UPDATE: EEStor issues clarification on permittivity tests, includes temperature range. EEStor’s “hot pressed dielectric layers have met and/or exceeded a relative permittivity of 22,500 over a temperature range of -20 and 65 degrees centigrade.”
On April 16 ZENN Motor closed the trading day at $2.14 (Canadian) a share on the Toronto Stock Exchange. Four days later it had climbed to $3.50, a 64 per cent increase. Then today — an hour or so again, to be precise — this press release hits the wire:
EEStor Inc. Announces Relative Permittivity Certification of Their Composition Modified Barium-Titanate PowersCEDAR PARK, Texas, April 22 /PRNewswire/ — EEStor, Inc. announces relative permittivity certification of their Composition Modified Barium-Titanate powders. The third party certification tests were performed by Texas Research International’s Dr. Edward G. Golla, PhD., Laboratory Director. He has certificated that EEStor’s patented and patent pending Composition Modified Barium-Titanate Powders have met and/or exceeded a relative permittivity of 22,500.
EEStor feels this is a huge milestone which opens the advancement of key products and services in the electrical energy storage markets of today. The automotive and renewable energy sectors are a few of the key markets that would benefit greatly with the technology.
Smells like blatant insider trading to me… but I digress. Let’s talk about the release (which was followed up immediately by a release from ZENN).
This is the “permittivity” certification that everyone has been waiting for, and this is the announcement that EEStor CEO and co-founder Dick Weir has talked about as the key milestone before the company can begin commercial production of its EESU systems. It also means ZENN must make its next payment to EEStor ($700,000). Finally, Weir has indicated to me that he will be more willing to open up and talk about EEStor’s plans once this milestone was reached and announced, so hopefully in the coming days more insight will be forthcoming. Stay tuned…