EEStor’s Production Delays Due to Funding

EEStor, the stealthy startup whose Electrical Energy Storage Unit (EESU) could revolutionize the auto industry, has yet to show off a production version of its EESU.The folks at the GM-Volt blog, a site unaffiliated with GM, say they’ve got the word directly from the chief himself: the problem was a delay in adequate funding. Founded in 2001, EEStor reportedly received $3 million in backing from Kleiner Perkins in 2005, though the startup is not listed in Kleiner’s portfolio. Electric car maker ZENN Motor Cars invested $2.5 million in EEStor in 2007 for a 3.8 percent stake in the company.

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