Azure Dynamics Announces Sale of 10 Balance(TM) Hybrid Electric Shuttle Buses via NJ TRANSIT
OAK PARK, MI, Nov. 23 /PRNewswire/ - Azure Dynamics Corporation (TSX: AZD)(OTC:AZDDF), a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles, today announced the sale of 10 Balance™ Hybrid Electric shuttle buses to NJ TRANSIT on behalf of six transit agencies within the state. The Azure supplied Balance™ Hybrid Electric shuttles will be used primarily in paratransit service.
The Azure vehicles are moving into service at the end of this month in the six following agencies in New Jersey:
- Burlington County Transportation
- Cumberland Area Transportation System
- Mercer County TRADE
- Middlesex County Area Transportation
- South Jersey Transportation Authority
- Somerset County Transportation
"This program with NJ TRANSIT puts our technology in the hands of six different end-users - all significant entities in their own right and all working to find efficient transportation alternatives," said Scott Harrison, Azure's chief executive officer. "We're delighted to have the opportunity to demonstrate our technology in this capacity and hopefully are seeding future orders."
Evie Wills, General Manager of American Bus & Coach, the dealership which handled the sale noted, "Aside from providing transportation equipment and service in New Jersey, our employees live here and raise our families here. Efforts taken by leading transportation providers like NJ Transit to make our air cleaner to breathe and to help create a healthier environment while at the same time providing vital services to our senior and disabled community members is a win-win situation for New Jersey and its residents. We're proud to have had an involvement."
Covering a service area of approximately 5,325 square miles, NJ TRANSIT is the nation's third largest provider of bus, rail and light rail transit, linking major points in New Jersey, New York and Philadelphia. NJ TRANSIT also administers several publicly funded transit programs for people with disabilities, senior citizens and people living in the state's rural areas who have no other means of transportation.
The Balance™ Hybrid Electric offers dependable and efficient transportation alternatives to the state of New Jersey as it continues its effort to be on the forefront of "transit - friendly land use". In recent years there has been a growing recognition that transportation plays a key role in the creation and maintenance of livable and sustainable communities.
The Azure Balance™ Hybrid Electric Drivetrain is incorporated on a Ford E450 chassis and manages the conventional 5.4 litre Triton gasoline engine and the 5-speed automatic TorqShift transmission to produce a cleaner, more fuel efficient vehicle. Since most commercial vehicle fleets spend approximately 50 percent of their total operational costs in fuel, the Balance™ Hybrid Electric's ability to improve economy by up to 40 percent provides demonstrable financial return. Additionally, the Balance™ Hybrid Electric reduces maintenance cost by up to 30 percent while typically reducing vehicle maintenance time and cost, providing opportunity for more revenue-producing trips.
The contract was managed by American Bus & Coach in Trenton, NJ. Goshen Coach in Elkhart, IN, a leading manufacturer of commercial buses, built the bodies for the buses.
For more information on how Azure Dynamics products are Driving a World of Difference, please visit www.azuredynamics.com.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTX: 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 www.azuredynamics.com.
About NJ TRANSIT
NJ TRANSIT is the nation's largest statewide public transportation system providing more than 895,000 weekday trips on 240 bus routes, three light rail lines and 12 commuter rail lines. It is the third largest transit system in the country with 165 rail stations, 60 light rail stations and more than 18,000 bus stops linking major points in New Jersey, New York and Philadelphia.
About Goshen Coach
Goshen Coach has been building specialty vehicles since 1985. Since then, the company has become one of the leaders in the commercial bus industry. Goshen Coach, Inc. is ISO Certified and has been rigorously tested to ensure many years of reliable service. Goshen Coach is represented by a nationwide network of dedicated dealers who work with each customer to customize the bus to his/her specific needs - from public transit to assisted living facilities, parking shuttles, churches and universities. Goshen Coach offers a wide variety of floor plans, including ADA accessible packages and several chassis options accommodating 12 to 39 passengers and is the industry leader in product quality and safety.
About American Bus & Coach, LLC
American Bus & Coach (www.americanbusandcoach.com) proudly serves a variety of transportation and mobility needs while offering a choice of new and pre-owned school and commercial vehicles. The complete commercial product line includes buses and vans for State, County, Municipal, Assisted Living, Adult Day Care, Community Provider, Church, Tour & Charter, Shuttle, and Para-transit applications. The corporate offices of American Bus & Coach are located in Trenton, NJ with satellite facilities in Woodbridge Township. The company which was founded in 2004 and is the exclusive New Jersey dealer for the following vehicle manufacturers: Goshen Coach, Blue Bird Commercial, Blue Bird and MicroBird by Girardin school buses, Girardin Commercial, Turtle Top, Ameritrans, Braun Vehicles, and New England Wheels.
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 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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