Northern Lights Energy and REVA Agree to Develop Iceland's EV Market

LONDON - November 16, 2009: Northern Lights Energy (NLE), initiator of Iceland's Project 2012 and provider of infrastructure and services for electric vehicles (EVs) has signed an agreement with Reva Electric Car Company (REVA) to develop the electric vehicle market in Iceland. NLE has exclusive distribution rights for REVA's electric cars including the new NXR that premiered at the recent Frankfurt Motor Show and 2011's model, the NXG sports coupe. Marketing of the NXR starts in the second half of 2010, with deliveries at the end of the year.

The REVA NXR is a four-seat, three-door hatchback family car with a top speed of 104 kph and a range of 160 kms per charge. Using the 90 minute fast charge (normal charging is eight hours), the NXR's effective range is 320km a day. A fast charge for 15 minutes provides a 40 km range.

Iceland is also one of several countries being considered by REVA as a possible site for a European assembly plant. REVA has more than 3,000 vehicles on the road in 24 countries and recently announced a joint venture with General Motors India to provide the electric powertrain and energy management systems for the new Chevrolet Spark.

NLE is developing a (re)charging infrastructure system and vehicle exchange service to support the adoption of electric vehicles in Iceland. "Iceland is an island with an advanced electric grid technology, using 100% renewable energy, so it is a perfect location for zero emission electric vehicles," says Gisli Gislason, chairman of NLE.

NLE is also working on developing systems to convert internal combustion engine car fleets into electric cars. "We are working with a number of parties in Denmark and Finland towards the swift development of Iceland's EV market with the aim of reducing the 680.000 tons of CO2 emitted annually. This is what the Project 2012 is all about," says Sighvatur Larusson, COO of NLE.

"The 2012 project is one of the most ambitious, yet achievable, personal transport electrification projects in the world today and we are pleased to be able to contribute our products and experience" says Keith Johnston, president, European operations at REVA.