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Feel Good Cars Completes C$10M Offering; Funding for EESTOR Payments

Feel Good Cars Corporation, makers of the ZENN neighborhood electric vehicle, has raised C$10 million (US$8.6 million) with its offering of 3,773,585 common shares.

Net proceeds from this financing will be used to repay short-term loans and interest thereon, to fund the payment of future milestone payments to EEStor, Inc., and to fund product development. The balance will go for working capital and general corporate purposes, including strategic partnerships, joint ventures, acquisitions or investments.

EESTOR, a strategic partner of ZENN and the developer of a new high-power-density ceramic ultracapacitor (the Energy Storage Unit—EESU), announced reaching two key production milestones in January. (Earlier post.)

The first commercial application of the EESU is intended to be used in electric vehicles under a technology agreement with ZENN. EEStor says that it remains on track to begin shipping production 15 kWh Electrical Energy Storage Units (EESU) to ZENN Motor Company in 2007 for use in their electric vehicles.



15 kWh is a pretty small pack, I hope they aren't planning on making more NEVs.


EESTOR i hope its true. but until they produce a working prototype its all hype

Michael McMillan

Pretty small for a battery pack, but enormous for a capacitor. To put it in perspective in small volume, maxell is about $0.30 per watt second ($35 for 1 36 ferad 2.7 volt cap), or $300 per kilowatt second, or 1 million dollars for a kilowatt hour, $15 million for 15 kilowatt hours. My numbers may be double or half, but within an order of magnitude.

Sylvia Scartozzi

looking forward to buy a new car could this be it?

Michael McMillan

I would like to update this, my calculation was off. I was using 1 joule = 1 ferad * 1 volt. The true formula is joules = (ferads * volts * volts ) / 2, which makes ultra capicitors a much better deal.

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