RøhneSelmer, the market leader in Norway, places 100 unit Transit
Connect Electric follow-up order validating product's unique
environmental and performance values for customers
The all-electric, zero-emission Transit Connect Electric has a targeted
range of up to 130km (80 miles) per full charge, and is ideal for fleet
owners with well-defined routes
- The RohneSelmer 100 unit order is the largest Transit Connect Electric order to date and continues a pattern of large customer follow-on orders for Azure's portfolio of efficient and environmentally friendly products
OAK PARK, MI, Aug. 29, 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 light and medium duty commercial vehicles, announced today that its Norwegian Ford dealership, RøhneSelmer, has signed an order for an additional 100 Transit Connect Electric vans. RøhneSelmer's original order, in March of this year, was for 58 units for various clients, among them Norway Post, known in Norway as "Posten Norge AS".
"We've worked exclusively with Ford for more than fifty years and know that with Azure Dynamics' technology, the Transit Connect Electric will meet the environmental requirements and tough weather conditions of the Norwegian market," said Anders Gadsboll, Sales Director of RhoneSelmer. "We sold 50 Transit Connect Electric vans before the first unit was delivered to us and we're confident we'll sell many, many more the remainder of this year and beyond. It's the right product for today's Norwegian market."
Azure and Ford Motor Company brought the Transit Connect Electric to the European market this year at a time when increasing numbers of fleet operators in the U.S. and Europe are demanding the benefits of efficient, clean alternative power for their vehicles. With 28 kWh of power to call on, Transit Connect Electric has a top speed of 120 km/h (75 mph) and a range of up to 130 km (80 miles) on a full charge.
"Norway has a large customer base with a good understanding of and appreciation for electric vehicles, which RøhneSelmer obviously recognizes," said Ricardo Espinosa, Managing Director of European Operations for Azure Dynamics. "The Transit Connect Electric can play an important role in the Norwegian market and help to achieve Norway's aggressive environmental goals."
The Transit Connect Electric offers Norwegian customers the opportunity to eliminate petroleum fuel bills, take advantage of car-pool lanes and to lower overall maintenance and operating costs. The vehicle is an ideal choice for battery electric power thanks to its unique combination of car-like driving dynamics, generous cargo capacity, easy accessibility and low operating costs. Transit Connect Electric can be recharged using standard European 220-volt outlets in approximately eight hours.
"Transit Connect Electric is operating on a global stage and this early repeat order from RøhneSelmer is further validation of the value it brings to customers like Norway Post and others with shorter delivery routes and frequent stop and go driving conditions," said Scott Harrison, Azure's CEO. "We're delighted that RøhneSelmer has given us this additional vote of confidence and we're confident that the Transit Connect Electric will more than live up to their expectations."
The Transit Connect Electric went into production in Europe in June this year following its successful production launch in North America in April, 2011.
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 on how Azure Dynamics products are Driving a World of Difference, 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 and product deliveries. 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