December 17, 2014
ZENN Motor Company Inc. (TSXV: ZNN; “ZENN” or the “Company”), today announced the findings of four independent reports on the testing of the capacitor technology developed by its 71.3% owned subsidiary, EEStor Inc. (EEStor”)
The report s are available for viewing at www.zenncars.com or at www.eestor.us
These materials are also available for viewing at www.sedar.com
Key highlights and findings of the Intertek report include:
1. Capacitance remains constant across multiple voltages and frequencies
2. A sampling of commercially available Aluminum Electrolytic capacitors hi-pot tested to approximately 32% above rated voltage, whereas EEStor parts in the same voltage range tested to
approximately 112% above the rated layer voltage
3. Leakage current is better than tested commercially available Aluminium Electrolytic (A E) capacitors
4. EEStor capacitors are non-polar and show the same capacitance or resistance regardless of
5. All EEStor samples were charged in milliseconds without any noted degradation of performance.
6. As the comparative data illustrates, the cumulative effects of the layered EEStor part appear to be well beyond the simple additive values.
7. The layered EEStor part is injection molded in polypropylene to ensure a full hermetic seal.
8. The resistance and capacitance levels of the dried high voltage parts indicate exceptional performance and provide for additional volumetric efficiencies over parts compromised by humidity.
10. The EEStor capacitor technology is significantly smaller than incumbent technology with similar performance characteristics.
11. Hi-pot testing indicated up to the following volts per micron capacities of the EEStor parts at
pot value of 930VDC/thickness of part tested (13 microns) = volts per
micron of: 71VDC
450VDC: Hi-pot value of 1130VDC/thickness of part tested (14 microns) = volts per micron of: 81VDC
700VDC: Hi-pot value of 1360VDC/thickness of part tested (18 microns) = volts per micron of: 76VDC
1000VDC: Hi-pot value of 1890VDC/thickness of part tested (22 microns) = volts per micron of: 86VDC
1500VDC: Hi-pot value of 2440VDC/thickness of part tested (29 microns) = volts per micron of: 84VDC
Ian Clifford, Founder and CEO of ZENN and the President and CEO of EEStor stated:
“The independent testing by Intertek represents an important validation of the potential of EEStor’s technology for capacitor applications and confirms internal testing results achieved by EEStor
The Company and its stakeholders will benefit from the comprehensive protocols and procedures developed by Intertek at its facility in Dallas, Texas to ensure that the test results are complete and accurate.
The work took several months to complete, and now allows the Company to begin to pursue commercial partnerships based on the independent data and comparative testing against existing
Mr. Dennis Zogbi, CEO and Founder of Paumanok Publications, Inc. (“Paumanok”) brings over 25 years of in-depth capacitor industry knowledge as a leading consultant with major global capacitor companies.
As a result of the positive Intertek testing, the parties intend to continue working together to identify and develop strategic relationships in the capacitor industry.”
Key highlights of the Paumanok Report include:
The current status of EEStor’s technology indicates that the initial commercial targets, in order of
priority, should be:
High Voltage Aluminum Electrolytic and Tantalum capacitors (combined total worldwide 2014 market of USD $6 billion)
The power film capacitor segment (combined total worldwide 2014 market of USD $1.3 billion)
The direct sale of the composition modified barium titanate powders manufactured at EEStor to capacitor manufacturer customers worldwide (total 2014 worldwide market of USD $83 million)
The report from Paumanok, which relies on the results obtained by Intertek and its report, concludes that “the unique combination of both high capacitance and high voltage characteristics evident in the EEStor capacitor layers are unique and should be considered particularly disruptive to the $6 billion electrolytic segment of the worldwide capacitor industry today.”
In addition, the Paumanok report states that “the Intertek report emphasized the superior performance of the EEStor capacitor layers when compared to that of traditional aluminum electrolytic capacitors. The added fact that the EEStor technology has an inherently lower cost structure when compared to aluminum capacitors makes the EEStor technology particularly disruptive to the global aluminum capacitor establishment.
Paumanok recommends that the electrochemical capacitor segment should be targeted with emphasis upon segments of the market where the profitability is highest.
Stewart Somers, Chair of the ZENN and EEStor Boards of Directors concluded: “Since May 19 th 2014, when I an Clifford was reappointed as the CEO of ZENN and appointed as President and CEO of EEStor, our singular focus has been to place both organizations on a congruent path towards the commercialization of products based on credible and verifiable results of our market leading technologies
Ian will now lead the companies in expanding external commercial discussions with capacitor industry partners while EEStor completes plans for a high volume injection molding prototyping system. We will also add to the team in our Cedar Park operation, advanced polymer engineering expertise and related industry experience in order to further develop our platform technologies into other energy markets.”
About ZENN Motor Company Inc.
ZENN's mission is to be the provider of leading edge energy storage solutions and related 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 focussed on licensing and partnership opportunities across a broad spectrum of
industries and applications building on its recent technology achievements in the capacitor industry
The Company holds an approximate 71.3% equity and voting interest and certain technology rights to a solid-state capacitor and related energy storage technologies currently under development by EEStor, Inc. (“EEStor”). The acquisition of the controlling interest in EEStor aligns the businesses of both companies and now allows ZENN 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 ZENN’s most recent Annual Information Form filed on SEDAR.