22nd Jan 2007 07:00
Enova Systems (AMEX:ENA) (AIM:ENV) (AIM:ENVS), the leadingdeveloper of proprietary electric, hybrid and fuel cell digital powermanagement systems and an early stage production company in anemerging industry, is pleased to announce that it has entered into asignificant production supply agreement with Smith Electric Vehicles,a division of The Tanfield Group Plc (TAN). £ Enova has worked in partnership over several months with Tanfieldto develop two high performance electric drive train systems for SmithElectric Vehicles zero emissions vans and trucks, respectively. Enovaanticipates executing an exclusive agreement to supply a minimum of200 electric drive trains to Tanfield during 2007. Tanfield willintegrate a 120kw electric drive system into the Smith Newton, theworld's first zero emission 7.5t truck. A 90kw electric drive systemwill be installed in the Smith Edison, the world's first all-electric3.5t van. Enova will also supply electric drive trains for a 12 tonversion of the Smith Newton, specifically designed for the NorthAmerican market. £ Mike Staran, Enova's Executive Vice President, said: "Thisproduction agreement with Tanfield consolidates our position as amarket leader in Europe. More importantly, the development of a SmithNewton for North America offers an enormous opportunity for furthervolume sales, through the supply of drive trains for Smith vehicles inthe USA and Canada. Tanfield is rapidly establishing its position asthe world's leading commercial electric vehicle manufacturer. Enova isconvinced that there is significant untapped demand forbattery-powered vehicles worldwide, and that Tanfield's vehicles canexploit this opportunity." £ Mr. Staran added: "The volume potential and market size, with acustomer such as Tanfield, is significant in both the short and longterm. We are delighted that Tanfield has selected us as their partnerand we look forward to further optimizing our relationship with them." £ Darren Kell, Chief Executive of The Tanfield Group Plc, said: "TheEnova system offers us a best-of-breed solution for our class-leadingelectric vehicles. We will work closely with Enova on the developmentof future products in the Smith Electric Vehicles portfolio, for bothEurope and North America." £ In December 2006, Smith Electric Vehicles unveiled Newton, theworld's first high performance 7.5 ton zero emission electric vehicle.The Smith Newton is the first ever vehicle in its class that cancompete with the diesel equivalent in an urban environment - butwithout the polluting effects of nitrogen oxide, particulate matterand CO2 emissions. £ A typical Smith Electric vehicle can achieve ranges of over 100miles between battery charges at speeds of 50 mph. Because they arezero emission, Smith Electric Vehicles are exempt from urbancongestion charges in European cities such as London, and also qualifyfor other UK tax breaks and costly license exemptions. The 3.5 and 7.5ton vehicles are primarily designed as delivery vehicles for urbanareas. The vehicles are extremely quiet and make a proven positivecontribution to air quality in city centres. £ Smith has already supplied the first Newton vehicles to leadingbusiness-to-business express, operator TNT Express UK and contractlogistics operator Ceva Logistics. TNT alone has indicated that itcould require up to 200 Newton vehicles for the UK over the next 2years. £ About Smith Electric Vehicles £ Smith Electric Vehicles, based in Tyne & Wear, United Kingdom, isboth the world's most established electric vehicle manufacturer andthe world's largest producer of road-going commercial electricvehicles. £ Established in 1920, it has been a market leader for more thanseven decades. Smith vehicles are used for a wide range of industrialand commercial applications including urban delivery, healthcare,airport and municipal services. It has a worldwide customer base ofmore than 500 clients, including major supermarkets and globallogistics companies. £ Smith is a trading division of The Tanfield Group Plc. £ About Enova Systems, Inc. £ Enova Systems is a leading supplier of efficient, environmentallyfriendly digital power components and systems products. The Company'score competencies are focused on the development and commercializationof power management and conversion systems for mobile and stationaryapplications. Enova applies unique 'enabling technologies' in theareas of alternative energy propulsion systems for light andheavy-duty vehicles as well as power conditioning and managementsystems for distributed generation systems. The Company develops,designs and produces drive systems and related components forelectric, hybrid-electric, and fuel cell powered vehicles. For furtherinformation, contact Enova Systems directly, or visit its Web site athttp://www.enovasystems.com. £ 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. This forward-looking information should be considered only inconnection with the aforementioned risk factors. Enova assumes noobligation to update such forward-looking statements. Copyright Business Wire 2007Related Shares:
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