Toronto, Ontario, Canada
EESTOR CORPORATION ANNOUNCES RESULTS OF PHASE 3 INDEPENDENT TESTING ON EESTOR CAPACITOR TECHNOLOGY
Toronto, Ontario – August 12, 2015 – EEStor Corporation (TSXV: ESU; “EEStor” or the “Company”), today announced the findings of the independent Phase 3 testing conducted by Intertek Group plc (“Intertek”) on its 1500 and 2000 volt robotically produced capacitor technology.
The Company is pleased to report that this recently completed testing further confirms the robust characteristics of the robotic production of the Company’s high voltage capacitors and the advanced technical characteristics of the proprietary-developed dielectric material. This increasingly demonstrates EEStor’s commercial potential for the large global capacitor market.
The Phase 3 Intertek Report is available for viewing at www.eestorcorp.com and www.sedar.com.
Intertek rigorously tested four 1500 volt and one 2000 volt 8-layer robotically produced polypropylene injection molded samples of EEStor’s capacitor technology across multiple voltages. Intertek has confirmed that significant improvements were achieved over the previously tested and reported 750 volt, hand built six-layer injection molded prototype.
Key highlights and findings of the Intertek Phase 3 Report include:
• An eight layer stack, rated at 2000 volts, was successfully tested up to 3400 volts, demonstrating high voltage stability and improvements to time constants.
• Capacitance of the stack remained constant over a wide range of voltages (1,000 to 3,400 volts).
• The resultant extremely high time constant could allow for voltage smoothing for many applications and should improve the performance of power related devices.
Ian Clifford, Founder and CEO of EEStor Corporation stated: “The Phase 3 independent testing conducted by Intertek represents an important next-stage validation of the potential of EEStor’s technology for capacitor applications. It confirms the viability of our robotic production design and capabilities. We are very pleased with the confirmation from Intertek, which once again confirms our own internal testing results. Based on the strength of these production prototypes, most recently we met at our facility in Cedar Park, Texas with multiple prospective joint venture partners who understand the implications of the technology. In anticipation of further discussions, they were provided some high voltage robotically produced prototypes for their own internal evaluation and testing purposes.”
Mr. Dennis Zogbi, CEO and Founder of Paumanok Publications added: “I am looking forward to further introductions of the EEStor technology platform to my global customer base, especially those vendors currently competing in high voltage capacitor markets; as well as my customers who consume high voltage capacitors in power related systems and devices; and, those manufacturers of value-added and application specific products who can benefit from the EEStor technology.”
Mr. Clifford concluded: “EEStor will continue to host additional potential joint venture partners at our facility in Cedar Park in the coming weeks and to formalize meaningful strategic relationships with these leading capacitor industry partners.”
About EEStor Corporation
EEStor Corporation’s mission is to be the provider of leading edge capacitor and energy storage solutions and related technologies. The Company operates on the principle and belief that a fundamental breakthrough in high voltage capacitance and related energy storage will be the catalyst for positive environmental and economic change globally. The Company’s current business strategy is focused on licensing and partnership opportunities across a broad spectrum of industries and applications building on its recent technology achievements in the capacitor industry.
The Company holds an approximate 71.3% as-converted equity and voting interest and certain technology rights to a solid-state capacitor and related energy storage technologies currently under development by EEStor, Inc. The acquisition of the controlling interest in EEStor, Inc. aligns the businesses of both companies and now allows EEStor Corporation to benefit from other revenue streams that should be available to EEStor, Inc., including applications throughout the capacitor industry and not limited to high density energy storage applications.
EEStor, Inc.’s capacitor and energy storage technology is still under development and a number of further development milestones must be achieved before commercial viability can be fully established. There are significant risks associated with the development of new technologies such as EEStor, Inc.’s capacitor and energy storage technology and readers are directed to the “Risk Factors” disclosed in EEStor Corporation’s most recent Annual Information Form filed on SEDAR.
Certain statements and documents referred to in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties that face the Company; such statements may contain such words as “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, and may be based on management’s current assumptions and expectations related to all aspects of the capacitor and energy storage industries, consumer demand for such solutions and the global economy. Risks and uncertainties that may face the Company include, but are not restricted to: the EEStor, Inc. capacitor and energy storage technology may not be successfully commercialized at all, in a manner providing the features and benefits expected while under development, or on a timely basis or the Company may not be able to successfully incorporate this technology into its current or proposed products or the products of others; steps taken by the Company to protect its proprietary rights may not be adequate or third parties may infringe or misappropriate the Company’s proprietary rights; the Company has a history of losses from operations and may not be able to obtain financing, if and when required or on acceptable terms due to market conditions or other factors, to fund future expenditures for general administrative activities, including sales and marketing and research and development, expansion, strategic acquisitions or investment opportunities or to respond to competitive pressures; competitors may develop products which offer greater benefits to consumers, have greater market appeal or are more competitively priced than those offered by the Company; the Company may be exposed to product liability claims which exceed insurance policy limits; the Company is dependent on the ability and experience of a relatively small number of key personnel; new products introduced by the Company may not be accepted in the market or to the extent projected; new laws and regulations may be enacted or existing ones may be applied or governmental action may be taken in a manner which could limit or curtail the production or sale of the Company’s products; and the Company may be negatively affected by reduced consumer spending due to the uncertainty of economic and geopolitical conditions. These risks and uncertainties may cause actual results to differ from information contained in this release, when estimates and assumptions have been used to measure and report results. There can be no assurance that any statements of forward- looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.
These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by applicable laws, the Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change. Readers are cautioned not to place undue reliance on any statements of forward looking information that speak only as of the date of this release. Additional information identifying risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s most recently filed Annual Information Form and its other filings with the various Canadian securities regulators which are available online at www.sedar.com.
For additional information please contact:
Chief Financial Officer
Tel. 416-535-8395 ext. 220
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.