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The crescendo is building towards the EEStor revolution.
EEStor is the stealth-mode Texas startup developing ultracapacitors called EESUs that have several fold higher energy and power densities than lithium ion batteries, are scalable to any size, cost a fraction of what lithium-ion cells to do produce, and have no temperature or aging degradation. Too good to be true.
Representatives from an investment company called Jacob Securities were given a tour of EEStor's production facility and interviews with executives both from Zenn Motors and EEStor.
They used this information to prepare a report for investors in Zenn stock. This extensive 46 page report offered various important observations.
1. An detailed process for how the EESU is constructed and how it differs from other ultracapacitors was described
2. They noted:
We had the good fortune of touring the EEStor facility in June of this year and spent several hours with EEStor management. We can confirm that a full scale manufacturing line is up and running and apparently producing the barium titanate and associated powders (including the blending steps). However, we assume some additional development is required before it can produce fully intact EESUs at a commercial level.
3. They cautioned:
We don’t know if any party has observed a fully working EESU prototype at this time. We certainly didn’t when we visited the facility.
4. They await the following two milestones in 2009:
-Overall component certification is expected at some point in September 2009. We assume this means that a small scale fully functioning EESU will be certified at this time.
-A fully functioning EESU will be delivered to ZMC in calendar Q4:2009. This is likely to be a full size 52.2 kWh unit. The unit should slot right into ZMC’s prototype drivetrains that it has been developing for its forthcoming cityZENN/ZENNergy Drive based products.
It was noted that Zenn would both produce the EEStor-powered cityZenn electric car and license EEStor-powered ZENNergy drivetrains to other OEMs.
Delivery of the first commercial vehicles are anticipated in early 2011 for around $30,000. The vehicle will be demonstrated in 2010 with a 250 mile range and <5 minute recharging capacity.
Source (TheEEStory)
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By Bart Posted: 9/3/2009 10:23am PDT
By Jason M. Hendler Posted: 9/3/2009 11:04am PDT
By john Posted: 9/3/2009 11:18am PDT
I cannot believe that the public is falling for such BS. Hype hype hype. Its like a perpetual motion machine, they don't work and this is how it is going to play out.
By Kevin Posted: 9/3/2009 12:09pm PDT
that's just ignorant - a perpetual motion machine promises something for nothing.
eestor is about improved efficiency in energy storage.
Of course I have no idea how it's going pan out - if I was at all optimistic I would have some zenn stock - but ...
By Baghead Brendan Posted: 9/3/2009 12:34pm PDT
"However, we assume some additional development is required before it can produce fully intact EESUs at a commercial level."
After I read the above paragraph, I can see the scam is continuing. How could representatives from an invest company "assume" what additional development is needed in manufacturing of an EESU by EESTor? If they were at the facility, didn't they ask Dick Weir the question of what is needed for additional development of EESU, or were the investors playing stupid and just shaking there heads in agreement to whatever Dick Weir was stating.
I find it interesting Dick Weir shows the production line to congressmen and investors but does not show the production line to an independent 3rd party SME for verification, I wonder why? I still smell a rat.
By Bret Posted: 9/3/2009 12:38pm PDT
Seriously, why would EEStore be setting up a production line when they don't even have a functioning prototype yet. And, if they did have a working prototype, why wouldn't they show it to their investors. A real company with a real product would never do something like this.
This smells like B.S. to me.
By Baghead Brendan Posted: 9/3/2009 12:42pm PDT
By Bagdad Bob Posted: 9/3/2009 5:08pm PDT
Just like Unicorns, toothfairy and Shrek :)
By Paul C from Austin Posted: 9/3/2009 6:12pm PDT
By J.D. Kennedy Posted: 9/3/2009 7:14pm PDT
By russ Posted: 9/4/2009 12:33am PDT
The 46 page report has enough loop holes to drive a tank through while giving potential Zenn investors assurances that all is well.
They did exactly what they were paid to do - promote the stock.
By Noel Park Posted: 9/4/2009 4:16pm PDT
Dang, you beat me to it. Remember the Sopranos episodes where Christopher and his crew were running the stock boiler room? Make your quota or get a broken leg, LOL.
By arturo123 Posted: 9/4/2009 7:42pm PDT
By Paul Posted: 9/4/2009 7:46pm PDT
Simply ask: Why would they be commissioning an investor report BEFORE the product is demonstrated if the 52 kWh 'production' unit is due to be delivered to Zenn in Q4 THIS YEAR?
Surely, unless they have already spent to cubic millions Zenn has already supposedly invested, the valuation would be MUCH higher if they simply waited 6 months till Q4 to raise more funds.
Sounds like early investors want to sell out their positions BEFORE the next shipping date gets missed, yet again!
Lets face it guys, what IP would be at risk if they showed a working proto type? I'd suggest Zero!
By Eric E Posted: 9/5/2009 5:32pm PDT
I cant wait till...uhm...soon ; )
By eestorscam Posted: 9/5/2009 8:05pm PDT
By Tom Lakosh Posted: 9/5/2009 9:22pm PDT
By TV321 Posted: 9/8/2009 6:24am PDT
By Tysto Posted: 9/8/2009 6:26am PDT
By safdsa Posted: 9/15/2009 10:16pm PDT
By Trojan Posted: 9/18/2009 7:57am PDT
By ed Posted: 10/17/2009 1:30pm PDT
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