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Magnesium is light and strong metal. Its density is a quarter of that of iron, two-thirds of aluminum. It is also a very good conductor of heat.
Another notable property of magnesium is that it is highly reactive. When magnesium meets water, it burns fiercely. Magnesium is no less flammable to hydrogen.
Compared for the same volume, magnesium is heavier than hydrogen. However, hydrogen requires a sturdy tank, and it might leak from the tank in case of an accident. On the other hand, solid magnesium does not catch fire at temperatures below 650 °C , which means it can be stored at room temperature. It can actually be stored for longer than ten years.
Hydrogen, which requires specialized facilities, cannot be stored so easily. If we store energy which a 1million kW power plant generates as hydrogen in 1 atmosphere, we need an enormous tank such as 1km x 1km x 10m. The same amount of energy can be stored as 15m x 15m x 10m of magnesium.

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