Governor Hochul Announces Zinc8 Energy Solutions, a Long-Term Energy Storage Leader, Will Locate its First Commercial Manufacturing Facility and American Headquarters in Ulster County

Company Will Create 500 Jobs Through a 5-year $68 Million Investment Plan in the Mid-Hudson Region and Build Environmentally and Economically Friendly Zinc-air Long Duration Energy Storage Systems

Anchor Tenant in the New $100 Million iPark 87 Business Park Will Transform the Three-Decades-Vacant IBM Site into an Economic Growth Engine

Expansion in New York Complements Governor Hochul's Bold Environmental Agenda for Reducing Greenhouse Gas Emissions and Combating Climate Change

Governor Kathy Hochul today announced Zinc8 Energy Solutions, USA, a leader in the long-duration energy storage industry, will relocate its $68 million manufacturing facility and U.S. headquarters to Kingston, Ulster County at the former Tech City, IBM Ulster campus, now known as iPark 87 business park. Zinc8 Energy Solutions develops innovative battery technology that uses zinc and air as fuel. Zinc8 has committed to creating up to 500 jobs, complementing New York State's national leadership in growing the green economy, spearheading efforts to reduce greenhouse gas emissions, and prioritization of combating climate change. The company's location to Ulster County supports Governor Hochul's newly announced framework for the State to achieve a nation-leading six gigawatts of energy storage by 2030.

"Creating good jobs that will lead to a greener, more sustainable New York for our children and grandchildren is not only beneficial to our economy, it's the right thing to do for our planet," Governor Hochul said. "Zinc8's cutting edge, clean energy storage technology is another tool that will allow us to achieve our bold climate agenda and continue to make New York State a leader in advancing the green economy."

Zinc8 Energy Solutions (Zinc8) has submitted a Letter of Intent to be the anchor tenant and lease approximately 237,000 square feet of warehouse and outdoor space at iPark 87, which is owned by National Resources. Zinc8 will invest approximately $68 million over 5 years to automate and build out the site, making the region Zinc8's U.S. headquarters and a major hub of manufacturing operations, research and development. Empire State Development (ESD) has agreed to provide up to $9 million in performance-based Excelsior Jobs Program tax credits to encourage and support the creation of 500 jobs.

The new $100 million iPark 87 business park will serve as a mixed-use technology campus, transforming the former IBM site and positioning the former TechCity as an innovative center for economic growth after 30 years of stagnation. Part of iPark87's plan is to build a 600-unit net-zero carbon footprint sustainable residential community, powered 100 percent by renewal energy and constructed fully from sustainable building materials. The business park will also include several public amenities like pocket parks, bike and walking trails, and a wellness and arts center. Recognizing the goals of job creation, economic growth and sustainability for the campus and the surrounding region, ESD supported the business park's development with an $8 million grant through the Upstate Revitalization Initiative.

Read the full press release here.