Azure Dynamics receives hybrid bus order
23 Junho 2008 - 1:14PM
UK Regulatory
Pennsylvania Department of Transportation orders hybrid buses from Azure
Dynamics
OAK PARK, MI, June 23 /CNW/ - Azure Dynamics Corporation (TSX: AZD, LSE:
ADC & OTCQX: AZDDF) - ("Azure" or the "Company"), a leading developer of
hybrid electric and electric powertrains for commercial vehicles, announced
today it has received an order from the Pennsylvania Department of
Transportation ("PennDOT") for 10 hybrid buses with an option for 15
additional buses at a later date. PennDOT has ordered the eighteen passenger
Azure/StarTrans Hybrid Para-transit Citibus for delivery in 2008.
"Azure's hybrid technology continues to gain traction with proactive
fleet managers who value our performance, significant fuel economy
improvements, emissions reductions and long-term maintenance cost savings,"
said Scott Harrison, Azure Dynamics' Chief Executive Officer. "We see the
PennDOT order as further validation that our technology answers stringent
market demands."
The Azure Series-Hybrid CitiBus system specified by PennDOT has unique
attributes like engine-off driving while electronically supporting key
ancillary functions like air conditioning, power steering and braking. The
powertrain, with a GM Vortec 4.8L engine, offers over a 40% improvement in
fuel economy, and a 30% reduction in carbon emissions in city conditions. The
powertrain also offers a 25% reduction in engine maintenance and a 75%
reduction in brake maintenance versus conventionally equipped competitors.
At a press conference at the Pennsylvania capital on Thursday Governor
Edward G. Rendell said, "The only way to secure our energy future is to take
steps now that allow Pennsylvania to be more energy efficient and conserve our
natural resources. We cannot reduce our dependence on foreign oil unless we
make better use of the alternative transportation options and invest in our
own home-grown fuel resources as proposed by the PennSecurity Fuels
Initiative."
The Governor further stated that "Energy independence begins at home, and
commuters can do their part to help reduce energy consumption and reduce
Pennsylvania's dependence on foreign oil by relying more on public transit or
car pooling."
The first ten Azure Dynamics Para-transit hybrid buses ordered by PennDOT
will be operated by Rabbit Transit in York County, PA and will expand its
shared-ride program.
The PennDOT contract was awarded via Arcola Bus Sales. The Azure bus
purchase advances PennDot's strategic focuses of balancing social, economic
and environmental concerns in transportation programs for optimal
effectiveness and efficiency of services offered.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) (LSE: ADC) (OTCQX: 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 various 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 please visit www.azuredynamics.com.
The TSX and LSE Exchanges do not accept responsibility for the adequacy
or accuracy of this release.
Forward-looking Statements
This press release contains forward-looking statements. More
particularly, this press release contains statements concerning Azure's
business development strategy, projected commercial revenues and product
deliveries.
The forward-looking statements are based on certain key expectations and
assumptions made by Azure, including expectations and assumptions concerning
achievement of current timetables for development programs, target market
acceptance of Azure's products, current and new product performance,
availability and cost of labour and expertise, and evolving markets for power
for transportation vehicles.
Although Azure believes that the expectations and assumptions on which
the forward-looking statements are based 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
inherent risks and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and risks. These
include, but are not limited to, the risks associated with Azure's early stage
of development, lack of product revenues and history of losses, requirements
for additional financing, uncertainty as to commercial viability, uncertainty
as to product development and commercialization milestones being met,
uncertainty as to the market for Azure's products and unproven acceptance of
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uncertainty as to target markets, dependence upon third parties, changes in
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rights, availability of management and key personnel, and acquisition
integration risk. These risks are set out in more detail in Azure's annual
information form which can be accessed at 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.
For further information: FOR MORE INFORMATION ON AZURE, CONTACT: Ryan Carr,
Chief Financial Officer, (248) 298-2403, Email: rcarr(at)azuredynamics.com;
Pat Liebler, Liebler!MacDonald, (313) 832-4376, Email:
pat(at)lieblergroup.com; David Poutney, Stuart Skinner, Richard Kenny, Tel:
+44 207 260 1000, Numis Securities Limited, Nominated Adviser to the Company
(AZD. AZDDF ADC)
END
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