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Attention Business Editors
Azure Dynamics Force Drive(TM) Technology Powers New Ford Transit Connect Electric
<<
- Ford and Azure Dynamics partner to create electric version of 2010
North American Truck of the Year, the Ford Transit Connect Electric
- Azure Dynamics will provide patented Force Drive(TM) electric
powertrain to create zero emission vehicle with up to 80 miles range
per charge
- Partnership builds on existing business relationships between Ford,
Azure Dynamics and battery supplier Johnson Controls-Saft
- Transit Connect Electric to deliver lower costs and zero emissions
for targeted commercial delivery fleets
>>
CHICAGO, Feb. 9 /CNW/ - As increasing numbers of fleet operators and
individual vehicle owners are demanding the benefits of clean, efficient
alternative power for their vehicles, Azure Dynamics Corporation (TSX: AZD)
has collaborated with Ford Motor Company to introduce the Transit Connect
Electric, a pure electric powered version of the 2010 North American Truck of
the Year. The Transit Connect Electric makes its debut at the Chicago Auto
Show tomorrow.
Azure Dynamics, a leading developer of hybrid electric and electric
powertrains for commercial vehicles, is providing its patented Force Drive(TM)
battery electric powertrain to replace the gasoline engine in the popular
Transit Connect. Force Drive(TM) components have previously been deployed in
more than 40 vehicle integrations and have more than 25 million miles of
on-the-road experience. Azure has been designing and developing electric drive
systems for more than 20 years.
"The Transit Connect Electric is an ideal vehicle for our Force Drive(TM)
technology," said Scott Harrison, Chief Executive Officer of Oak Park, MI,
based Azure Dynamics. "Force Drive(TM) is especially effective for fleets with
predictable short range routes and frequent stop-and-go urban driving
conditions that Transit Connect Electric vehicles are likely to encounter.
We'll be able to offer owners lower operating and maintenance costs and zero
emissions in a vehicle that can go up to 80 miles on a charge," Harrison said.
"Fleet owners are demanding greater operating efficiency in cleaner
vehicles. The Transit Connect Electric delivers on both fronts," said Gerry
Koss, Ford fleet marketing manager. "As the first product in our aggressive
electrified vehicle plan, we expect the Transit Connect Electric to be an
immediate hit and keep Ford squarely on track to leadership in the electric
vehicle market."
Force Drive's(TM) lithium-ion battery, provided by Johnson Controls-Saft,
is expected to last the life of the Transit Connect Electric and replaces all
the energy provided by gasoline in the standard Transit Connect. When the
vehicle is operating, battery power is provided to the drive motor through the
electric powertrain's motor controller which uses throttle input from the
driver to convert DC power supplied by the battery into three precisely timed
signals used to drive the motor.
Integration of the battery has been done without infringing on interior
passenger room and cargo space and, other than Azure's Force Drive(TM) badge
on the exterior of the vehicle and information provided on the instrument
cluster, the Transit Connect Electric will be identical to the standard
Transit Connect vehicle.
The Transit Connect Electric represents a continuation of Azure's ongoing
relationship with Ford Motor Company. Azure's Balance(TM) Hybrid Electric
medium-duty commercial vehicle, a favorite delivery vehicle for a number of
major national fleets including FedEx Express, AT&T and Purolator Courier, is
built on the Ford E-450 cutaway and strip chassis as is the Balance(TM) Hybrid
Electric shuttle bus.
"Our goal at Azure is to 'be part of the solution' and we think the
Transit Connect Electric meets that challenge in every way," said Harrison.
"We're delighted to be partnering with Ford on this product and we're
confident the market is going to be delighted with the result of our
collaboration. It's exactly the right product at the right time for today's
commercial vehicle market."
For more information about Azure Dynamics and its products, please visit
www.azuredynamics.com.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) 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 Exchange does 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 Azure's technology, competition for capital, product
market and personnel, uncertainty as to target markets, dependence upon third
parties, changes in environmental laws or policies, uncertainty as to patent
and proprietary 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.
-30-
/For further information: ON AZURE, CONTACT: Mike Elwood, Vice President
- Marketing, (416) 953-4134, Email: melwood@azuredynamics.com; Patrick
Liebler, Liebler Group, (248) 229-4418, Email: pat@lieblergroup.com/
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