TORRANCE, CA January 9, 2012 - Enova Systems, Inc.
(NYSEAMEX: ENAand AIM: ENVand ENVS), a leading developer of
proprietary hybrid electric and all-electric drive systems
and drive system components for the emerging green commercial
vehicle market, has been invited to participate at a
Freightliner sponsored clean tech conference in Salem,
Oregon. The conference, on January 11, will explore the
increasing use of alternative fuels in the commercial vehicle
market. Sponsored by McCoy Freightliner, the conference will
look at electrification, natural gas, propane, biodiesel &
infrastructure. Financing, including grants and tax credits,
will also be discussed.
On display will be a vehicle that is the result of Enova and
Freightliner Custom Chassis Corp (FCCC) recently announced
"Green for Free™" initiative
(www.greenforfree.com). This is the 1st of many scheduled
events, which includes the Portland International Auto Show
on January 26-29th that FCCCand Enova have scheduled to
showcase this initiative.
Mike Staran, Enova President and CEOsaid "We are pleased
that our collaboration with FCCCis maturing at a rapid pace
and look forward to the industry's continued interest in
Green for Free™."
The Green for Free™ program allows fleet executives over the
life of a vehicle a cost model for an all-electric vehicle to
be the same, or better than, a diesel-powered commercial
vehicle. The savings fleets incur from the reduced
maintenance and fuel savings of the electric vehicles (EVs)
is used over a period of time to cover the incremental
expense for the technology. This is the first program that
will eliminate the overall incremental costs associated with
buying and operating an all-electric vehicle, making the
program attractive to fleets that are both large and
small.
The Green for Free™ program will utilize the FCCCAll-Electric
Walk-in Van (WIV) chassis powered by the new state of the art
Enova Omni drive system. Fleets with set routes in pickup and
delivery applications are ideal for the Green for Free™
program because they have predictable drive routes and return
each night to the company depot. FCCCis already
well-established in the market and can provide immediate
volume, which is required to reduce high-cost components,
such as batteries. Additionally, the project looks to focus
on disciplined duty cycles, utilizing 80 percent of the
battery daily, versus design for extended range.
FCCCand Enova plan to deploy a total of 3,000 alternative-fuel vehicles within a two-year time frame beginning no later than the third quarter 2012 as a result of the Green for Free™ program. ENOVAand FCCChave defined the Green for Free™ program as a new sustainable transportation model in which both companies are working in partnership with commercial fleets to offer a transportation model that provides clean, safe domestic and renewable energy.
About Enova:
Enova Systems (http://www.enovasystems.com) is a leading
supplier of efficient, environmentally friendly digital power
components and systems products. The Company's core
competencies are focused on the development and
commercialization of power management and conversion systems
for mobile applications. Enova applies unique 'enabling
technologies' in the areas of alternative energy
propulsion systems for light and heavy-duty vehicles as well
as power conditioning and management systems for distributed
generation systems. The Company develops, designs and
produces non-invasive drive systems and related components
for electric, hybrid-electric, and fuel cell powered vehicles
in both the "new" and "retrofit" vehicle
sales market. For further information, contact Enova Systems
directly, or visit its Web site at
http://www.enovasystems.com.
ENOVASYSTEMS, Inc.
1560 West 190th Street
Torrance, CA 90501
Tel: 310-527-2800
Contact: John Micek, CFO/Investor Relations
Additional Information:
This news release contains forward-looking statements
relating to Enova Systems and its products that are intended
to be covered by the safe harbor for forward-looking
statements provided by the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are statements
that are not historical facts. These statements can be
identified by the use of forward-looking terminology such as
"believe," "expect," "may,"
"will," "should," "could,"
"project," "plan," "seek,"
"intend," or "anticipate" or the negative
thereof or comparable terminology and statements about
industry trends and Enova's future performance,
operations and products. These forward-looking statements are
subject to and qualified by certain risks and uncertainties.
These and other risks and uncertainties are detailed from
time to time in Enova Systems' periodic filings with the
Securities and Exchange Commission, including but not limited
to Enova's annual report on Form 10-K for the year ended
December 31, 2010 and Form 10-Q for the fiscal quarter ended
September 30, 2011.
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