8th Jul 2010 07:00
PRESS RELEASE
Enova to Develop Revolutionary Electric Drive System in Collaboration with Remy Inc.
Torrance, CA, July 8, 2010 - Enova Systems, Inc (NYSE: ENA and AIM: ENV and ENVS), a leading innovator of proprietary hybrid and electric drive systems propelling the alternative energy industry, announced it will collaborate with Remy Inc. (Remy) to develop a new electric drive system based on the Omni controller and Remy HVH motor. Remy is North's America's largest independent manufacturer of advanced electric propulsion motors. Remy's patented design and assembly technology have been in production since 2006 and are currently powering vehicles around the world.
"This will allow Enova to apply its state-of-the-art Omni controller technology to Remy's advanced new HVH permanent magnet motors to deliver a high-performance solution for hybrid and all-electric vehicles," said Enova CEO and President Mike Staran. "Combined, these two technologies and the expertise behind them create a solution that will enable vehicle manufacturers and system integrators to more easily and efficiently develop reliable, high-performance drivetrains."
John Weber, Remy CEO, added, "Remy is proud to collaborate with Enova as a provider of drivetrain solutions for this market. Whenever we collaborate, we seek innovative companies like Enova that are dedicated to reliability, quality and the customer."
The companies signed a non-exclusive Letter of Intent on June 30. Said Staran, "The optimized controller-motor solution we are developing demonstrates the strong technology heritage and commitment to customers that Enova continues to bring to the hybrid and all-electric vehicle market."
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About Remy International, Inc.
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, 2009.
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