EEStor, ASG to jointly develop silicone-based polymers
Companies looking for a unique polymer for EEStor’s capacitors.
TORONTO — EEStor Corp. will jointly develop highly polar silicone-based custom polymers with a Barbados-based R&D firm for use in its capacitor and electrical energy storage technologies.
The Toronto company has signed a binding letter of intent with Alchemy Synergy Group (ASG) Inc., a developer of specialty polymers, including highly-polarized silanes (chemical compound with one or multiple silicon atoms) for use in antimicrobials applications, and specialty coatings applied to thin films.
ASG will help design what it describes as a “unique polymeric solution” to work with EEStor’s composition modified barium titanate, a powder used in energy storage capacitors. If tests are successful, it will licence the developed polymers to EEStor and assist with the sourcing the materials for commercial production.
All polymer technologies developed by both companies would be jointly owned with a technology agreement for the cross-licensing. EEStor would also have the right, in certain circumstances, to acquire technologies as they relate to the capacitor and energy storage industries.
Financial terms of the agreement involve graduated payments based on energy density and time-constant milestones, totalling US$106,000 to ASG plus 1,950,000 common shares.
EEStor is aiming its polymer capacitors at the architecture, engineering and construction markets, the photovoltaic voltage smoothing capacitor market and the utility grid power factor correction markets.
The company began as ZENN Motor Co. Inc., a Canadian manufacturer of low speed electric vehicles. It changed its name to EEStor Corp. to reflect its current interests and holds the controlling interest in EEStor Inc., based in Cedar Park, Tex., the developer of the capacitor technology.