Enova Confirms Delivery of 229 Systems in 3rd Quarter
October 23 2009 - 9:00AM
Business Wire
Enova Systems, Inc. (NYSE AMEX: ENA) (AIM: ENV) (AIM: ENVS), a
production company in the emerging alternative energy industry and
a leading developer of proprietary electric, hybrid and fuel cell
digital power management systems, confirmed today that it has
delivered 229 systems in the 3rd Quarter 2009.
Enova President and CEO Mike Staran commented, “We believe the
3rd quarter execution validates that our position in the market is
one of a leader. With our anticipated delivery of additional
systems to our core customers and our maturing relationship with
Daimler/Freightliner, we believe we should experience further
growth for the foreseeable future.”
Enova expects continued growth with its core customers,
specifically FAW and Navistar. The company also expects
acceleration in its relationship with Freightliner via the Electric
Vehicle fleet market segment. The company looks to ramp up capacity
and resources with the expected customer demands. Organizationally,
the company has begun to strengthen its technical resources and has
local resources in China to support its customers.
Additionally, the company has promoted Mr. John Mullins to Chief
Operating Officer. Mr. Mullins has been with the company nearly two
(2) years and has been instrumental in increasing Enova’s
capabilities, product design and process controls, as shown from
the recent largest delivery of systems in a single quarter. He has
20 years operations related management experience, 11 based outside
the United States. Past roles include COO/VP Operations for
American Racing; SBU global General Manager of Ingersoll-Rand's
industrial tool and pump business, based in Shanghai, China;
General Manager of TRW Automotive's North American aftermarket
business; Operations General Manager-Europe for Lucas Aftermarket,
based in Solihull, England, and a variety of positions with
Kelsey-Hayes Company in engineering and program management, based
in Tokyo, Japan, and Detroit, MI.
About Enova Systems
Enova Systems (http://www.enovasystems.com) 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.
Additional Information:
This news release contains forward-looking statements relating
to Enova Systems and its products that are intended to be covered
by the safe harbor for forward-looking statements provided by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts. These
statements can be identified by the use of forward-looking
terminology such as "believe," "expect," "may," "will," "should,''
“could,” "project," "plan,'' "seek," "intend,'' or "anticipate'' or
the negative thereof or comparable terminology and statements about
industry trends and Enova’s future performance, operations and
products. These forward-looking statements are subject to and
qualified by certain risks and uncertainties. These and other risks
and uncertainties are detailed from time to time in Enova Systems’
periodic filings with the Securities and Exchange Commission,
including but not limited to Enova's annual report on Form 10-K for
the year ended December 31, 2008.
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