It appears there is interest about EEStor on this forum, that is why I am updating this thread.
Zenn and EEStor finally agreed to an independent 3rd party tester, "Evans Capacitor" of Rhode Island. To make a long story short (this EEStor fraud has been going on for nearly a decade), Dick Weir, CEO of EEStor (chief alchemist) will not be able to make excuses for his scam. Since the start of this thread, there has been 3 independent test companies (System Engineering And Laboratories, Criteria Labs, and Tescom) allegedly performing tests on EEStor's layers at EEStor's facility in Cedar Park, Texas (see PR below). All the results of the tests were released by Dick Weir in a PR, not by the test company who witnessed the test. I predict by the end of this year, the EEStor fraud will be exposed...we will see who gets the last MUHAHHAHHHAAHHHAHHHAHAHH.
The following are all Zenn and EEStor press releases since the beginning of this thread, Jan. 30, 2013:
EEStor, Inc. shows preliminary results from Paraelectric Dielectric path
CEDAR PARK, Texas, Jan. 28, 2013 /PRNewswire/ -- EEStor, Inc. ("EEStor") is pleased to report the materials science context for their work and preliminary (pre-certification) results from energy storage layers built in its pilot production facility during early final tuning. The preliminary results show EEStor's patented and unique composition modified barium titanate (CMBT) powder delivers the benefits of solid-state energy storage when used as a fundamental constituent in a paraelectric dielectric.
On Dec. 28, 2012, EEStor's President Richard Weir hosted Dr. Rick Ulrich, Professor of Chemical Engineering at the University of Arkansas, for a review of and conversation regarding EEStor's work in pursuing a paraelectric dielectric path for high density energy storage applications. In particular Dr. Ulrich was provided access to data and materials related to EEStor's CMBT powder.
Dr. Ulrich made the following comments regarding his meeting and on the test data shown below:
"Dielectrics with the properties shown here would provide unprecedented amounts of capacitance per area. The possibility of obtaining ferroelectric-sized permittivities with the stability of a paraelectric material is very exciting. A dielectric with a permittivity of 1000 is considered high in current capacitor technology, so materials with the permittivities reported here would be an important breakthrough."
"Capacitor dielectrics that show very large permittivities tend to lose storage capacity as voltage increases. It's long been a goal of the dielectric community to solve this problem."
"Materials like this would find immediate applications in both signal and power electronics."
"While there is still work to do in order make these dielectrics suitable for powering electric cars, this level of power storage represents a significant advance in the art."
Preliminary EEStor results and next steps
In prior press releases, EEStor has indicated certain tuning results where EEStor had combined some, but not all, of the constituents of its dielectric to show performance control of some of the parameters that would be required in completed commercial energy storage layers. Engineering tuning work provides the blending, mixing and curing data necessary to optimize finished layer construction where all constituents are combined. EEStor entered the final phase of tuning optimization of commercial layers that include all necessary and desired constituents in the fourth quarter of 2012. Preliminary results of one such production run were recently retested and verified by personnel from System Engineering and Laboratories ("SEAL"), a professional engineering organization headquartered in Tyler, Texas with the following results:
Manufacture Date of tested layers was Nov. 27, 2012. SEAL have verified the following parameters:
Layer
Capacitance measured and verified at 100 Hz & Applied V
(uF)
Dissipation Factor (%)
Leakage current (mA) @ Applied V
Layer dielectric thickness (microns)
Area of layer -
10^-6 M^2
Permittivity (k)
Maximum applied voltage (volts)
Energy density of dielectric layer only (w.h/L)
A
.74
23.9
.0007
77.9
40.13
162,291
1500
73.90
B
.29
11.2
.0003
62.6
40.13
51,093
1500
36.1
C
.022
4.5
.0002
88.8
40.13
5498
1000
.86
D
.021
4.5
.0002
60.9
40.13
3599
1000
1.19
Testing equipment used included:
QuadTech 1715 LCR Digibridge LCR, Keyence GT2-212K, Yokogawa WT3000, Stanford Research PS350/5000B-24W
These data are not the best results achieved by EEStor in any category but are shown to indicate that the benefits of the paraelectric dielectric path are being delivered through EEStor engineering processes and in a pilot production line facility. The samples were chosen to show results with low leakage, some for permittivity. Most importantly, as applied voltage was increased across the samples, there was no detectable degradation of layer capacitance or relative permittivity (i.e.; polarization saturation), thus exhibiting fundamental evidence of paraelectric behavior of the manufactured layers. Breakdown voltages of the samples are not shown.
