Thursday, April 23, 2009

Zenn Motor Update (ZNN), EEstor Announces Results

I commented about Zenn Motor back in June 27 2008. The stock is 46% up today on news associated to EEstor. The stock is now slightly higher than what it was in June, but the post was before the stock market collapse. Stock is up +100% since April 16.

"These cars may soon (calendar year 2008 according to its CEO on a recent BNN interview) be powered by a new type of battery, one that can be recharged in minutes and allow 400Km of travel in one charge, and whose batteries are significantly lighter too (10% of the traditional lead battery weight)."

I also mentioned that "In the next several weeks, a privately-held and ultra-secretive company named EEStor Inc. will release the results of independent third-party testing of its electrical energy storage". EEstor has announced some results that are very good.

Here is news from MarketWire:

"Apr 22, 2009 18:00 ETZENN Motor Company's Strategic Partner, EEStor, Inc., Announces Permittivity Results
TORONTO, ONTARIO--(Marketwire - April 22, 2009) - ZENN Motor Company ("ZMC") (TSX VENTURE:ZNN) a leading developer of zero emission transportation solutions, is pleased to confirm that its energy storage partner, EEStor, Inc., issued a press release today announcing permittivity results of the manufacturing-grade chemicals to be used in their Electrical Energy Storage Unit (EESU).

Austin-based EEStor, Inc. disclosed that it has exceeded expectations on the key milestone of permittivity testing, notably the attainment of a relative permittivity of at least 22,500 for its patented and patent-pending Composition Modified Barium-Titanate Powders, the key material in their energy storage technology. ZENN Motor Company is currently reviewing the results as it relates to its Technology Agreement with EEStor.

"The permittivity results as indicated are beyond the specifications outlined in our technology agreement which is extremely encouraging," stated Michael Bergeron, VP of Engineering, ZENN Motor Company. "We will review these results and expect to announce our findings as soon as they are available."

"EEStor's announcement reveals continued progress in developing their Electrical Energy Storage Unit," said Ian Clifford, Chief Executive Officer of ZENN Motor Company. "We remain focused on fulfilling our cityZENN and ZENNergyTM drivetrain programs, the first implementations of EEStor's EESU."

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