12th May 2005 07:01
Turbo Genset Inc.12 May 2005 Thursday 12th May 2005 Understanding with Lotus Engineering Turbo Genset is pleased to announce today that it has signed a Memorandum ofUnderstanding with Lotus Engineering for the design and supply of a prototypepassenger vehicle hybrid electrical drive system. The system will be an integralpart of the hybrid electrical vehicle programme of a major motor vehiclemanufacturer. Hybrid electric vehicles (HEVs) are powered by a combination of electric motors(and associated power electronic drives) and diesel or gasoline engines. HEVsexpand the range of electric cars by offering an option to use the thermalengine at higher speeds. Use of the thermal engine facilitates charging of thebatteries. The initial development project phase will take approximately 12-18 months andinvolves the design and supply of the motor and motor drive system to beincorporated into two prototype vehicles. This agreement underlines the progress of the TGC high-speed electrical machinesand drives business, and strengthens our position in this exciting area oftechnology. -ENDS- For further information, please contact: Gavin Anderson & Company (PR) Tel: +44 (0)20 7554 1400Ken Cronin Turbo Genset Inc Tel: +44 (0)20 8564 4460 Michael Hunt, Chief Executive Officer Turbo Genset Inc CanadaRichard Kapuscinski, Business Development Tel: +1 (905) 690 1722 Website: www.turbogenset.com NOTES TO EDITORSAbout Turbo GensetTurbo Genset develops innovative products for power generation and powerconditioning. The Group was established in 1993 as a spin-off from ImperialCollege, London and was floated on the London stock exchange in July 2000 andsoon after obtained a secondary listing in Toronto.In July 2001, the Group acquired Intelligent Power Systems Limited (I-Power)specialising in power electronics. Forward Looking statementsThis news release contains forward-looking statements. Forward-lookingstatements include statements concerning plans, objectives, goals, strategies,future events, or performance, and underlying assumptions and other statementsthat are other than statement of historical fact. These statements are subjectto uncertainties and risks including, but not limited to, the ability to meetongoing capital needs, product and service demand and acceptance, changes intechnology, economic conditions, the impact of competition, the need to protectproprietary rights to technology, government regulation, and other risks definedin this document and in statements filed from time to time with the applicablesecurities regulatory authorities. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TPS.L