Next steps for EEStor after final tuning the performance of the dielectric material will be certification of pre-production sample layers produced by the pilot production line. Layers will then be available for purchase by qualified commercial buyers for their independent testing purposes. After layer certification, EEStor, Inc. will work in conjunction with commercial partners to customize and improve throughput of the continuous pilot production facility specific to the needs of customers.
This press release contains "forward-looking statements," including statements related to product plans, product functionality and production plans. These statements 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 current development and production goals. EEStor's actual results may differ materially from the expected results 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. EEStor does 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. Dr. Ulrich was not paid by EEStor for the quotes used in this release.
SOURCE EEStor, Inc.
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ZENN Motor Company Announces Agreement With EEStor for Testing
TORONTO, ONTARIO--(Marketwired - April 24, 2013) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company"), reported today that it has entered into an agreement with EEStor, Inc. of Cedar Park, Texas ("EEStor") providing for the testing of recently produced layers of its electrical energy storage units by an independent testing laboratory that has been selected upon consultation between EEStor and ZENN.
Under the agreement, testing is to be completed and reported on by May 27, 2013. Testing will include capacitance over a range of voltages as well as dissipation factor, layer thickness, dielectric layer thickness, resistance, capacitor area, energy density and leakage current. ZENN will be provided full access to the independent testing experts as well as the certification report.
As part of the agreement, ZENN has agreed to invest an initial US$50,000 in common stock of EEStor and an additional US$100,000 in its discretion if it is satisfied with the results of the independent testing.
==================
ZENN Motor Company Announces Revised Testing Date
TORONTO, ONTARIO--(Marketwired - May 21, 2013) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company"), announced that the testing by an independent laboratory of layers of electrical energy storage units produced by EEStor, Inc. has been delayed due to scheduling issues and will be conducted on May 30, 2013. The report of the testing laboratory is expected to be released shortly afterwards.
==================
ZENN Motor Company Reports 2013 Second Quarter Results and Testing Update
TORONTO, ONTARIO--(Marketwired - May 30, 2013) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company"), today announced its unaudited financial results for the three and six months ended March 31, 2013. All amounts are expressed in Canadian dollars.
Financial Results
In the three and six months ended March 31, 2013, net losses from continuing operations were $448,981 and 769,298, respectively, or $0.01 and $0.02, respectively, per share. For the corresponding three and six periods in the prior year, net losses from continuing operations were $347,500 and $713,290, respectively, or $0.01 and $0.02, respectively, per share.
At March 31, 2013, the Company had working capital of $956,006 and cash, including cash, cash equivalents and short-term investments, totaling $1,185,376, compared to working capital of $1,675,361 and cash of $1,937,592, respectively, at September 30, 2012.
Testing Update
ZENN also reported that the testing laboratory has commenced preparation for testing of EESU layers produced by EEStor, Inc. Initial work by the laboratory involves calibration and verification of testing equipment. EEStor has reported that in producing layers for the testing, it encountered, at high voltages, an anomaly that may be related to ambient humidity. ZENN has been advised by its consultant that this is not an uncommon occurrence with high performance layers. EEStor has advised that it believes it is addressing the issue by using established procedures. Accordingly, it will conduct the tests in stages. Initial tests will focus on resistance and capacitance of its new polymer as well as the permittivity over voltage characteristics of the proprietary CMBT produced by EEStor. Reports from the initial phase of the testing are expected in the next week with further reports to follow as more detailed testing is undertaken and as the hydrology issue is addressed.
