Remy International, Inc. Signs Long-Term Agreement with Enova Systems, Inc.
PENDLETON, Ind., March 7, 2012 /PRNewswire/ -- Remy International, Inc., North America's largest independent manufacturer of advanced electric propulsion motors, and Enova Systems, Inc. (NYSE: ENA and AIM: ENV and ENVS) have signed a long-term electric motor supply agreement. Under the five year agreement, Remy will provide its patented Remy electric motors to Enova for its all-electric drive systems.
Enova technologies is helping the world's commercial vehicle manufacturers and their fleet customers ease the transition to green transportation with complete drive system solutions that are easy to install and integrate. With more than 2,500 drive systems sold, deployed and integrated, Enova's clean electric and hybrid electric vehicle technologies are powering fleets around the globe.
"We chose Remy's electric motors for their proven durability and power density. With Enova's reputation for reliability, Remy is a perfect partner," said Mike Staran, CEO and President for Enova. "Remy has a strong and deep legacy of superior engineering and quality. The foundation of our success is to partner with companies whose innovative solutions set the standard for greater performance and less dependence on fossil fuels."
Remy International CEO John Weber said, "Remy's HVH motors will be a strong addition to Enova's excellent power systems. We are excited to grow with Enova as they continue to drive fuel efficiency and reduce or eliminate tailpipe emissions."
Remy's patented High Voltage Hairpin (HVH) technology's world-class torque and power density deliver added speed and range to electric vehicles. Companies like GM, Daimler, Allison Transmission, and AMP Electric Vehicles have chosen the Remy HVH electric motor for its superior power density, efficiency and reliability.
Today, there are more than 90,000 customer-validated Remy motors on the road. With over two billion kilometers of proven reliability, Remy's compact HVH electric propulsion motors are power-dense, lab tested and road proven.
For more details about the HVH250 Series electric motors visit the Remy website at: http://www.remyinc.com/hvh.asp.
About Remy International, Inc.:
Remy International traces its origins to 1896 when the Remy Brothers founded a wiring business in Anderson, Indiana. Today, Remy International, Inc. is a leading global manufacturer and remanufacturer of alternators, starter motors and electric traction motors, headquartered in nearby Pendleton. With global operations across four continents and 10 countries, Remy International markets products under the Remy® and Delco Remy® trademarks. Known for innovation, efficiency, quality, and best-in-class customer service and support, Remy International's products are integrated by leading industrial, specialty, automotive and heavy-duty OEMs and aftermarket providers worldwide. We Start the World & Keep It Running. www.remyinc.com
Enova Systems (NYSE AMEX: ENA and AIM: ENV and ENVS) 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 its Web site at http://www.enovasystems.com.
Contact: Remy International
Investor Contact: Eric Struik
SOURCE Remy International, Inc.
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