AUSTIN, TEXAS and TORONTO, ONTARIO--(Marketwired - March 13, 2017) -
- Time constant in Phase 5 testing increases over 20 times from Phase 4 testing, substantially increasing addressable grid storage market
- Environmental testing and ongoing million-cycle charge/discharge cycle testing confirms no performance degradation or heat buildup
EEStor Corporation (TSX VENTURE:ESU) ("EEStor" or the "Company") announced today that Phase 5 testing of its composite modified barium titanate ("CMBT") - based energy storage technology has confirmed the achievement of significant advancements in the dielectric performance of its technology. This Phase of testing included, for the first time, environmental and cycle tests, as well as testing to demonstrate the important advantages of the technology's unique "stacking effect" (www.eestorcorp.com/stacking)1. The performance levels confirmed in Phase 5 testing, including significant increases in time constants, positions EEStor's technology to compete as a market-leading solution in a wide range of grid-related electrical energy storage applications.
Ian Clifford, Founder and CEO of the Company commented: "We are extremely pleased with the continued advancements with respect to our technology over the past several months as displayed by the Phase 5 test results. The Company continued to work with both Intertek Group plc (Intertek) and MRA Laboratories Inc. (MRA) in this round of testing to ensure a high level of confidence in test results. With time constants now measured in hours, documented cycle and environmental robustness proven, increased capacitance and high volts-per-micron dielectric strength, we are confident that our ongoing licensing discussions will result in meaningful relationships in the industry. In addition, our high-energy density work is now well under way and we look forward to announcing the results of the Advanced Polymer Program as it progresses." Clifford added: "The imperative to realize a sustainable and scalable solution in energy storage has never been greater nor the demand more significant. Every country around the world is focused on how to effectively and sustainably store precious electricity. I am confident, as a result of the significant advancements with the technology shown in the Phase 5 testing, that EEStor is positioned to become a leader in electrical energy storage. We continue to develop our technology that will replace unsustainable fossil fuels and electrolytic energy storage that is fraught with safety, environmental and scalability challenges."
Phase 5 test results confirm that EEStor's technology has now achieved time constants of 4400 seconds (73.33 minutes or 1.22 hours) at 3000 volts in a 16-layer stack configuration, more than 20 times the 215 seconds (3.58 minute) time constant measured at the same voltage in Phase 4 testing. Phase 5 environmental testing, and ongoing charge/discharge cycle testing, have proven there is no performance degradation from charge/discharge cycling (underway at MRA and currently at 500,000 cycles) and no resulting heat generation. In addition to confirming the increased capacity and durability of the Company's technology, Phase 5 testing also confirms and highlights the unique stacking effect of the technology. The results for the 4, 8 and 16 layer stacks verify that capacitance increases with the number of layers, as expected; however, resistance does not drop as circuit law would predict. In fact, resistance of the 4, 8 and 16 layer stacks remains flat and constant. This is a unique and key differentiating characteristic of EEStor's technology.
1 For an in-depth analysis of the stacking breakthrough and related market impact, please see the Company's white paper available for viewing or download at www.eestorcorp.com/stacking or http://www.sedar.com/
The Company has undertaken environmental testing in Phase 5 to further demonstrate the robustness and resiliency of its technology. These test results confirm no loss of performance with humidity ranging from 20% to 65%. Phase 5 testing also shows that EEStor's dielectric capacitance stays constant with decreasing temperature, while the insulation resistance increases with decreasing temperature from 20 degrees C. Conversely as temperature increases above 20 degrees C capacitance increases and the insulation resistance decreases. The result is an increase in time constants with no loss of capacitance in cold conditions and an increase in capacitance accompanied by a decrease in time constants in hot conditions. Internal testing has identified the slope of this time constant variability with heat. The testing from Phase 5 is depicted in the following chart along with the expected thermal performance from in-house tests on the same part.
To view the charts please click the following link: http://media3.marketwire.com/docs/EEStorCharts.pdf
EEStor has completed in-house testing of over 1 million charge and discharge cycles at a charge discharge ramp of 0.1 seconds to 3000 volts DC with no degradation in the integrity or performance of the parts, and with no heat gain over days of constant charge and discharge cycles. MRA is in the process of conducting its own independent cycle testing to 1 million cycles at a charge discharge ramp of 0.1 seconds to 3000 volts DC. As of the date of this press release, MRA had completed testing to 500,000-cycles. The interim temperature and performance data to this level is included in MRA's Phase 5 report and shows no performance degradation or heat gain. The Company will report the final results of MRA's million-cycle test once completed.
Full copies of the Phase 5 independent test reports have been filed and are available for viewing and download on the Company's website at www.eestorcorp.com and on SEDAR at www.sedar.com.
Intertek is an industry leader with more than 40,000 employees in 1,000 locations in over 100 countries. Intertek delivers Quality Assurance solutions 24 hours a day, 7 days a week with its industry-winning processes to help its customer ensure their products meet quality, health, environmental, safety, and social accountability standards for virtually any market around the world. Intertek holds extensive global accreditations, recognitions, and agreements, and its knowledge of and expertise in overcoming regulatory, market, and supply chain hurdles is unrivaled. Intertek's testing and certification services support the quality, performance, regulatory compliance, safety, benchmarking, evaluation, validation, analysis, and other requirements for products, components, raw materials, sites, and facilities.
MRA is a leading supplier of formulated ceramic dielectric materials and customized technology solutions to the multilayer ceramic capacitor (MLCC) industry. MRA offer a broad selection of formulated ceramic dielectric compositions for air-fired multilayer ceramic chip capacitors, customized electrode inks, new custom dielectric compositions, prototype production of electronic components and analytical services. MRA offers a broad spectrum of electrical characterization tools to evaluate dielectric materials and measure their performance in passive electronic components at variable temperatures, voltages, and frequencies.
EEStor's mission is to be the provider of leading edge electrical energy storage and related capacitor technologies. The Company operates on the principle and belief that a fundamental breakthrough in energy storage will be the catalyst for positive environmental and economic change globally. The Company's business strategy is focused on licensing opportunities across a broad spectrum of industries and applications building on its recent technology achievements related to high voltage solid state capacitors. The most recent advancements in the Company's technology has resulted in focusing its licensing discussions on the substantial global electrical grid storage and power factor correction markets.
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. (EEStor). The acquisition of the controlling interest in EEStor aligns the businesses of both companies and now allows EEStor Corporation to benefit from other revenue streams that should be available to EEStor, including applications throughout the capacitor industry and not limited to high density energy storage applications.
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 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 automotive industry, consumer demand for zero emission transportation 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.
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.