EEStor Corporation Receives SGS Performance Report from FGW Ltd.
December 02 2019 - 6:00AM
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.3ian.clifford@eestorcorp.com
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