TORRANCE, CA January 26, 2012 - Enova Systems, Inc. (NYSE AMEX: ENA and AIM: ENV and ENVS), a leading developer of proprietary hybrid electric and all-electric drive systems and drive system components for the emerging green commercial vehicle market is pleased to announce that one of the first pre- production vehicles resulting from Enova's and Freightliner Custom Chassis Corp's (FCCC) recently announced Green for Free™ initiative (www.greenforfree.com) will be on display at the Portland International Auto Show January 26-29th.
The Portland International Auto Show estimates that around 150,000 attendees will have the opportunity to view the latest Green, Alternative Fuel and Electric Vehicle Concepts at the Auto Show's Eco Center. In its second year as one of the largest Eco Centers in the nation, visitors will be able to find out more about the latest technology in vehicle charging, solar power and a large range of electric and electric hybrids and alternative fuel vehicles.
The Green for Free™ Program is designed to allow fleet executives to operate full 100% electric commercial vehicles (EVs) for similar life cycle costs as those of diesel-powered commercial vehicles. The anticipated savings fleets are expected to realize from the reduced maintenance and fuel cost of electricity of the electric vehicles are used over a period of time to cover the incremental expense for the technology. Fleet vehicles targeted with the Green for Free™ Program stand out as possessing unique characteristics that make them clear beneficiaries of electric drive technology. With more than 16.3 million vehicles in operation, the nation's fleets possess enough capacity to drive initial ramp-up scale in the EV OEM supply chains. This is the first Program that is engineered to 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.
FCCC and Enova plan to gradually deploy a total of 3,000 alternative-fuel vehicles beginning in the second half of 2012 as a result of the Green for Free™ Program. ENOVA and FCCC have 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 our Web sites at
www.enovasystems.com
ENOVA SYSTEMS, Inc.
1560 West 190th Street, Torrance, CA 90501
Tel: 310-527-2800, Contact: John Micek, CFO/Investor
Relations
About Green for Free™:
The Green for Free™ Program intends to allow fleet executives
to purchase all-electric vehicles for the cost of a
diesel-powered commercial vehicle. The projected savings
fleets incur from the reduced maintenance and fuel savings of
the electric vehicles (EVs) are then used over a period of
time to cover the incremental expense for the technology.
FCCC and Enova plan to gradually deploy a total of 3,000
alternative-fuel vehicles beginning in the second half of
2012 as a result of the Green for Free™ Program. The Green
for Free™ Program will utilize the FCCC All-Electric Walk-in
Van (WIV) chassis powered by the Enova drive system. FCCC is
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. For further information, contact Enova Systems
directly, or visit our Web site at:
www.greenforfree.com
About Freightliner Custom Chassis
Corporation:
Freightliner Custom Chassis Corporation manufactures premium
chassis for the motorhome, delivery walk-in van, and school
bus and shuttle bus markets. Freightliner Custom Chassis
Corporation is a subsidiary of Daimler Trucks North America
LLC, a Daimler company. For further information, visit the
Freightliner Custom Chassis Corporation website at
www.freightlinerchassis.com
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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