OAK PARK, Michigan, December 13, 2011 /PRNewswire/ --
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 that its Transit Connect Electric van was rated by the U.S. Environmental Protection Agency as the third most fuel efficient vehicle for 2012.
"We are pleased that the Transit Connect Electric continues to be recognized as one of the top fuel efficient vehicles available for consumers and fleet operators worldwide," said Scott Harrison, CEO of Azure Dynamics. "In addition to fuel and maintenance efficiencies, more and more customers are demanding cleaner, more efficient power for their fleets. Combined with the car-like driving characteristics and reduced operating costs, the Transit Connect Electric is an ideal product for them."
The Ford 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.
A complete list of the EPA's Top 10 Fuel Efficient vehicles for 2012 can be found at: http://www.fueleconomy.gov/feg/topten.jsp.
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.
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SOURCE Azure Dynamics Corporation