EEStor Announces Several Key Technological Improvements to Its Energy Storage Products
Reports 35x increase in energy density, and a decrease in product costs of 10x
Low-cost, long-life thermally stable capacitors expected to significantly impact grid storage, wind, automotive, aircraft, laptop, camera, power backup, memory, UPS, solid-state disc drive and railway wayside market sectors
TORONTO and AUSTIN, Texas, Jan. 24, 2018 (GLOBE NEWSWIRE) -- EEStor Corporation (TSXV:ESU) (the “Company” or “EEStor”) today announced that it continues to make significant improvements to its high energy, low-cost storage capacitors under development. Since its last technology update on March 27, 2017, EEStor has developed several polar polymers for use with its composition modified barium titanate (CMBT) dielectric powder. Three independent testing firms, Radiant Technologies, Intertek and MRA Labs, have completed testing various aspects of the Company’s storage capacitors. The MRA report confirmed the thermal stability of the Company’s dielectric. The Radiant Technologies and Intertek reports confirmed that the Company’s capacitors have the ability to store large amounts of energy, 19.04 Joules/cubic centimeter (J/cc) or 5.2 watt hours/liter (wh/l). This marks a 35x increase over the previous generation of EEStor prototype capacitors.
“The supercapacitor market is forecasted by MarketsandMarkets™ to reach USD $2.18 Billion by 2022, a compounded annual growth rate of 20.7% during the forecast period,” said Ian Clifford, CEO of EEStor. “The expected growth in the supercapacitor market is attributed to the anticipated demand for high storage capacity compared to conventional capacitors. EEStor’s capacitor performance characteristics, along with its small footprint, high voltage breakdown, low cost and benign material components, are expected to make capacitors made from EEStor’s dielectric a leading value proposition for long life, low cost, temperature stable energy storage. Grid storage, wind, automotive, aircraft, laptop, camera, power backup, memory, UPS, solid-state disc drive and railway wayside market sectors could potentially all benefit from our technology.”
EEStor’s capacitors are electrostatic, meaning there are no chemical reactions involved in energy storage, while delivering high power densities. In contrast, supercapacitors are confined to low voltages (typically 2.5 volts to 2.7 volts). This means that unlike traditional supercapacitors, EEStor capacitors do not need to be combined in series to reach high voltage levels, providing further performance, size and cost advantages.
In addition to increasing energy density, the raw material cost to manufacture EEStor’s polymer capacitors has dropped by a factor of 10. Through the careful selection of materials, and the development of new processes for coating, mixing and forming CMBT polymer composites, EEStor has been able to dramatically lower the material and manufacturing costs of producing its polymer capacitors. All materials utilized in the production of EEStor’s CMBT and subsequent capacitors are globally abundant, domestically available and environmentally benign.
EEStor continues to work on a number of initiatives to unlock further performance improvements in its unique CMBT dielectrics.
Full copies of the independent test reports prepared by MRA Labs, Intertek and Radiant Technologies have been filed and are available for viewing and download on the Company’s website at www.eestorcorp.com and under the Company’s profile on SEDAR at www.sedar.com.
The Company will be convening a one-hour webinar on Friday January 26th, 2018 at 11 AM EST to discuss the results and answer questions. Please register for the webinar at: https://app.livestorm.co/eestor-corp/phase-6-update-eestor. You can submit your questions in advance to: inquiries@eestorcorp.com
About EEStor Corporation
EEStor Corporation's mission is to be the provider of leading edge electrical energy storage and related technologies. EEStor operates on the principle and belief that a fundamental breakthrough in energy storage will be the catalyst for positive environmental and economic change globally. EEStor’s current business strategy is focused on licensing opportunities across a broad spectrum of industries and applications building on its recent technology achievements related to high energy density capacitors.
The Company’s success depends on the commercialization of its technology. There is no assurance that EEStor will be successful in the completion of the various enhancement phases underway to warrant the anticipated licensing opportunities in the technology. Readers are directed to the "Risk Factors" disclosed in the Company’s public filings.
Forward-looking Statements
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 power and energy storage industries, consumer demand for energy storage products and solutions and the global economy. Risks and uncertainties that may face the Company include, but are not restricted to: EEStor may not be able to replicate test results in mass produced commercial products; the EEStor 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 filings with the various Canadian securities regulators which are available online at www.sedar.com.
For additional information please contact:
Ian Clifford
Chief Executive Officer
EEStor Corporation
Tel. 416-535-8395 ext. 3
Ian.Clifford@EEStorCorp.com
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.
