TORONTO, ONTARIO — (Marketwired) — 05/26/15 — EEStor Corporation (formerly ZENN Motor Company Inc.) (TSX VENTURE: ESU) (the “Company”), today made available for viewing, a comprehensive video tour of its state of the art prototype production facility in Cedar Park, Texas. The tour is conducted by Dick Weir, Chief Science Officer of the subsidiary EEStor, Inc. (“EEStor”). The video is available for viewing at .
Ian Clifford, CEO of the Company, stated: “I–m pleased to provide our stakeholders with a thorough and detailed look at the high level of sophistication, automation and technological aspects at our facility in Cedar Park, Texas.”
EEStor is in the process of completing fully dried and encapsulated high-voltage robotic stacks of its capacitor technology. Once completed and independently certified, production prototypes would then be ready for EEStor–s joint venture partners and customers to conduct their own validation and performance testing.
About EEStor Corporation
The Company–s mission is to be the provider of leading edge electrical energy storage and related capacitor technologies. The Company operates on the principle and belief that a fundamental breakthrough in energy storage will be the catalyst for positive environmental and economic change globally. The Company–s current business strategy is focused on licensing and partnership opportunities across a broad spectrum of industries and applications building on its recent technology achievements with capacitors.
The Company holds an approximate 71.3% as-converted equity and voting interest and certain technology rights to a solid-state capacitor and related energy storage technologies currently under development by EEStor. The acquisition of the controlling interest in EEStor aligns the businesses of both companies and now allows the Company to benefit from other revenue streams that should be available to EEStor, including applications throughout the capacitor industry and not limited to high density energy storage applications.
EEStor–s capacitor and energy storage technology is still under development and a number of further development milestones must be achieved before commercial viability can be fully established. There are significant risks associated with the development of new technologies such as EEStor–s capacitor and energy storage technology and readers are directed to the “Risk Factors” disclosed in the Company–s most recent Annual Information Form filed on SEDAR.
Forward-looking Statements
Certain statements and documents referred to in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties that face the Company. Risks and uncertainties that may face the Company include, but are not restricted to: the EEStor energy storage technology may not be successfully commercialized at all, in a manner providing the features and benefits expected while under development, or on a timely basis or the Company may not be able to successfully incorporate this technology into its current or proposed products; steps taken by the Company to protect its proprietary rights may not be adequate or third parties may infringe or misappropriate the Company–s proprietary rights; the Company has a history of losses from operations and may not be able to obtain financing to fund future expenditures for operations and general administrative activities, including sales and marketing and research and development, expansion, strategic acquisitions or investment opportunities or to respond to competitive pressures; competitors may develop products which offer greater benefits to consumers, have greater market appeal or are more competitively priced than those offered by the Company; the Company may be exposed to product liability claims which exceed insurance policy limits; the Company is dependent on the ability and experience of a relatively small number of key personnel; new products introduced by the Company may not be accepted in the market or to the extent projected; new laws and regulations may be enacted or existing ones may be applied or governmental action may be taken in a manner which could limit or curtail the production or sale of the Company–s products; and the Company may be negatively affected by reduced consumer spending due to the uncertainty of economic and geopolitical conditions. These risks and uncertainties may cause actual results to differ from information contained in this release, when estimates and assumptions have been used to measure and report results. There can be no assurance that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.
These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by applicable laws, the Company assumes no obligation to update forward-looking statements should circumstances or management–s estimates or opinions change. Readers are cautioned not to place undue reliance on any statements of forward looking information that speak only as of the date of this release. Additional information identifying risks and uncertainties relating to the Company–s business are contained under the heading “Risk Factors” in the Company–s most recently filed Annual Information Form and its other filings with the various Canadian securities regulators which are available online at .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
EEStor Corporation
Natasha Vandesluis
Chief Financial Officer
416-535-8395 ext. 220
You must be logged in to post a comment Login