============
EEstor, Inc. is Announcing the Certification of Our New Layer Material and Voltage vs. Capacitance
PR Newswire
CEDAR PARK, Texas, June 6, 2013
CEDAR PARK, Texas, June 6, 2013 /PRNewswire/ -- EEStor, Inc. is announcing that we have completed our initial certification of our new layer material and the voltage vs. capacitance of our composition-modified barium titanate (CMBT) powders. The data was certified by Criteria Labs which is located in Austin, Texas. The certification data is indicated below:
CAPACITANCE VS APPLIED DC VOLTAGE
PET CMBT Composite Capacitor Measurements
Sample #239-A
DC Voltage Applied
Capacitance
To Capacitor
0.0 VDC
0.11 nF
100 VDC
0.148 nF
200 VDC
0.134 nF
300 VDC
0.134 nF
400 VDC
0.134 nF
500 VDC
0.134 nF
LCR settings: 100 Hz Frequency, 1.0 V RMS
TEST EQUIPMENT LIST:
Manufacturer
Model
Serial Number
Description
• QuadTech
1714 LCR Meter
AAQ17140350
LCR Meter
• STD Research System
SRS350
11567
HV Power Supply
• Fluke
175 Multimeter
90940148
Multimeter
• Capacitance Board
DC Volt Blocking LCR
interface CKT
• Fluke
80K-15 High Voltage Probe
HV Probe
CAPACITANCE INSULATION RESISTANCE – NEW LAYER MATERIAL
The average for the reading on the four layers is as follows:
Capacitance Average:
0.22 micro farads
Insulation Resistance Average
10.65 mega ohms
TEST EQUIPMENT USED
Manufacturer
Model
Description
Alph Lab
HR2
High Resistance Meter with Faraday Cage
The test data indicates that the EEStor, Inc. new layer material has the capability to provide high capacitance along with high insulation resistance. EEStor, Inc. will now be tailoring this new layer material for increase capacitance and resistance up to full product certification.
The data also indicated the stability of the CMBT powders/composite layer to capacitance vs. voltage. This indicates that advantage of our CMBT powders being in the paraelectric phase where for all practical purposes dielectric saturation does not exist.
SOURCE EEStor, Inc.
Read more:
http://www.digitaljournal.com/pr/1291826#ixzz2Va8XrtK1
====================
ZENN Motor Company Comments on EEStor Technology Update
TORONTO, ONTARIO--(Marketwired - June 6, 2013) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company"), announced that EEStor, Inc has today issued a press release regarding the testing by Criteria Labs, an independent laboratory, of layers of electrical energy storage units produced by EEStor, Inc. A senior officer of ZENN and its consultant, John Galvagni attended at the testing in Texas on Wednesday June 5, 2013. ZENN today has been provided with a summary of the report, but is waiting for further details from the testing laboratory and the report of Mr. Galvagni. It will provide further comment once it has had an opportunity to analyze the information.
============
EEStor Provides Additional Test Data Following June 5, 2013 Testing And Update On Current Status
CEDAR PARK, Texas, June 26, 2013 /PRNewswire/ -- On June 5, 2013 EEStor, Inc. had Criteria Labs certify certain aspects of a current layer of its electrical energy storage unit (EESU) that had been produced on April 29, 2013 using new materials that provided both high capacitance and high resistance simultaneously. The capacitance and resistance of this new layer material are expected to be increased using EEStor, Inc. proven proprietary processing equipment and processes.
The following data from new layer material was certified by Criteria Labs on June 5, 2013:
Average capacitance of the four layers = 0.22 micro farads
Average Resistance of the four layers = 10.7 mega ohms
Subsequently, on June 26, 2013 EEStor, Inc. had the area and thickness of the new material layer certified by TesCom at EEStor, Inc. using TesCom calibrated EEStor, Inc. equipment. TesCom was called in to certify these results due to scheduling issues with Criteria Labs. Subsequent testing will be conducted by Criteria Labs. The equipment used to measure the area and thickness was certified by TesCom, a calibration company which was selected by Criteria for the certification of the equipment used in their June 5, 2013 certification process.
The following data from new layer material was certified by TesCom:
Average thickness of the four layers = 25.1 microns
The area of each of the four layers = 0.403 centimeters squared
The average volume of the four layers = 0.00101 centimeters cubed
Using the certified capacitance, area, thickness, and volume the following relative permittivity was calculated:
The average relative permittivity of the four layers = 15,476
EEStor believes that relative permittivity of 15,476 and an insulation resistance of 10.7 mega ohms of this initial new material test layer represents a major breakthrough in EEStor, Inc. new dielectric materials. By comparison, a 0.22 micro farad 100 V capacitor manufactured by EPCOS has a volume of 0.216 cubic centimeters or 214 times bigger than EEStor's equivalent capacitance. Capacitance is directly proportional to energy storage and this high capacitance volume also indicates the ability of EEStor, Inc. to potentially exceed its energy storage operating targets.
