OAK PARK, Michigan, September 18 /PRNewswire/ -- 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 one of the largest baking companies in the USA for two Balance(TM) Hybrid Electric Ford E-450 Walk In Vans. The new orders represent the 145th and 146th Balance(TM) Hybrid Electric sales since their launch in May 2008.
"This sale is another milestone for Azure Dynamics. This is the first purchase of hybrid electric route delivery trucks by the baking industry in North America," said Scott Harrison, Azure's Chief Executive Officer. "This order, along with the previous 144 Balance(TM) Hybrid Electric orders, again demonstrates the depth and functionality of Azure's parallel hybrid system, and also validates the broad application of our technology across various industries."
"Bakers are facing record input costs - both commodities and fuel," said Robert Mackie, President of the American Bakers Association. "As an industry with the fourth largest fleet of vehicles in the country, we are exploring a multitude of new technologies that will allow us to deliver the freshest possible products in the most cost effective manner. The new hybrid technologies have exciting potential to accomplish these important goals."
With soaring fuel costs, many forward-looking companies are taking innovative approaches to lower the operating costs of their route delivery trucks by using Azure's Balance(TM) Hybrid Electric Technology. The technology improves fuel economy by up to 40%, while reducing the carbon foot print by approximately 30%, creating a significant positive impact on the environment and air quality. In addition, Azure's Balance(TM) Hybrid Electric technology reduces vehicle maintenance costs by approximately 30% thereby further reducing the overall fleet operating costs.
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 http://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 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 http://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: ON AZURE, CONTACT: Stuart Skinner, Richard Kenny, Tel: +44-207-260-1000, Numis Securities Limited as Nominated Adviser to the Company; David Poutney, Tel: +44-207-260-1000, Numis Securities Limited as Broker to the Company/(AZD)
/For further information: ON AZURE, CONTACT: Stuart Skinner, Richard Kenny, Tel: +44-207-260-1000, Numis Securities Limited as Nominated Adviser to the Company; David Poutney, Tel: +44-207-260-1000, Numis Securities Limited as Broker to the Company/ (AZD)