A PDF accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Do...78903999d3
Reports 35x increase in energy density, and a decrease in product costs of 10x
Low-cost, long-life thermally stable capacitors expected to significantly impact grid storage, wind, automotive, aircraft, laptop, camera, power backup, memory, UPS, solid-state disc drive and railway wayside market sectors
TORONTO and AUSTIN, Texas, Jan. 24, 2018 (GLOBE NEWSWIRE) -- EEStor Corporation (TSXV:ESU) (the “Company” or “EEStor”) today announced that it continues to make significant improvements to its high energy, low-cost storage capacitors under development. Since its last technology update on March 27, 2017, EEStor has developed several polar polymers for use with its composition modified barium titanate (CMBT) dielectric powder. Three independent testing firms, Radiant Technologies, Intertek and MRA Labs, have completed testing various aspects of the Company’s storage capacitors. The MRA report confirmed the thermal stability of the Company’s dielectric. The Radiant Technologies and Intertek reports confirmed that the Company’s capacitors have the ability to store large amounts of energy, 19.04 Joules/cubic centimeter (J/cc) or 5.2 watt hours/liter (wh/l). This marks a 35x increase over the previous generation of EEStor prototype capacitors.
“The supercapacitor market is forecasted by MarketsandMarkets™ to reach USD $2.18 Billion by 2022, a compounded annual growth rate of 20.7% during the forecast period,” said Ian Clifford, CEO of EEStor. “The expected growth in the supercapacitor market is attributed to the anticipated demand for high storage capacity compared to conventional capacitors. EEStor’s capacitor performance characteristics, along with its small footprint, high voltage breakdown, low cost and benign material components, are expected to make capacitors made from EEStor’s dielectric a leading value proposition for long life, low cost, temperature stable energy storage. Grid storage, wind, automotive, aircraft, laptop, camera, power backup, memory, UPS, solid-state disc drive and railway wayside market sectors could potentially all benefit from our technology.”
EEStor’s capacitors are electrostatic, meaning there are no chemical reactions involved in energy storage, while delivering high power densities. In contrast, supercapacitors are confined to low voltages (typically 2.5 volts to 2.7 volts). This means that unlike traditional supercapacitors, EEStor capacitors do not need to be combined in series to reach high voltage levels, providing further performance, size and cost advantages.
In addition to increasing energy density, the raw material cost to manufacture EEStor’s polymer capacitors has dropped by a factor of 10. Through the careful selection of materials, and the development of new processes for coating, mixing and forming CMBT polymer composites, EEStor has been able to dramatically lower the material and manufacturing costs of producing its polymer capacitors. All materials utilized in the production of EEStor’s CMBT and subsequent capacitors are globally abundant, domestically available and environmentally benign.
EEStor continues to work on a number of initiatives to unlock further performance improvements in its unique CMBT dielectrics.
Full copies of the independent test reports prepared by MRA Labs, Intertek and Radiant Technologies have been filed and are available for viewing and download on the Company’s website at www.eestorcorp.com and under the Company’s profile on SEDAR at www.sedar.com.
The Company will be convening a one-hour webinar on Friday January 26th, 2018 at 11 AM EST to discuss the results and answer questions. Please register for the webinar at: https://app.livestorm.co/eestor-corp/phase-6-update-eestor. You can submit your questions in advance to: inquiries@eestorcorp.com
About EEStor Corporation
EEStor Corporation's mission is to be the provider of leading edge electrical energy storage and related technologies. EEStor operates on the principle and belief that a fundamental breakthrough in energy storage will be the catalyst for positive environmental and economic change globally. EEStor’s current business strategy is focused on licensing opportunities across a broad spectrum of industries and applications building on its recent technology achievements related to high energy density capacitors.
The Company’s success depends on the commercialization of its technology. There is no assurance that EEStor will be successful in the completion of the various enhancement phases underway to warrant the anticipated licensing opportunities in the technology. Readers are directed to the "Risk Factors" disclosed in the Company’s public filings.
Forward-looking Statements
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 power and energy storage industries, consumer demand for energy storage products and solutions and the global economy. Risks and uncertainties that may face the Company include, but are not restricted to: EEStor may not be able to replicate test results in mass produced commercial products; the EEStor 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 filings with the various Canadian securities regulators which are available online at www.sedar.com.
For additional information please contact:
Ian Clifford
Chief Executive Officer
EEStor Corporation
Tel. 416-535-8395 ext. 3
Ian.Clifford@EEStorCorp.com
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.
A PDF accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Do...78903999d3
