OAK PARK, Michigan,
August 29, 2011 /PRNewswire/ --
- RøhneSelmer, the market leader in Norway, places 100 unit Transit Connect
Electric follow-up order validating product's unique environmental
and performance values for customers
- The all-electric, zero-emission Transit Connect Electric has a
targeted range of up to 130km (80 miles) per full charge, and is
ideal for fleet owners with well-defined routes
- The RohneSelmer 100 unit order is the largest Transit Connect
Electric order to date and continues a pattern of large customer
follow-on orders for Azure's portfolio of efficient and
environmentally friendly products
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) ("Azure" or
the "Company"), a world leader in the development and production of
hybrid electric and electric components and powertrain systems for
light and medium duty commercial vehicles, announced today that its
Norwegian Ford dealership, RøhneSelmer, has signed an order for an
additional 100 Transit Connect Electric vans. RøhneSelmer's
original order, in March of this year, was for 58 units for various
clients, among them Norway Post, known in Norway as "Posten Norge AS".
"We've worked exclusively with Ford for more than fifty years
and know that with Azure Dynamics' technology, the Transit Connect
Electric will meet the environmental requirements and tough weather
conditions of the Norwegian market," said Anders Gadsboll, Sales
Director of RhoneSelmer. "We sold 50 Transit Connect Electric
vans before the first unit was delivered to us and we're confident
we'll sell many, many more the remainder of this year and beyond.
It's the right product for today's Norwegian market."
Azure and Ford Motor Company brought the Transit Connect
Electric to the European market this year at a time when increasing
numbers of fleet operators in the U.S. and Europe are demanding the benefits of
efficient, clean alternative power for their vehicles. With
28 kWh of power to call on, Transit Connect Electric has a top
speed of 120 km/h (75 mph) and a range of up to 130 km
(80 miles) on a full charge.
"Norway has a large customer
base with a good understanding of and appreciation for electric
vehicles, which RøhneSelmer obviously recognizes," said
Ricardo Espinosa, Managing Director
of European Operations for Azure Dynamics. "The Transit
Connect Electric can play an important role in the Norwegian market
and help to achieve Norway's
aggressive environmental goals."
The Transit Connect Electric offers Norwegian customers the
opportunity to eliminate petroleum fuel bills, take advantage of
car-pool lanes and to lower overall maintenance and operating
costs. The vehicle is an ideal choice for battery electric power
thanks to its unique combination of car-like driving dynamics,
generous cargo capacity, easy accessibility and low operating
costs. Transit Connect Electric can be recharged using
standard European 220-volt outlets in approximately eight
hours.
"Transit Connect Electric is operating on a global stage and
this early repeat order from RøhneSelmer is further validation of
the value it brings to customers like Norway Post and others with
shorter delivery routes and frequent stop and go driving
conditions," said Scott Harrison,
Azure's CEO. "We're delighted that RøhneSelmer has given us
this additional vote of confidence and we're confident that the
Transit Connect Electric will more than live up to their
expectations."
The Transit Connect Electric went into production in
Europe in June this year following
its successful production launch in North
America in April, 2011.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) is a world leader
in the development and production of hybrid electric and electric
components and powertrain systems for commercial vehicles. Azure is
strategically targeting the commercial delivery vehicle and shuttle
bus markets and is currently working internationally with a variety
of partners and customers. The Company is committed to providing
customers and partners with innovative, cost-efficient, and
environmentally-friendly energy management solutions. For
more information on how Azure Dynamics products are Driving a World
of Difference, please visit http://www.azuredynamics.com.
The TSX Exchange does not accept
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Advisory
Certain information included in this press release
constitutes forward-looking statements and information and
future-oriented financial information under applicable securities
legislation and is provided for the purpose of expressing
management's current expectations and plans for the
future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes, such as
making investment decisions.
More particularly, this press release
contains statements concerning Azure's anticipated: business
development strategy and product deliveries. The forward-looking
statements are based on a number of key expectations and
assumptions made by Azure, including expectations and assumptions
concerning achievement of current timetables for development
programs and sales, target market acceptance of Azure's products,
current and new product performance, availability and cost of labor
and expertise, and evolving markets for power for transportation
vehicles. Although Azure believes that the expectations and
assumptions used to develop the forward-looking statements are
reasonable, undue reliance should not be placed on the
forward-looking statements because Azure can give no assurance that
they will prove to be correct.
Since forward-looking statements address future events and
conditions, by their very nature they involve numerous risks and
uncertainties that contribute to the possibility that the
projections and forecasts in the forward-looking statements will
not occur and that actual performance or results could differ
materially from those anticipated in the forward-looking
statements. These risks and uncertainties include, but are not
limited to, the risks associated with Azure's stage of development,
history of losses and lack of historical product revenues,
uncertainty as to product development and sales milestones being
met, product defect and performance risks, competition for capital
and market share, uncertainty as to target markets, dependence upon
third parties, changes in environmental laws or policies,
uncertainty as to patent and proprietary rights, availability and
retention of management and key personnel, exchange rate and
currency fluctuations, uncertainties relating to potential delays
or changes in plans with respect to product development or capital
expenditures, the ability of Azure to access sufficient capital on
acceptable terms, and environmental and safety risks. This is not
an exhaustive list and additional information on these risks and
other factors that could affect Azure's operations and financial
results are included in reports on file with the Canadian
securities regulatory authorities and can be accessed through the
SEDAR website at http://www.sedar.com.
The forward-looking statements contained in this press
release are made as of the date hereof and Azure undertakes no
obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws. Additionally, Azure undertakes no
obligation to comment on the expectations of, or statements made
by, third parties about Azure.
For further information:
Ricardo Espinosa,
Managing Director European Operations, +44(0)1438-729819
Email: respinosa@azuredynamics.com
Juris Pagrabs, Vice President,
Investor Relations, +1(248)298-2403 ext 7570
Email: jpagrabs@azuredynamics.com
Patrick Liebler,
Liebler Group, +1-248-229-4418
Email: pat@lieblergroup.com