Press release from Marketwire
ZENN Motor Company Comments on EEStor Technology Update
Thursday, June 06, 2013
ZENN Motor Company Comments on EEStor Technology Update23:39 EDT Thursday, June 06, 2013
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.
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. The Company also holds an equity interest in EEStor, Inc.
EEStor's electrical energy storage units ("EESU") which are under development have the potential to enable OEM and Tier 1 partners to deliver advanced electric transportation solutions to their customers. The Company's Technology Agreement with EEStor provides certain exclusive rights to purchase and deploy EEStor's EESU technology which has been filed and is available for viewing on SEDAR at www.sedar.com.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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.Contact Information:
ZENN Motor Company Inc.
Chief Financial Officer
416-535-8395 ext. 220