CURRENT DEVELOPMENT
EEStor has now successfully enhanced the new dielectric layer of its EESU and initial internal results indicate the following:
Capacitance vs. voltage has been increased
Layer resistance has been increased
Capacitance has been increased
Constituent tuning has been improved which allows the potential for continued success in product development
NEXT STEPS
As soon as EEStor reaches its optimal constituent tuning of its latest layers it will complete the testing and certification with Criteria Labs. The tests and certification of these samples will include:
energy density
dissipation factor
resistance
capacitor area
total layer thickness
leakage current at multiple voltages including voltages over 1000V
dielectric layer thickness
CAUTIONARY STATEMENT
This press release contains "forward-looking statements," including statements related to expected increases in capacitance and resistance of the new layer, permittivity representing a major breakthrough, EEStor potentially exceeding its energy storage operating targets, and potential for continued success in product development. These statements 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 current development and production goals. EEStor's actual results may differ materially from the expected results 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. EEStor does 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.
SOURCE EEStor, Inc.
===================
ZENN Motor Company Announces Agreement to Acquire Series A EEStor Shares
TORONTO, ONTARIO--(Marketwired - Aug. 7, 2013) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company"), announced today that it has entered into an agreement to acquire additional shares of privately held EEStor, Inc. ("EEStor") of Cedar Park, Texas. Under the agreement, ZENN has agreed to purchase 502,344 shares of Series A Preferred Stock (the "Series A Shares") of EEStor and certain rights associated with the ownership of such shares from KPCB Holdings Inc., as nominee, 2004 Topfer Gifting Trust and Longshot Holdings, L.P. The aggregate purchase price for the Series A Shares is US$2.0 million in cash and the issuance of 3.0 million shares of ZENN common stock. The transaction is expected to be completed within 60 days, subject to the satisfaction of a number of conditions, including the completion by ZENN of equity financing to fund the cash portion of the purchase price and approval of the TSX Venture Exchange.
ZENN intends to raise up to $3.5 million through a non-brokered private placement of equity securities to fund the purchase and for general corporate purposes.
The Series A Shares have a number of associated rights including representation on EEStor's board of directors, voting rights on an as-converted basis, rights of first refusal and co-sale rights, protection in the event of liquidation and are convertible into shares of common stock of EEStor. The Series A Shares represent approximately 99.08% of the outstanding Series A Shares and approximately 30% of the outstanding equity and voting shares of EEStor on an as-converted basis. ZENN also holds 179,000 shares of common stock of EEStor representing approximately 11% of the outstanding shares of EEStor common stock. Assuming the Series A Shares are acquired and converted and no other shares of EEStor are issued, ZENN would hold approximately 41% of the outstanding equity and voting shares of EEStor.
Jim Kofman, Chairman and Chief Executive Officer of ZENN commented, "This purchase represents a unique opportunity for ZENN to build on its partnership with EEStor and to increase its investment in EEStor. ZENN is committed to providing the necessary resources and assistance to EEStor over the long term to help its technologies progress." Roger Hammock, ZENN's Executive Vice-President, EEStor Relations added, "For ZENN, the transaction is transformational in that it dramatically increases ZENN's connection to all of EEStor's opportunities and fully aligns the businesses of both companies. The Series A Shares provide ZENN increased visibility into and participation with EEStor. Over the past year it has become clear that traditional capacitor markets represent an attractive market that might be more rapidly addressed with EEStor's technology. With an increased stake in EEStor, ZENN is better positioned to participate in all potential markets."
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.
Information contained in this release relating to EEStor, Inc. or the energy storage technology being developed by EEStor has not been reviewed by EEStor and EEStor does not assume any responsibility for the accuracy or completeness of such information.
Unless otherwise indicated, public disclosures by EEStor of developments in the commercialization of its energy storage technology have not been independently verified by ZENN. 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.
