9th May 2007 07:00
Enova Systems, (AMEX:ENA) (AIM:ENV) (AIIM:ENVS), a leadingproducer of proprietary electric, hybrid and fuel cell digital powermanagement systems, is pleased to announce that it will begin shippingproduction level parts to the Th!nk Group in June 2007. Enova, aproduction company in an emerging industry, will supply a PowerControl Unit (PCU) to the Th!nk Group for use in their productionelectric vehicle. Enova's unit converts and regulates high voltagepower to lower voltages and transfers power throughout the drivesystem and the battery, and also assists in energy recovery duringregenerative braking. £ Mike Staran, Enova's Executive Vice President said: "Enova is verypleased that the Th!nk vehicle is now entering the production phase.We anticipate that the vehicle will gain rapid worldwide acceptance." £ Enova has partnered with EDAG, to support the technical design,development and validation efforts. EDAG, the world's largestindependent development partner, develops customized concepts andsolutions, optimized for production, to meet the mobility needs of thefuture. Besides development, design and engineering, EDAG'scapabilities extend to part validation for production systems from asingle source. £ The Th!nk Group, who recently obtained approximately US$28,500,000from the Investment community, anticipates vehicle production toaccelerate quickly throughout the European regions. The Th!nk Globalis a world leading competence centre for design, development, assemblyand licensing of modular environmental friendly vehicles andtechnology. The second generation TH!NK City vehicle is a completelynew experience that combines award-winning design with comfort andconvenience features that make it a pleasure to drive. Th!nk City nowhas new battery technology which should lead to a driving rangeof180km, with a top speed of 100 - 110kph and a 0-50kph accelerationof seven (7) seconds. £ Th!nk expects to produce one of the largest fleets of electricvehicles in the world. The new vehicle is expected to be launched inNorway in 2007, and selected international markets in 2008. Th!nk'smission is to create the most environmentally friendly vehicles in theworld in a commercially successful way. More information about Th!nkcan be found on http://www.think.no/. £ About Enova: £ Enova Systems (http://www.enovasystems.com) is a leading supplierof efficient, environmentally friendly digital power components andsystems products. The Company's core competencies are focused on thedevelopment and commercialization of power management and conversionsystems for mobile applications. Enova applies unique 'enablingtechnologies' in the areas of alternative energy propulsion systemsfor light and heavy-duty vehicles as well as power conditioning andmanagement systems for distributed generation systems. The Companydevelops, designs and produces non-invasive drive systems and relatedcomponents for electric, hybrid-electric, and fuel cell poweredvehicles in both the "new" and "retrofit" vehicle sales market. Forfurther information, contact Enova Systems directly, or visit its Website at http://www.enovasystems.com. £ Additional Information: £ This news release contains forward-looking statements relating toEnova Systems and its products that are intended to be covered by thesafe harbor for forward-looking statements provided by the PrivateSecurities Litigation Reform Act of 1995. Forward-looking statementsare statements that are not historical facts. These statements can beidentified 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 orcomparable terminology and statements about industry trends andEnova's future performance, operations and products. Theseforward-looking statements are subject to and qualified by certainrisks and uncertainties. These and other risks and uncertainties aredetailed from time to time in Enova Systems' periodic filings with theSecurities and Exchange Commission, including but not limited toEnova's annual report on Form 10-K for the year ended December 31,2006. Copyright Business Wire 2007Related Shares:
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