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Message: Updates on EEStor Permittivity Milestone Notice Period
| May 1, 2009 |
| ZENN Motor Company Updates on EEStor Permittivity Milestone Notice Period |
| TORONTO, ONTARIO--(Marketwire - May 1, 2009) - ZENN Motor Company ("ZMC") (TSX VENTURE:ZNN) a leading developer of zero emission transportation solutions, provides clarity to its stakeholders related to the press release of ZMC's energy storage partner EEStor, Inc. on April 27th, 2009. "A number of interested parties have requested clarification regarding the specifics of the notice period in which ZMC must notify EEStor of our intention whether or not to increase our equity position, based on the terms of the Share Purchase agreement between the companies," stated Ian Clifford, Chief Executive Officer of ZENN Motor Company. "The 5-business day notification period only begins once ZMC has completed its validation of third party-verified permittivity results, a detailed process ZMC is currently engaged in." ABOUT ZENN MOTOR COMPANY www.ZENNcars.com ZENN Motor Company Inc., Toronto, Canada, is dedicated to being the global leader in zero emission transportation solutions for markets around the world. Driven by quality, ingenuity, and a philosophy of social responsibility, the ZMC team is redefining what is possible in both urban and business fleet transportation. The ZENN(TM) (Zero Emission No Noise) provides an excellent alternative transportation solution for environmentally conscious drivers who want to dramatically reduce their operating costs and free themselves from dependence on oil. The current ZENN low speed vehicle is perfect for urban commuters and commercial fleets such as resorts, gated communities, airports, college and business campuses, municipalities, and parks and is sold through a network of retailers across the United States and directly by the Company in Quebec. The planned commercialization and implementation of the ultra capacitor being developed by ZENN Motor Company's strategic partner EEStor, Inc., is expected to enable future ZMC vehicles and ZENNergy(TM) drivetrain-powered vehicles to travel at speeds and distances similar to internal combustion powered vehicles but at a fraction of the cost and with zero emissions. Under its Technology Agreement with EEStor, Inc., ZMC holds the worldwide exclusive rights to incorporate EEStor's energy storage technology for new passenger vehicles up to 1,400 kilograms curb weight; golf cart and utility vehicles and the conversion of any class of used internal combustion 4-wheel vehicles to electric. |
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