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31st March 2008

At a shareholders meeting on 28th March, the Canadian electric car developer Zenn Motor Co. Inc. said it is targeting the launch of its ‘cityZENN’ EV, powered by EEStor ceramic ultracapacitors, for the third quarter of 2009. The cityZENN is planned to be a fully certified, highway-capable car with a top speed of 80 mph and a range of 250 miles – and because it plans to use U.S.-developed EEStor ceramic ultracapitors rather than lithium-ion batteries, the vehicle is planned to take less than five minutes to recharge.

The EEStor Electricity Storage Unit is projected to offer up to 10 times the energy density of lead-acid batteries at the same cost, and one and a half to two and a half that of lithium-ion batteries at 12-25% of their cost. EEStor, which has revealed little to date of its technology, has committed to launching it this year, and its first products are destined for ZENN Motor Co., which has invested in EEStor equity, and has an exclusive technology development agreement with the U.S. developer in respect of vehicles up to 1.4 tonnes GVW, and retrofit drivetrains.

ZENN Motor Company also plans to expand its product lineup for the 2009 model year with a four-passenger car and a utility ‘LSV’ (Low-Speed Vehicle), and to offer other vehicle manufacturers a proprietory ‘ZENNergy’ drivetrain, powered by EEStor, for various vehicle platforms, and to develop retrofit ZENNergy drive systems for the conversion of existing vehicles to electric drive.