OAK PARK, Michigan, December 12, 2011 /PRNewswire/ --
- Global orders of Transit Connect Electric exceed $29 million since its introduction
- New North American customers include wireless carrier, grocery chain, municipality, government facility and Ford Commercial Truck dealerships
- New European customers include government authorities, police forces and private business
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, today announced 29 new Ford Transit Connect Electric sales, including eight units in Europe and 21 units in North America, which includes a 3 unit reorder from Johnson Controls, Inc.
"This follow-on order from Johnson Controls further demonstrates the value the Transit Connect Electric brings to customers who have shorter delivery routes and frequent stop and go driving conditions," said Scott Harrison, Azure's CEO. "Fleet operators and small businesses worldwide increasingly recognize the value the Transit Connect Electric offers in helping them reduce cost and meet their environmental goals."
Azure is a leading provider of electric drive technology for light to medium-duty commercial fleet vehicles in North America and is the first authorized provider of electric and hybrid electric solutions on Ford's market leading light-and medium-duty commercial vehicles.
"With these new orders, our global Transit Connect Electric sales exceed $29 million in less than 12 months of production," continued Harrison. "And, our network of over 150 Ford dealers continues to drive our sales growth while providing outstanding service for our customers."
Azure Dynamics has agreements with over 150 Ford commercial truck dealerships in key markets across North America, 90 of which support sales and service activities for Transit Connect Electric and in six countries throughout Europe representing 13 dealerships with 57 store locations
Transit Connect Electric expands its customer base:
The 29 Transit Connect Electric vans announced today were sold to a variety of customers across North America and Europe as well as to a number of Ford commercial truck dealers who will use the vans as customer demonstrators to increase awareness and appreciation of the product. These sales include:
- Van Bortel Ford in Rochester, NY
- Verizon Wireless through Stoneham in Stoneham, MA
- Mission Valley Ford in San Jose, CA (2 units)
- Hawk Ford in Oak Lawn, IL
- Harris Ford in Lynnwood, WA (2 units)
- Metro Motors Ltd in Port Coquitlam, BC (2 units)
- National Renewable Energy Lab through Phil Long Ford in Colorado Springs, CO
- Boyer Ford in Minneapolis, MN
- Johnson Controls through Sutton Ford in Matteson, IL (3 units)
- Oak-land Ford in Oakville, Ontario
- Frontier Ford in Santa Clara, CA (2 units)
- Tuttle-Click Ford in Irvine, CA
- City of Santa Monica through Trans West Ford in Fontana, CA
- Giant Eagle through Shults Ford in Wexford, PA (2 units)
- Scottish authorities (5 units) and police forces (1 unit) through AM Phillip located in Forfar, Scotland
- Property service and maintenance company through Ardea located in Rotterdam, Netherlands (2 units)
The Transit Connect Electric utilizes an advanced lithium-ion battery from Johnson Controls to achieve a range of 50 to 80 miles depending on auxiliary usage and drive cycle and is rechargeable using either a 240-volt or standard 120-volt outlet. Commercial vans generally return to a central location at the end of each driving cycle making for easy overnight recharging. Use of the vehicles will also reduce fuel and maintenance costs, as well as reducing greenhouse gas emissions.
For more information on how Azure Dynamics powertrains are 'Driving a World of Difference,' please visit http://www.azuredynamics.com
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 light and medium duty 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 please visit http://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, customer orders, product deliveries, sales, revenue and revenue growth. 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 http://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.
For further information:
Juris Pagrabs, Vice President, Investor Relations, +1-248-298-2403 ext 7570
SOURCE Azure Dynamics Corporation