TORONTO, ONTARIO -- (Marketwired) -- 06/27/13 -- This document corrects and replaces the news release that was sent on June 27th, 2013 at 9:15 a.m. ET. The date the testing was completed on has been amended to June 26, 2013. A complete and corrected version follows.
ZENN Motor Company Inc. (TSX VENTURE: ZNN) ("ZENN" or the "Company"), announced that EEStor, Inc, ("EEStor") released additional test data regarding its electrical energy storage unit. The additional information provided the dimensions of the layer previously tested on June 5, 2013. A representative of the Company was not present during this testing.
The testing completed on June 5, 2013 and June 26, 2013, is helpful in that it provides insights into EEStor's progress and achievements to date. Importantly, the EEStor press release also confirms that EEStor continues to work towards more comprehensive testing as required under the April 22, 2013 agreement entered into by the Company and EEStor. The Company intends to comment on results when the full testing and certification is done under the April 22 agreement. It is pleased to see that EEStor continues on the path towards more disclosure and the use of independent testing firms.
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.
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 Company Inc.
Chief Financial Officer
416-535-8395 ext. 220
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