Zenn buys into ultra capacitor company EEStor
ZENN Motor Company has paid $2.5 million for a 3.8 percent equity stake in ultra capacitor developer EEStor. The deal means that ZENN gets an exclusive deal for EEStor's batteries for small and medium sized vehicles. EEStor is going to use the money to fund the next stage of testing of their capacitors by an independent third party lab. If the capacitors meet the requirements laid out in the equity agreement, then ZENN will have the option to invest another $5 million dollars under the same terms as the initial investment. Related:
[Source: ZENN Motor Company]
Reader Comments (Page 1 of 1)
pkuhl 1:50PM (5/02/2007)
As I recall, the Eestor capacitors are still very limited in performance for size, weight, capacity etc. This is too bad because if they could compete with lithium ion batteries, then the world would change.
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Chris M 4:13PM (5/02/2007)
Nobody outside of EEStore has seen a single capacitor from them, so it must be classified as vaporware. There is a lot of skepticism about their claims, especially with lack of proof.
I'd also question how "independent" the test lab will be, when millions of dollars are involved.
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Joseph 2:53PM (5/04/2007)
If ZENN payed $2.5 million to be able to use their batteries in the future, then they must have something.
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