EEStor Announces Additional Funding
CEDAR PARK, Texas, Nov. 12, 2012 /PRNewswire/ -- EEStor Inc. ("EEStor") announced today that it has closed additional equity financing from one of its current investors. Under the terms of the agreement, the investor may invest additional amounts in EEStor upon the achievement of certified energy density milestones from layers produced by EEStor's pilot production facility. EEStor plans to use the funds for working capital purposes including continued development of its EESU's.
About EEStor Inc.
Headquartered in Cedar Park, Texas, EEStor Inc. is dedicated to the design, development, and manufacture of high-density energy storage devices. EEStor Inc. is utilizing revolutionary ultra-capacitor architecture and environmentally friendly materials in the production of its EESU's.
This press release contains "forward-looking statements," including statements related to investing additional amounts upon the achievement of milestones and the use of the funds. These statements are subject to a number of risks and uncertainties, including whether the funding milestones are achieved, the risk of development or production delays, the risk that the technology or devices may not perform as expected, component or raw materials delays or shortages, the ability to effectively manage operating expenses and manufacturing operations and the ability to maintain or raise sufficient capital to fund current development and production goals. EEStor's actual results may differ materially from the expected results in this release. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made. EEStor does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this press release, or to reflect the occurrence of unanticipated events.
SOURCE EEStor Inc.