EEStor announces permittivity results from chemicals used in energy storage unit
Shares of Zenn Motor Company (TSX: V.ZNN, Stock Forum) surged more than 60% to $5.55, as the developer of electric vehicles said after Wednesday’s market close that its energy storage partner, EEStor, Inc. has announced permittivity results of the manufacturing-grade chemicals to be used in their Electrical Energy Storage Unit.
Austin-based EEStor says that it has exceeded expectations on the key milestone of permittivity testing, attaining a relative permittivity of at least 22,500 for its Composition Modified Barium-Titanate Powders, the key material in their energy storage technology.
On the company’s Bullboard, Rawcolt explained: “This is the main substance that allows the electricity to be stored in large volumes without breaking down. This substance sounds interesting in that it little balls of barium titanate with an thin aluminum layer. Don't ask me why it is important, but it is[sic]”.
ZENN Motor Company says it is reviewing the results as it relates to its technology agreement with EEStor.
"The permittivity results as indicated are beyond the specifications outlined in our technology agreement which is extremely encouraging," stated Michael Bergeron, VP of Engineering, ZENN Motor Company. "We will review these results and expect to announce our findings as soon as they are available."