===================
EEStor provides positive comments on Zenn Motor Company's August 7th 2013 announcement to purchase KPCB's Series A ownership deal
CEDAR PARK, Texas, Aug. 12, 2013 /PRNewswire/ -- EEStor Inc. ("EEStor") Announced today they were notified by the Zenn Motor Company's board on August 7, 2013 that a deal to purchase KPCB's "Series A" investment in EEStor was being announced on August 8, 2013. EEStor provided a positive response and feels this is an opportunity for both companies moving forward.
===================
EEStor, Inc. is pleased to announce the sale of their developed product samples to a private investor group
CEDAR PARK, Texas, Sept. 23, 2013 /PRNewswire/ -- EEStor, Inc. is pleased to announce the sale of their developed product samples to a private investor group. This group has followed EEStor's progress with day-to-day direct communications and invested in the technology development. As such they are interested to confirm certain performance statistics gleaned from EEStor, Inc. particularly as it relates to energy storage.
EEStor is particularly pleased with this sale. It is now the second sale of samples, the first being to a potential customer with particularly positive results as it relates to capacitors and energy storage. Furthermore, EEStor is now in discussions with multiple new potential customers for initial product level demonstrations.
CAUTIONARY STATEMENT
This press release contains "forward-looking statements," including statements related to potential new customer and investments. These statements 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 current development and production goals. EEStor's actual results may differ materially from the expected results 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. EEStor does 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.
Dick Weir
President & CEO
SOURCE EEStor, Inc.
======================
ZENN Motor Company Provides Update
TORONTO, ONTARIO--(Marketwired - Oct. 2, 2013) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company") announced today that testing of layers produced by EEstor, Inc. ("EEstor") of Cedar Park, Texas has been conducted by an independent third party and a representative of ZENN was an observer during such testing. ZENN has now received the report from the independent tester and is working to clarify and confirm the information in the report and intends to issue a further press release when this analysis and verification process has been completed.
Under the agreement previously announced on August 7, 2013, ZENN has agreed to purchase 502,344 shares of Series A Preferred Stock of EEStor and certain rights associated with the ownership of such shares in consideration for cash and shares of ZENN. Among other things, the transaction is subject to the completion by ZENN of equity financing to fund the cash portion of the purchase price. ZENN has provided notice to the vendors under such agreement that it is exercising its right to extend the closing date by up to 30 days to allow for completion of the necessary financing. In light of the expected release of testing results, the additional time should allow for updated information to be provided to the market.
ZENN also announced that it has applied to the TSX Venture Exchange for the extension of the expiry date of 2,350,000 warrants issued to investors in connection with its April 13, 2012 private placement financing. The warrants are exercisable at $1.35 and are to expire on October 13, 2013. ZENN proposes to extend such expiry date to October 31, 2013 to allow for testing reports to be communicated and for the possible use of any proceeds from the exercise of warrants to be used as part of the acquisition financing referred to above. The extension of the warrants is subject to TSX Venture Exchange approval.
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.
Information contained in this release relating to EEStor, Inc. or the energy storage technology being developed by EEStor has not been reviewed by EEStor and EEStor does not assume any responsibility for the accuracy or completeness of such information.
Unless otherwise indicated, public disclosures by EEStor of developments in the commercialization of its energy storage technology have not been independently verified by ZENN. 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
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 extends expiry date of warrants
2013-10-07 18:46 ET - Halt Trading
The TSX Venture Exchange has consented to the extension in the expiry date of the following warrants of Zenn Motor Company Inc.:
Private placement:
Number of warrants: 2.35 million
Original expiry date of warrants: Oct. 13, 2013
New expiry date of warrants: Oct. 31, 2013
Exercise price of warrants: $1.35
These warrants were issued pursuant to a private placement of 2.35 million shares with 2.35 million share purchase warrants attached, which was accepted for filing by the exchange effective April 19, 2012.
