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Ask proponents of EEStor about the energy storage product the company is building, and they’ll tell you it’s superior to batteries in almost every way: Able to store far more power, infinitely rechargeable, (mostly) safe, and even cost-competitive.

Just don’t ask anyone if they’ve seen a working prototype of the so-called “hypercapacitors.” The capacitor-based energy product from EEStor was scheduled to start shipping last year to Zenn, an electric car company, but quietly missed the deadline. The company has been secretive (its Web site is under construction, and reveals nothing). Many have begun to wonder if hypercapacitors are vaporware — but now it appears the company may have a real chance after all.

A new deal with Lockheed Martin, one of the nation’s biggest defense contractors, should see EEStor capacitors hitting the market in late 2008. In an interview on the GM-Volt blog, a Lockheed exec says he’s evaluated the Cedar Park, Texas-based company’s production line, and thinks once it gets started making capacitors it will be able to “ramp up very quickly.”

Lockheed plans to use EEStor capacitors for military systems, while Zenn wants to put them in cars. However, the implications of a real hypercapacitor hitting the market are far broader.

In many ways, EEStor could completely replace batteries. Reportedly able to hold 10 times as much energy as lead-acid batteries at 1/10th the weight, capacitors could take the place of batteries in electric cars, provide alternative energy storage applications (such as storage for solar and wind power), and serve numerous commercial storage needs. The Lockheed partnership, which will reportedly use the capacitors for soldiers in the field, also implies that EEStor capacitors could be used in smaller consumer electronics.

All of that would be bad for other new battery startups we’ve reported on like A123 Systems (coverage here) and Deeya Energy (coverage here). However, those two companies have both received far more venture funding than EEStor, which has only pulled in $3 million from Kleiner Perkins Caufield & Byers, plus a $4 million institutional investment from Zenn Motors. Other competitor to EEStor include Maxwell Technologies, AltairNano and Skeleton NanoLab.

Hypercapacitor skeptics still abound, refuting aspects of the company’s technology, from the voltage levels it uses to the ability of barium titanate, one of EEStor’s key materials, to handle the capacitance levels EEStor is claiming. The Lockheed partnership isn’t proof of EEStor’s viability; in the above-mentioned interview, Lockheed exec Lionel Liebman admits, “We haven’t personally tested their prototypes yet.”

For a dumbed-down account of how an EEStor capacitor works, using the example of grilled-cheese sandwiches, look here.

Here’s a list of the latest developments/investment in clean-technology:

Solar powered aircraft flies through two nights — A solar-powered plane beats the record for the longest uncrewed flight, UK defence research company QinetiQ claims. In a secretive weekend mission, their craft Zephyr took off from a US military base in New Mexico and landed 54 hours later.

Endicott, a biodiesel company, raises $40M — The Houston, Texas, company is making a biodiesel plant, fueled from organic sources such as vegetable oils and animal fats. It’s considered a clean alternative to diesel petroleum. Details here.

Galten, a biodiesel startup, raises $10M –The UK’s Capital Partners led the investment in the Israel company.

Propel Biofuels raises $4.75M — The Seattle company wants to deliver biofuel pumps to existing gas stations throughout the Northwest. The funding comes from @Ventures and Nth Power.

Terrabon, a cellulosic ethanol company, raises $1.25mm in seed financing — This bring its total to $4.5mm. Cellulosic ethanol is generally considered more promising because it is cleaner and cheaper to produce than regular ethanol.

Inventor develops a small self-contained filter system that instantly cleans water — The filter, made by the UK’s Michael Pritchard, removes all particles larger than 15nm.

Canada’s General Fusion has received $1.2M for research on its fusion reactors — So far, fusion reactors have absorbed more energy than they’ve produced, so jury is out on whether this will work. There’s a good summary of Canada’s other clean-tech projects here.

ClearEdge Power, a fuel cell developer, raises $6.47M of planned $19.47M third round — Applied Ventures is listed as an investor, according to PE Week.

More money for mature clean-tech start-ups –Climate Change Capital, a UK private equity firm, has raised $200mm in new funds to invest in mature startups and buyouts.

Wind power online tool company 3Tier raises $2M — The Seattle, Wash. company lets you find breezy areas by surfing on Web from the comfort of your desk. Money comes from Good Energies.

Greenwood Technologies sells wood-burning furnace to heat your home — Sounds polluting, but the company says its furnace is efficient. The Bellevue, WA-based has raised $3M from Copia Associates, according to the Seattle PI.Virent Energy, a company making a catalytic biomass processing system for gasoline, jet fuel and diesel, raises $21M — The Madison, WI company has raised nearly $40M.Investors include Stark Investments, Venture Investors and existing backer Cargill Ventures.

Greenona.com, a green search engine — It indexes material from only green, environmental related sites. Like Google, it wants to make money through search based advertising. It is owned by SearchBlox Software, a private Richmond VA company.

Advent Solar to begin laying off workers this weekend — Advent is switching from 125 millimeter-wide solar cells to 156 millimeter cells, and so no longer needs to employ production employees. Layoffs will be fewer than 50 of its total 190, according to VentureWire (subscription required).

EEStor’s grand claims for a new electrochemical battery — This company is famously hyped. The AP is the latest to report on the company, which says it can replace electrochemical batteries for things like automobiles. We’ve tried reaching the company, but it has declined comment. Supposedly, an electric car would need a five minute charge and could then run for 500 miles without gasoline. However, there are more people getting skeptical this is going to work. CNET reports delays. The company is backed with $3 million from Silicon Valley venture firm Kleiner Perkins Caufield & Byers. ZENN Motor has invested another $8 million, hoping to use the technology.

SynapSense to reduce energy use in data centers — This is borderline clean-tech. Any new company serving the data center is supposed to be more efficient, and so by default it uses less power. Claiming to be clean-tech is a stretch, but we’ll go along with it because on the margins, it is. The Folsom, Calif. company has announced a $10M second round of capital, led by Emerald Technology Ventures, and including American River Ventures, Nth Power and DFJ Frontier.

Lysanda raises GBP 1M to develop “Eco-Log” — The UK company monitors vehicle emissions. Investors include the Sustainable Technology Fund.

Solar thermal and photovoltaic supplier, Solarcentury, has raised a GBP 13.5M round of financing — It is co-led by Zouk Ventures and Good Energies. Vantania Holdings Ltd and Foursome Investments, along with existing investors VantagePoint Venture Partners and Scottish and Southern Energy, also participated.

EEStor, the obsessively secret company backed by venture capital firm Kleiner Perkins, will unveil its new battery technology this year — promising to make electric vehicles much more compelling.

Technology Review has the scoop:

The company boldly claims that its system, a kind of battery-ultracapacitor hybrid based on barium-titanate powders, will dramatically outperform the best lithium-ion batteries on the market in terms of energy density, price, charge time, and safety. Pound for pound, it will also pack 10 times the punch of lead-acid batteries at half the cost and without the need for toxic materials or chemicals, according to the company.

The implications are enormous and, for many, unbelievable. Such a breakthrough has the potential to radically transform a transportation sector already flirting with an electric renaissance, improve the performance of intermittent energy sources such as wind and sun, and increase the efficiency and stability of power grids–all while fulfilling an oil-addicted America’s quest for energy security.

The ZENN car (pictured atop) will be the first commercial application of the Texas-based EEStor’s new energy system.

Kleiner led a $3 million round of venture capital into the company. We wrote about it here. Morton Topfer, former vice chairman of Dell and mentor to Michael Dell, is on the board.