Azure Dynamics Announces 21 Transit Connect Electric Sales

  • Western Michigan University places five unit order furthering its commitment to environmental stewardship
  • New North American customers include universities, energy companies, federal institutions and private businesses
  • More fleet customers have the opportunity to experience Transit Connect Electric first-hand with more Transit Connect Electric vans available throughout Azure's dealership network
  • Global orders of Transit Connect Electric exceed 460 units since its introduction in December 2010

OAK PARK, MI, Oct. 25, 2011 /PRNewswire/ - Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) ("Azure" or the "Company"), a world leader in the development and production of hybrid electric and electric components and powertrain systems for medium duty and light commercial vehicles, today announced 21 new Ford Transit Connect Electric sales, including a five unit sale to Western Michigan University. WMU is known for its successful energy conservation and sustainability programs resulting in lower operating costs and carbon footprint.

"More and more public and private businesses are recognizing the value of fuel efficiency for their fleets, especially when it also helps them meet their environmental goals," said Scott Harrison, Azure Dynamics CEO.  "These new orders, including five from Western Michigan University, a leader in energy efficiency innovation, are symbolic of the across-the-board interest we're getting in the Transit Connect Electric product.  These new sales bring our global total Transit Connect Electric orders to over 460 units."

Western Michigan University:

Recognized for its innovative approaches and results with energy reduction, and backed by generous support from the Clean Energy Coalition, Western Michigan University (WMU) in Kalamazoo, MI., placed a five unit Transit Connect Electric order for use in its campus service fleet.  WMU already operates 38 conventional Transit Connect vans. The University has other electric, hybrid, and flex-fuel vehicles in its service fleet.

WMU is highly regarded for its environmental efforts. The University operates a co-generation plant, manages the entire 150 building campus with a central energy management system, and has been following LEED (Leadership in Energy and Environmental Design) building standards for many years. WMU has consistently reduced its energy usage despite significant growth in its total square footage.

"I'm extraordinarily pleased that we're able to add these new Transit Connect Electric vehicles to our fleet and grateful to the Clean Energy Coalition for its role in helping to make this possible," said Dr. John M. Dunn, president of WMU. "These vehicles will help us continue to expand our environmental efforts and manage our resources more effectively, not only because of the economic advantage, but because it's the right thing to do for our students, faculty and staff, and the broader communities we serve."

Believing that environmental sustainability is a critical global consideration, WMU leverages its multitude of energy investments as an important educational element for its students.

Transit Connect Electric expands its customer base:

The remaining 16 Transit Connect Electric vans announced today were sold to a variety of customers across the country as well as to a number of Ford commercial truck dealers who will use the vans as customer demonstrators to increase awareness and appreciation of the product. These sales include:

  • Consumers Energy of Jackson Michigan through Suburban Ford of Sterling Heights, MI (2 units)
  • Westar Energy through Olathe Ford Lincoln in Olathe, KS (2 units)
  • Metro Motors Ltd in Port Coquitlam, British Colombia (2 units)
  • Dayton Power & Light through Beau Townsend Ford in Vandalia, OH
  • Cleco Power through Hixson Ford Lincoln Alexandria in Alexandria, LA
  • Westinghouse through Shults Ford Lincoln in Wexford, PA
  • Hogan Lovells US LLP through Koons Ford Silver Spring Ford Lincoln in Silver Spring, MD
  • Colony Ford Lincoln Sales, Inc. in Brampton, Ontario
  • Interstate Ford in Hartford, CT
  • Mid-Tenn Ford Trucks in Nashville, TN
  • Northside Ford Truck Sales, Inc in Portland, OR
  • Suburban Ford in Sterling Heights, Michigan
  • Valley Ford Truck Sales in Cleveland, OH

Azure Dynamics has agreements with over 140 Ford commercial truck dealerships in key markets across North America, 90 of which support sales and service activities for Transit Connect Electric and in six countries throughout Europe representing 13 dealerships with 57 store locations.

The Transit Connect Electric utilizes an advanced lithium-ion battery from Johnson Controls to achieve a range of 50 to 80 miles depending on auxiliary usage and drive cycle and is rechargeable using either a 240-volt or standard 120-volt outlet.  Commercial vans generally return to a central location at the end of each driving cycle making for easy overnight recharging.  Use of the vehicles will also reduce fuel and maintenance costs, as well as reducing greenhouse gas emissions.

For more information on how Azure Dynamics powertrains are 'Driving a World of Difference,' please visit www.azuredynamics.com

About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTC: 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 a variety of 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 Advisory

Certain information included in this press release constitutes forward-looking statements and information and future-oriented financial information under applicable securities legislation and is provided for the purpose of expressing management's current expectations and plans for the future.  Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

More particularly, this press release contains statements concerning Azure's anticipated: business development strategy, customer orders, product deliveries, sales, revenue and revenue growth. The forward-looking statements are based on a number of key expectations and assumptions made by Azure, including expectations and assumptions concerning achievement of current timetables for development programs and sales, target market acceptance of Azure's products, current and new product performance, availability and cost of labor and expertise, and evolving markets for power for transportation vehicles. Although Azure believes that the expectations and assumptions used to develop the forward-looking statements 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 numerous risks and uncertainties that contribute to the possibility that the projections and forecasts in the forward-looking statements will not occur and that actual performance or results could differ materially from those anticipated in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks associated with Azure's stage of development, history of losses and lack of historical product revenues, uncertainty as to product development and sales milestones being met, product defect and performance risks, competition for capital and market share, uncertainty as to target markets, dependence upon third parties, changes in environmental laws or policies, uncertainty as to patent and proprietary rights, availability and retention of management and key personnel, exchange rate and currency fluctuations, uncertainties relating to potential delays or changes in plans with respect to product development or capital expenditures, the ability of Azure to access sufficient capital on acceptable terms, and environmental and safety risks. This is not an exhaustive list and additional information on these risks and other factors that could affect Azure's operations and financial results are included in reports on file with the Canadian securities regulatory authorities and can be accessed through the SEDAR website 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.  Additionally, Azure undertakes no obligation to comment on the expectations of, or statements made by, third parties about Azure.

SOURCE Azure Dynamics Corporation




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