TORONTO, ON -- Dec. 03,
2019 -- InvestorsHub NewsWire-- EEStor Corporation (TSX.V: “ESU-V”) (“EEStor” or the
“Corporation”), is pleased to announce it has
received a positive performance report from FWG Ltd.
(“FWG”) related to their doped-carbon battery
technology. The report was prepared by SGS-CSTC, and involved
testing on five single cell devices at their electrical safety
laboratory in Shenzhen. The tests demonstrate energy density of the
devices as being an average of 53.31 watt hours per kilogram
(wh/kg).
Ian Clifford, Founder and
CEO of EEStor stated: “We are very pleased to receive this initial
validation report from FWG as part of our ongoing due diligence. As
I previously stated, at 50 wh/kg of energy density, the replacement
of the ubiquitous Group 27 lead acid battery with a carbon-based
battery that matches or surpasses the storage, operational and
economic performance of lead acid without any of the catastrophic
environmental implications is within sight and is our major and
immediate focus.”
Clifford continued:
“Further independent third-party certification of full-scale
devices is planned with both Intertek Inc. and the National
Physical Laboratory of Great Britain to ensure that the performance
characteristics of the technology are fully validated and
disclosed. Additionally, SGS will continue as an independent
third-party certification partner.”
Clifford concluded: “Our
current private placement has targeted a significant financial
commitment to completing these vital third-party certifications. We
understand the critical nature of independent confirmation and
validation of everything that we do.”
A complete copy of the
report is available at: http://ml.globenewswire.com/Resource/Download/4d7cd6cf-61d8-47b8-9462-5fde2fe321b8
About
EEStor
EEStor is a developer of
high energy density solid-state capacitor technology utilizing the
Corporation’s patented Composition Modified Barium Titanate (CMBT)
material. The Corporation is focused on licensing opportunities for
its technology across a broad spectrum of industries and
applications.
About
FWG
FWG is involved in research
and development and commercial activities related to capacitor,
battery and hybrid electrical energy storage devices including
carbon and graphene-based technologies.
Neither the 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.
All statements, other
than statements of historical fact, contained in this press release
including, but not limited to (i) generally, or the “About EEStor”
paragraph which essentially describes the Corporation’s outlook and
objectives, constitute ''forward-looking information'' or
''forward-looking statements'' within the meaning of certain
securities laws, and are based on expectations, estimates and
projections as of the time of this press release. Forward looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Corporation as
of the time of such statements, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. These estimates and assumptions may prove to be
incorrect.
Many of these
uncertainties and contingencies can directly or indirectly affect,
and could cause, actual results to differ materially from those
expressed or implied in any forward-looking statements. There can
be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements.
Forward-looking statements are provided for the purpose of
providing information about management's expectations and plans
relating to the future. The Corporation disclaims any intention or
obligation to update or revise any forward-looking statements or to
explain any material difference between subsequent actual events
and such forward-looking statements, except to the extent required
by applicable law.
FOR FURTHER
INFORMATION, PLEASE CONTACT:
Mr. Ian Clifford
Chief Executive Officer
416-535-8395 ext.3
ian.clifford@eestorcorp.com