ZENN Issues Statement on Strategic Partner EEStor's Press Release
TORONTO, ON – January 18, 2007 – ZENN Motor Company's (ZMC) future generation electric vehicles are one step closer to reality based upon information disclosed in a press release issued by EEStor, Inc. dated January 17, 2007. EEStor, Inc. disclosed that its production line has been proven to meet the requirements for precise chemical delivery, purity control, parameter control and stability. EEStor, Inc.'s press release further indicates that it has completed the milestone of certifying purification, concentration and stability of all of its key production chemicals, notably the attainment of 99.9994% purity of its barium nitrate powder, via a third-party.
"We are very pleased that EEStor has achieved this milestone and are looking forward to further progress in their development of the technology." said Ian Clifford, Chief Executive Officer. "While the complete battery technology has not yet been fully commercialized, should EEStor succeed in meeting their stated future deliverables, we believe it could have a significant impact on the electric vehicle industry."
Under its Technology Agreement with EEStor, Inc., ZMC holds the worldwide exclusive license for EEStor's batteries for small and medium-sized vehicles (up to 1,400 kgs curb weight). The Technology Agreement is in good standing.
"ZENN Motor Company continues to enhance and market its current Low Speed Electric Vehicle product using existing lead-acid battery technology. We have the expertise and capability to integrate EEStor technology into our existing and future vehicles should the EEStor batteries become available" says Mike Bergeron, VP of Engineering for ZENN Motor Company.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
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