years, in whole or part, depending on the level of investment and jobs created. Once the final site selection has been determined, Zinc8 intends to make a significant investment over a five-year span to automate and build out the site, making this Zinc8's U.S. headquarters and initial production facility.

Further to the build out, Zinc8 plans to create up to 500 clean jobs over this period for the local economy with support of the EJP tax credits. The Excelsior Jobs Program provides job creation and investment incentives to firms in targeted industries such as biotechnology, pharmaceutical, high-tech, clean-technology, green technology, financial services, agriculture and manufacturing. Firms in these industries that create and maintain new jobs or make significant financial investment are eligible to apply for up to five tax credits.

The Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments.