9th May 2007 07:01
Enova Systems, Inc.09 May 2007 Enova to Begin Shipping Power Control Units for Th!nk Electric VehiclesMilestone Towards Production for One of the Largest Fleets of Electric Vehicles TORRANCE, CA, May 9, 2007 - Enova Systems, (AMEX: ENA and AIM: ENV and ENVS), aleading producer 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, a productioncompany in an emerging industry, will supply a Power Control Unit (PCU) to theTh!nk Group for use in their production electric vehicle. Enova's unit convertsand regulates high voltage power to lower voltages and. transfers powerthroughout the drive system and the battery, and also assists in energy recoveryduring regenerative braking. Mike Staran, Enova's Executive Vice President said: "Enova is very pleased thatthe Th!nk vehicle is now entering the production phase. We anticipate that thevehicle will gain rapid worldwide acceptance." Enova has partnered with EDAG, to support the technical design, development andvalidation efforts. EDAG, the world's largest independent development partner,develops customized concepts and solutions, optimized for production, to meetthe mobility needs of the future. Besides development, design and engineering,EDAG's capabilities extend to part validation for production systems from asingle source. The Th!nk Group, who recently obtained approximately US$ 28,500,000 from theInvestment community, anticipates vehicle production to accelerate quicklythroughout the European regions. The Think Global is a world leading competencecentre for design, development, assembly and licensing of modular environmentalfriendly vehicles and technology. The second generation TH!NK City vehicle is acompletely new experience that combines award-winning design with comfort andconvenience features that make it a pleasure to drive. Th!nk City now has newbattery technology which should lead to a driving range of180km, with a topspeed of 100 - 110kph and a 0-50kph acceleration of seven (7) seconds. Th!nk expects to produce one of the largest fleets of electric vehicles in theworld. The new vehicle is expected to be launched in Norway in 2007, andselected international markets in 2008. Th!nk's mission is to create the mostenvironmentally friendly vehicles in the world in a commercially successful way.More information about Th!nk can be found on http://www.think.no/. About Enova: Enova Systems (http://www.enovasystems.com) is a leading supplier of efficient,environmentally friendly digital power components and systems products. TheCompany's core competencies are focused on the development and commercializationof power management and conversion systems for mobile applications. Enovaapplies unique 'enabling technologies' in the areas of alternative energypropulsion systems for light and heavy-duty vehicles as well as powerconditioning and management systems for distributed generation systems. TheCompany develops, designs and produces non-invasive drive systems and relatedcomponents for electric, hybrid-electric, and fuel cell powered vehicles in boththe "new" and "retrofit" vehicle sales market. For further information, contactEnova Systems directly, or visit its Web site at http://www.enovasystems.com. ENOVA SYSTEMS, Inc.19850 South Magellan DriveTorrance, CA 90502310-527-2800Contact: Mike Staran, Executive Vice President and Investor Relations Additional Information: This news release contains forward-looking statements relating to Enova Systemsand its products that are intended to be covered by the safe harbor forforward-looking statements provided by the Private Securities Litigation ReformAct of 1995. Forward-looking statements are statements that are not historicalfacts. These statements can be identified by the use of forward-lookingterminology such as "believe," "expect," "may," "will," "should,'' "could,""project," "plan,'' "seek," "intend,'' or "anticipate'' or the negative thereofor comparable terminology and statements about industry trends and Enova'sfuture performance, operations and products. These forward-looking statementsare subject to and qualified by certain risks and uncertainties. These and otherrisks and uncertainties are detailed from time to time in Enova Systems'periodic filings with the Securities and Exchange Commission, including but notlimited to Enova's annual report on Form 10-K for the year ended December 31,2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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