Enova Invited to Participate at Freightliner Sponsored Event
January 09 2012 - 9:00AM
Business Wire
Enova Systems, Inc. (NYSE AMEX: ENA) (AIM: ENV) (AIM: ENVS), a
leading developer of proprietary hybrid electric and all-electric
drive systems and drive system components for the emerging green
commercial vehicle market, has been invited to participate at a
Freightliner sponsored clean tech conference in Salem, Oregon. The
conference, on January 11, will explore the increasing use of
alternative fuels in the commercial vehicle market. Sponsored by
McCoy Freightliner, the conference will look at electrification,
natural gas, propane, biodiesel & infrastructure. Financing,
including grants and tax credits, will also be discussed.
On display will be a vehicle that is the result of Enova and
Freightliner Custom Chassis Corp's (FCCC) recently announced “Green
for Free™” initiative (www.greenforfree.com). This is the 1st of
many scheduled events, which includes the Portland International
Auto Show on January 26-29th that FCCC and Enova have scheduled to
showcase this initiative.
Mike Staran, Enova President and CEO, said, “We are pleased that
our collaboration with FCCC is maturing at a rapid pace and look
forward to the industry’s continued interest in Green for
Free™.”
The Green for Free™ program allows fleet executives over the
life of a vehicle a cost model for an all-electric vehicle to be
the same, or better than, a diesel-powered commercial vehicle. The
savings fleets incur from the reduced maintenance and fuel savings
of the electric vehicles (EVs) is used over a period of time to
cover the incremental expense for the technology. This is the first
program that will eliminate the overall incremental costs
associated with buying and operating an all-electric vehicle,
making the program attractive to fleets that are both large and
small.
The Green for Free™ program will utilize the FCCC All-Electric
Walk-in Van (WIV) chassis powered by the new state of the art Enova
Omni drive system. Fleets with set routes in pickup and delivery
applications are ideal for the Green for Free™ program because they
have predictable drive routes and return each night to the company
depot. FCCC is already well-established in the market and can
provide immediate volume, which is required to reduce high-cost
components, such as batteries. Additionally, the project looks to
focus on disciplined duty cycles, utilizing 80 percent of the
battery daily, versus design for extended range.
FCCC and Enova plan to deploy a total of 3,000 alternative-fuel
vehicles within a two-year time frame beginning no later than the
third quarter 2012 as a result of the Green for Free™ program.
ENOVA and FCCC have defined the Green for Free™ program as a new
sustainable transportation model in which both companies are
working in partnership with commercial fleets to offer a
transportation model that provides clean, safe domestic and
renewable energy.
About Enova:
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.
ENOVA SYSTEMS, Inc.1560 West 190th StreetTorrance, CA 90501Tel:
310-527-2800Contact: John Micek, CFO/Investor Relations
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, 2010 and Form 10-Q for the fiscal
quarter ended September 30, 2011.
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