ZENN Motor Company
Encyclopedia
ZENN Motor Company ZENN is an acronym
for Zero Emissions No Noise, is a Canadian-based company that previously developed small lead-acid electric vehicle
s that were suitable for the neighborhood electric vehicle
(NEV) market. Currently, their focus is to capitalize on the ownership and rights to EEStor
capacitor technology.
Ian Clifford is a professional photographer and a founder of digIT Interactive (1993–2000). After digIT was sold, Ian, Marek and Probyn "Bunny" Gayle founded Feel Good Cars, which was later re-named to ZENN Motor Company. The first prototype, a Dauphine Electric was based on the French economy-class combustion-based Renault Dauphine
. By 2001 the all-electric prototype went on display at the Toronto International Auto Show. They began using the body of a small, lightweight diesel-powered mini-car from Microcar
. They initially acquired 10 Microcar vehicles without any internal combustion components attached (called a "glider"). The glider was fitted with lead-acid batteries and an electric motor to create a NEV product.
For the fiscals years 2008 and 2009, ZENN sold 360 ZENN NEVs at a company-wide cost of $65,000 for each $15,000 NEV sold.
In 2004, ZENN signed an agreement with EEStor
who was seeking investment to produce ultra-capacitors that could replace batteries and revolutionize the EV industry. The well-known venture capital firm KPCB invested $3 million in EEStor in 2005 for approximately 20% ownership. EEStor is a private company, so the KPCB investment resulted in public investors being more interested in ZENN as a way to invest in the EEStor technology. Amendments to the 2004 agreement and a milestone in 2007 resulted in ZENN acquiring a 3.8% ownership of EEStor
for $2.5 million. Exclusive rights to the technology in small vehicles were also acquired. EEStor stated delivery of the first units to ZENN would occur by the end of 2007 (see EEStor
article). Delivery was also scheduled for 2008 and 2009. In 2007, 2008, and 2009, ZENN received $34 million from stock offerings and paid $10 million to EEStor in accordance with their 2007 agreement. ZENN now has a 10.7% ownership of EEStor stock. As of August 1, 2010, ZENN has not received a prototype from EEStor.
In 2009 and 2010, ZENN canceled production of their vehicles and released employees to conserve cash. ZENN's remaining business is focused on the EEStor technology and their rights to it.
Acronym and initialism
Acronyms and initialisms are abbreviations formed from the initial components in a phrase or a word. These components may be individual letters or parts of words . There is no universal agreement on the precise definition of the various terms , nor on written usage...
for Zero Emissions No Noise, is a Canadian-based company that previously developed small lead-acid electric vehicle
Electric vehicle
An electric vehicle , also referred to as an electric drive vehicle, uses one or more electric motors or traction motors for propulsion...
s that were suitable for the neighborhood electric vehicle
Neighborhood electric vehicle
A Neighborhood Electric Vehicle is a U.S. denomination for battery electric vehicles that are legally limited to roads with posted speed limits as high as depending on the particular laws of the state, usually are built to have a top speed of , and have a maximum loaded weight of 3,000 lbs...
(NEV) market. Currently, their focus is to capitalize on the ownership and rights to EEStor
EEStor
EEStor is a company based in Cedar Park, Texas, United States that claims to have developed a revolutionary new type of capacitor for electricity storage, which EEStor calls the 'Electrical Energy Storage Unit'...
capacitor technology.
History and Status
Renault Dauphine
Renault Dauphine is a rear-engined economy car manufactured by Renault in one body style — a three-box, four-door sedan — as the successor to the Renault 4CV, with over two million examples marketed worldwide during its production from 1956-1967....
. By 2001 the all-electric prototype went on display at the Toronto International Auto Show. They began using the body of a small, lightweight diesel-powered mini-car from Microcar
Microcar (brand)
Microcar is a French microcar manufacturer. The company was founded in 1984 as a division of Bénéteau group, a major sailboat manufacturer. Production moved to a new custom-built factory in September 2000. In September 2008, Microcar was acquired by Ligier Automobiles in a deal backed by the...
. They initially acquired 10 Microcar vehicles without any internal combustion components attached (called a "glider"). The glider was fitted with lead-acid batteries and an electric motor to create a NEV product.
For the fiscals years 2008 and 2009, ZENN sold 360 ZENN NEVs at a company-wide cost of $65,000 for each $15,000 NEV sold.
In 2004, ZENN signed an agreement with EEStor
EEStor
EEStor is a company based in Cedar Park, Texas, United States that claims to have developed a revolutionary new type of capacitor for electricity storage, which EEStor calls the 'Electrical Energy Storage Unit'...
who was seeking investment to produce ultra-capacitors that could replace batteries and revolutionize the EV industry. The well-known venture capital firm KPCB invested $3 million in EEStor in 2005 for approximately 20% ownership. EEStor is a private company, so the KPCB investment resulted in public investors being more interested in ZENN as a way to invest in the EEStor technology. Amendments to the 2004 agreement and a milestone in 2007 resulted in ZENN acquiring a 3.8% ownership of EEStor
EEStor
EEStor is a company based in Cedar Park, Texas, United States that claims to have developed a revolutionary new type of capacitor for electricity storage, which EEStor calls the 'Electrical Energy Storage Unit'...
for $2.5 million. Exclusive rights to the technology in small vehicles were also acquired. EEStor stated delivery of the first units to ZENN would occur by the end of 2007 (see EEStor
EEStor
EEStor is a company based in Cedar Park, Texas, United States that claims to have developed a revolutionary new type of capacitor for electricity storage, which EEStor calls the 'Electrical Energy Storage Unit'...
article). Delivery was also scheduled for 2008 and 2009. In 2007, 2008, and 2009, ZENN received $34 million from stock offerings and paid $10 million to EEStor in accordance with their 2007 agreement. ZENN now has a 10.7% ownership of EEStor stock. As of August 1, 2010, ZENN has not received a prototype from EEStor.
In 2009 and 2010, ZENN canceled production of their vehicles and released employees to conserve cash. ZENN's remaining business is focused on the EEStor technology and their rights to it.