|By Marketwired .||
|October 18, 2013 04:24 PM EDT||
TORONTO, ONTARIO and CEDAR PARK, TEXAS -- (Marketwired) -- 10/18/13 -- ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company") and EEStor, Inc. ("EEStor") jointly hosted an analyst and investor visit today at the EEStor facilities in Cedar Park, Texas. Visitors were provided with a full briefing by EEStor on the EEStor business plan, technology, production processes and toured the EEStor plant. Demonstration tests of EESU layers were done to show EEStor's methodology of testing high resistance layers, of testing capacitance over various frequencies and measuring watt hours over voltage. Visitors were able to observe continued progress in the development of layers.
ZENN and EEStor also agreed today to engage a major qualified firm, in addition to the qualified firms they have been working with, to assist both companies in developing testing protocols and to conduct and report on comprehensive testing of the EESU layers. Testers will have full access to EEStor facilities as well as newly produced layers.
Both EEStor and ZENN are, and have been, committed to providing detailed information regarding testing to ensure reliability and accuracy of test reports. There is significant complexity in the technology and the testing protocols and the companies are developing a plan using third parties that will allow for third party confirmation of testing results.
About ZENN Motor Company Inc.
The Company's goal is to be the provider of leading edge power storage solutions and related technologies to the transportation industry. Technologies and solutions, powered by EEStor's electrical energy storage units (EESU) have the potential to enable OEM and Tier 1 partners to deliver advanced electric transportation solutions to their customers.
EEStor's energy storage technology is still under development and a number of further development milestones must be achieved before commercial viability can be established. There are significant risks associated with the development of new technologies such as EEStor's energy storage technology and readers are directed to the "Risk Factors" disclosed in ZENN's most recent Annual Information Form filed on SEDAR
About EEStor, Inc.
Headquartered in Cedar Park, Texas, EEStor, Inc. is dedicated to the design, development, and manufacture of high density energy storage devices. Utilizing revolutionary ultra-capacitor architecture and environmentally friendly materials, the EEStor technology will compete against existing battery technologies.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. Statements in this release related to the potential commercialization of the EEStor technology are subject to a number of risks and uncertainties, including the risk of development or production delays, the risk that the technology or devices may not perform as expected, component or raw materials delays or shortages, the ability to effectively manage operating expenses and manufacturing operations and the ability to maintain or raise sufficient capital to fund development and production goals. Actual results may differ materially from those expected in this release. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made. ZENN and EEStor do not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this press release, or to reflect the occurrence of unanticipated events.
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.
ZENN Motor Company Inc.
Chief Financial Officer
416-535-8395 ext. 220