======================
EEStor, Inc. has received multiple certifications results from TesCom Calibration Services of Austin, Texas
CEDAR PARK, Texas, Oct. 16, 2013 /PRNewswire/ -- EEStor, Inc. has received multiple certifications results from TesCom Calibration Services of Austin, Texas. TesCom performed certification on the EEStor testing equipment and calibrated to ANSI specifications. Additionally, TesCom certified EEStor layers on September 27, 2013 and October 11, 2013. The data certified on the October 11, 2013 TesCom report indicates the progress EEStor has achieved in obtaining energy storage of 917.6 micro Watt-hours which converts to 351 Watt-hours/liter. This represents an improvement of 65 Watt-hours/liter from the September 27, 2013 TesCom layer certification report. The high resistances 76 Giga Ohms that is indicated in the TesCom September 27, 2013test report indicate EEStor ability to produce layers that can provide product level energy discharge rates. This TesCom report also provides data on EEStor's layers increasing in energy storage as the frequency is lowered to dc (79 Nano Farads at 100 Hz to 19.4 Micro Farads at 6 Hz). This represents the technical advantage that EEStor has developed in the composite composition used for the dielectric layers which will assist in providing EESU's for multiple high dollar volume business segments. The short time between the certification reports also indicate the progress that EEStor is making in producing product level electrical energy storage units (EESU).
======================
ZENN Motor Company Provides Further Update on Testing
TORONTO, ONTARIO--(Marketwired - Oct. 17, 2013) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company"), announced today an update regarding testing of layers produced by EEStor, Inc. ("EEStor") of Cedar Park, Texas. As previously disclosed testing of layers was conducted by third party experts retained by EEStor and a representative of ZENN was an observer during such testing. ZENN received the formal report from the independent tester and has been working to clarify and confirm the information in the report. ZENN was able to purchase from EEStor a few samples in order to conduct its own testing of layers. The layers purchased were manufactured on March 25, 2013 and on September 24, 2013. The layers provided to ZENN were different than the layers tested by EEStor, but were of a similar vintage to two of three layers tested. ZENN has also recently provided a modest amount of financial assistance to EEStor as it has been informed by EEStor of its challenging financial position.
ZENN asked its consultant to oversee testing at two different facilities and engaged an experienced testing expert to assist him in some of the tests. In the testing of the layers it purchased, ZENN has to date not been able to confirm similar results to those reported by EEStor's testing company on the EEStor tested layers. ZENN is taking steps to try to understand issues relating to testing and results however, the testing is very complex and there are many variables that could impact results. Although every effort is being made to do so, this process may not be completed expeditiously. The ability to produce verifiable information is critical to the path forward for ZENN.
So that the complete information is publicly available, ZENN has posted a copy of the full EEStor testing company report on its website atwww.zenncars.com. ZENN has not validated or confirmed these results and caution should be exercised in placing any reliance on the test results and no inference should be made from the posting of the testing results.
======================
ZENN Motor Company and EEStor Announce Investor and Analyst Visit and Testing Plan
TORONTO, ONTARIO and CEDAR PARK, TEXAS--(Marketwired - Oct. 18, 2013) - 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.
======================
ZENN and EEStor Announce Evans Capacitor Company to Assist in Independent Testing
TORONTO, ONTARIO and CEDAR PARK, TEXAS--(Marketwired - Oct. 29, 2013) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN") and EEStor, Inc. ("EEStor") announced today that Evans Capacitor Company of East Providence, Rhode Island ("Evans Capacitor") has agreed to assist both companies in developing testing protocols and to conduct independent testing of the EESU layers manufactured by EEStor and report on its comprehensive testing results. Evans Capacitor will have full access to EEStor facilities and personnel as well as EEStor's newly produced layers. There is significant complexity in the technology and the development of testing protocols. EEStor and ZENN understand that the use of independent third party experts to verify performance data and information is critical to the development of the EESUs. At this point, there is no specific timeline for an initial independent test report from Evans Capacitor.
As publicly reported by Evans Capacitor, it is an International Traffic in Arms Regulations (ITAR) registered company, supplying mission critical components to major defense and aerospace companies in the USA. Evans Capacitor manufactures high energy density capacitors for demanding defense and aerospace applications. Typical Evans Capacitor applications replace standard military capacitors, or augment batteries and power supplies where size, weight, reliability and quality are important factors of component selection. Evans Capacitor is ISO 9001 and AS9001 registered.
