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Summary:

Stealthy energy storage maker EEStor continues to make headlines, despite the fact that the company has yet to deliver its device that has such revolutionary claims. But the latest news comes via an audio interview that was conducted by an unknown interviewer with EEStor’s CEO Dick […]

Stealthy energy storage maker EEStor continues to make headlines, despite the fact that the company has yet to deliver its device that has such revolutionary claims. But the latest news comes via an audio interview that was conducted by an unknown interviewer with EEStor’s CEO Dick Weir that has now made its way as a transcript onto TheEEStory.com. Now, normally we wouldn’t pay too much attention to a story of such unclear origin, but Clean Break’s Tyler Hamilton, who’s interviewed Weir before and knows his voice, says that the audio clip is Weir’s voice “100 percent.”

And the clip does have a lot of interesting tidbits — namely something that I’ve always been particularly curious about: venture firm Kleiner Perkin’s role in the energy storage startup. Given the fact that Kleiner has since distanced itself from EEStor, since its reported investment back in 2005, excluding the company from its greentech portfolio on its web site, any info on Kleiner’s funding is interesting. According to the audio interview, Weir says Kleiner owns “about 20 some percent of the company.” Weir goes on to say that since Zenn Motor’s investment two and a half years ago, EEStor stopped being just a VC company, but that EEStor and Kleiner “stay friends.” “Hey, they own stock in us, and they’ll get the great rewards because of it,” says Weir. It’s still curious, though, that Kleiner barely acknowledges the investment.

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  1. Avoiding VC money apparently is the best way to maximize the reword. VCs are spoiled and not flexible to make custom adjustments to ensure high motivation for individuals taking risk in high tech start ups. I’m glad that these guys are not f..ed by VC and will have what they deserved.

  2. This document on Kleiner Perkins website acknowledges the investment!

    http://www.kpcb.com/files/Fortune_article.pdf

  3. Katie Fehrenbacher Tuesday, July 28, 2009

    @Mike, thanks. I think even though they have a link to an article that mentions EEStor in it, it’s still weird they dont have it mentioned in their portfolio.

  4. EEStor CEO: ZENN Will Get Ultracapacitors by End of Year : Gas 2.0 Wednesday, July 29, 2009

    [...] Perkins, the venture capital firm who originally invested in EEStor but then started backing away from their relationship almost immediately, apparently owns 20 some percent of the [...]

  5. Vinod Khosla: “Somewhat Skeptical” of EEStor Sunday, August 9, 2009

    [...] the green-leaning venture capitalists at Kleiner Perkins look like they own about 20 percent of buzzy energy storage firm EEStor, Vinod Khosla — an affiliated partner at Kleiner and head of [...]

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