Canadian electric vehicle maker Zenn Motor Company (TSX-V: ZNN)
believes it is in the right place at the right time, holding exclusive
rights to an ultra-capacitor battery technology that promises
significant advantages over traditional batteries.
Ian Clifford, Chief Executive of the Toronto-based company, told
Reuters in an interview that U.S. efforts to save its auto industry is
a "massive opportunity" for his company.
Zenn made a $2.5 million investment in energy storage developer
EEStor for exclusive rights to its technology which reportedly can be
used to power mid-sized vehicles and recharged in minutes rather than
hours. The technology is also smaller and less expensive than
traditional battery technology, the company said.
Zenn plans to begin commercial production of midsized vehicles
in 2009, and Clifford said, "We basically will joint venture with any
and all auto makers around the world."
Another company with promising ultra-capacitor technology made a
similar offer to car makers last month. AFS Trinity wants to use $2.5
billion of the "green retooling" funds set aside by congress to convert a big-three auto factory into a plug-in hybrid factory.
Read the Reuters report on Zenn at the link below.
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