======================
ZENN Motor Company Announces Extension for EEStor Share Purchase
TORONTO, ONTARIO--(Marketwired - Oct. 30, 2013) - Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company") announced today that it has requested and received an extension from the vendors until December 31, 2013 for the completion of the Company's proposed purchase of 502,344 shares of Series A Preferred Stock of EEStor, Inc. and associated rights. The transaction remains subject to a number of conditions, including ZENN's completion of equity financing to fund the cash portion of the purchase price.
ZENN also announced that it has applied to the TSX Venture Exchange for the further extension of the expiry date of 2,350,000 warrants issued to investors in connection with its April 13, 2012 private placement financing. The warrants are exercisable at $1.35 and, as a result of a recent extension, are to expire on October 31, 2013. ZENN proposes to extend such expiry date to December 10, 2013. The extension of the warrants is subject to TSX Venture Exchange approval.
======================
ZENN Motor Company Announces Private Placement
TORONTO, ONTARIO--(Marketwired - Oct. 31, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company") announced today plans to raise a minimum of Cdn$3.0 million and a maximum of Cdn$5.0 million in a non-brokered private placement. ZENN is proposing to offer a minimum of 3,000,000 and a maximum of 5,000,000 units at a price of $1.00 per unit, with each unit consisting of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to acquire one common share at a price of $1.50 for a period of 18 months from the closing date of the offering.
Industrial Alliance Securities Inc. will act as a finder for qualified institutional investors. ZENN proposes to pay a finder's fee to Industrial Alliance Securities Inc. and other registered dealers that introduce subscribers for units that are accepted, equal to 6.0% of the subscription price, payable in cash, plus 6.0% finder's warrants having the same terms as the warrants issued to subscribers under the offering. The private placement is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a 4-month hold period.
ZENN proposes to use the net proceeds from the offering to satisfy the US$2.0 million cash portion of the purchase price for the previously announced proposed purchase of Series A Preferred Stock of EEStor, Inc. and associated rights, with the balance for working capital and general corporate purposes.
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Zenn Motor extends expiry date of warrants
2013-10-31 19:14 ET - Miscellaneous
Further to the TSX Venture Exchange bulletin dated Oct. 7, 2013, the exchange has consented to a further extension to the expiry date of the following warrants of Zenn Motor Company Inc.:
Private placement:=
Number of warrants: 2.35 million
Original expiry date of warrants: Oct. 13, 2013
New expiry date of warrants: Dec. 10, 2013
Exercise price of warrants: $1.35
These warrants were issued pursuant to a private placement of 2.35 million shares with 2.35 million share purchase warrants attached, which was accepted for filing by the exchange effective April 19, 2012.
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ZENN Motor Company Announces Timing for Completion of Private Placement
TORONTO, ONTARIO--(Marketwired - Oct. 31, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company") is pleased to announce that registered dealers, acting as finders for the Company's previously announced non-brokered private placement, have advised the Company that they have received client orders in excess of the Company's Cdn$3.0 million minimum for the offering. These client orders are non-binding and are subject to the execution of subscription agreements between the Company and the subscribers, which are in the process of being circulated. Based on interest received, it is now expected that the offering will be completed on or about November 12, 2013. The private placement remains subject to approval of the TSX Venture Exchange.
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Evans Capacitor Company to do testing for ZENN and EEStor Written by CE Staff November, 04 2013
TORONTO, ONTARIO and CEDAR PARK, TEXAS – Evans Capacitor Company has agreed to assist ZENN Motor Company Inc. and EEStor in developing testing protocols.
Evans will also conduct independent testing of the EESU layers manufactured by EEStor and report on its comprehensive testing results. Evans Capacitor will have full access to EEStor facilities and personnel as well as EEStor's newly produced layers. There is significant complexity in the technology and the development of testing protocols. EEStor and ZENN understand that the use of independent third party experts to verify performance data and information is critical to the development of the EESUs. At this point, there is no specific timeline for an initial independent test report from Evans Capacitor.
As publicly reported by Evans Capacitor, it is an International Traffic in Arms Regulations (ITAR) registered company, supplying mission critical components to major defense and aerospace companies in the USA. Evans Capacitor manufactures high energy density capacitors for demanding defense and aerospace applications. Typical Evans Capacitor applications replace standard military capacitors, or augment batteries and power supplies where size, weight, reliability and quality are important factors of component selection. Evans Capacitor is ISO 9001 and AS9001 registered.