OAK PARK, Mich., May 13, 2009 /PRNewswire-FirstCall/ — Azure Dynamics Corporation (TSX: AZD) – (“Azure”) or (the “Company”), a leading developer of state-of-the-art green technologies that address environmental and cost issues for the commercial transportation industry, announced today that four Balance(TM) Hybrid Electric trucks were sold to the University of Alberta. The trucks will be predominantly used for campus mail delivery to over 100 buildings with more than 1,000 mail delivery and pickup points daily.
“Azure Dynamics has deep roots in Western Canada, so it is very rewarding to partner with the University of Alberta and provide an environmentally friendly solution for its campus mail service,” said Scott Harrison, Azure Dynamics Chief Executive Officer. “In the past two quarters, Azure has shipped over 100 trucks into Canada making it a very significant market for our company.”
With its electric-launch assist, engine-off at idle and regenerative braking, the Azure Balance(TM) Hybrid Electric is ideally suited for the tough start and stop conditions endured by mail delivery vehicles. As a result, the University of Alberta can expect considerable benefits in terms of fuel efficiency and maintenance costs while also reducing its carbon footprint and improving its campus air quality.
Freedom Ford, Canada’s largest Ford Commercial Dealer located in Edmonton, Alberta acted as the coordinator to deliver these vehicles to the University of Alberta. Joe Holland, Freedom’s Commercial Fleet Manager, said, “With environmental stewardship a key priority for Canadian businesses both large and small, Freedom Ford has focused on the supply and delivery of Ford Motor Company hybrid technologies and now has the ability to meet the growing commercial demand by partnering with Azure Dynamics. Azure’s Ford E-series hybridization allows for a wide range of creative solutions including cargo and shuttle configurations to provide flexibility without any sacrifice in performance, durability or utility.”
“The sales to the University of Alberta are a direct result of Azure’s effort to enlist a regional dealership network,” said Jay Sandler, Azure Dynamics Vice President of Sales. “We already have more than 25 dealers in major markets like Miami, Boston, San Antonio, Los Angeles, Minneapolis, Toronto and others. These dealers are telling us that their commercial truck customers are increasingly interested in hybrid vehicle solutions that improve fuel economy and lower maintenance costs. Our Balance(TM) Hybrid Electric product addresses these needs. We expect our dealer partners to continue to bring us new customers like Freedom Ford did with University of Alberta.”
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.
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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.
Source: Azure Dynamics Corporation
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