30th Oct 2006 07:00
Enova Systems, (AMEX:ENA) (AIM:ENV) (AIM:ENVS), an early stageproduction company in an emerging industry and a leading developer ofproprietary electric, hybrid and fuel cell digital power managementsystems, is pleased to announce that it has partnered with ICCorporation to provide hybrid systems for their new line of hybridcommercial buses. The innovative new buses were introduced last weekin Chicago at BusCon, America's largest commercial bus conference. TheHybrid option on the buses will be completed with Enova's PostTransmission Parallel Hybrid Drive System. The Post TransmissionSystem is available with either a Charge Depleting or ChargeSustaining Battery Technology. The technologies are expected toimprove fuel economy/miles per gallon up to 100%. £ The Post Transmission System is one in which the Electric DriveSystem is integrated behind the Transmission and is designed to beinstalled as a "drop in," fully integrated turnkey fashion into an OEMproduction line, or retrofitted in post vehicle production in amodular, "as-needed" basis. Enova's Post Transmission System hasproven, in other applications, to be a non-invasive system that hasrequired little to no modification to chassis, body, instrument panel,etc. In addition, the system does not intrude on, nor require anyalteration to the Engine Control/Communication system, thus avoidingany emissions certification issues. The system monitors, but does notimpact anything that within the existing engine. £ "Our unique Post Transmission System offers customers anon-invasive solution to enter the Hybrid Vehicle Market in either theretrofit or new vehicle segment. Being the only supplier of thistechnology offers us and our customers a tremendous competitiveadvantage" stated Mike Staran, Enova's Vice President of Marketing. £ The bus market in which IC Corporation plans to compete isapproximately 18,000 units annually. The market can be broken into 2primary segments - public and private. There is an estimated 60/40split in favor of the public buyers. It is now estimated that 30% ofthe buses purchased for public transit are some form ofhybrid/alternate fuel vehicles and analysts project this number togrow significantly over the next 5 years. £ This is the third major hybrid bus announcement from ICCorporation and Enova this year. In July, the company unveiled thenation's first hybrid school bus at a school bus industry show in NewYork. In August, IC Corporation was awarded a competitive bid toprovide 19 hybrid school buses to 11 states. All of IC Corporation'shybrid buses integrate Enova's non-invasive Hybrid System and haveshown significant improvements in performance, fuel economy andemissions reductions. £ "Hybrid buses provide distinct advantages. Reduced fuelconsumption and lowered emissions, makes for an environmentallyfriendly solution. Perhaps even more important, the significantincrease in fuel efficiency can dramatically improve the profitabilityof many businesses" says Ed Riddell, President and CEO of Enova. £ About IC Corporation £ IC Corporation, the nation's largest integrated school bus andcommercial bus manufacturer, is an affiliate of International Truckand Engine Corporation. International produces school bus chassis,mid-range diesel engines, medium trucks, heavy trucks, severe servicevehicles, and is a provider of parts and service sold under theInternational brand. Both IC and International are affiliates ofNavistar International Corporation (NYSE:NAV). Additional informationis available site at: www.ic-corp.com. £ 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 31,2005. Copyright Business Wire 2006Related Shares:
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