Enova Drive Systems Continue Move Into Mainstream Hybrid Global Markets
TORRANCE, Calif.--Sept. 17, 2002--Enova Systems, Torrance, California (OTCBB:ENVA - News), today announced additional commercial sales of its heavy-duty drive systems, the Panther(TM) 240 and Panther(TM) 120. These products -- already subject to significant orders in major markets worldwide -- are available immediately for customers -- ranging from automotive OEMs to other private sector and government entities. They are operationally flexible, usable in electric, hybrid-electric, and fuel cell configurations.
The Panther(TM) 240 is Enova's newest addition to its line of drive systems, the 30kW, 60kW, 90kW and 120kW Panther(TM) systems. It is a production alternative to traditional internal combustion engine drive systems for a range of vehicles -- including heavy-duty transit buses, freight hauler trucks, and heavy-duty military and marine applications.
The Panther(TM) 240 separates itself from the competition because it is a complete drop-in system that can be applied to new or upgraded vehicles. It includes a power generator, a state-of-the-art energy management system and highly efficient induction motor. Industry observers note the Panther(TM) 240's unique capacity to generate 3000 ft/lbs of zero-speed torque -- enabling a heavy-duty vehicle to accelerate on a steep grade from a full stop at maximum vehicle weight.
Enova is pleased to announce that it has received purchase orders from Advanced Vehicle Systems ("AVS") of Tennessee, the largest electric and hybrid-electric bus manufacturer in the United States. AVS has ordered six Panther(TM) 240 systems for use in their 38 ft. hybrid electric transit buses utilizing Capstone micro turbines. AVS is also integrating Enova's 240kW drive system into a Class 8 urban delivery vehicle.
Rick Hitchcock, President and CEO of AVS, stated, "Enova's Panther(TM) 240 drive systems have proven to be robust and reliable components for our vehicles. Enova's sales and engineering teams are knowledgeable and have been of great help assisting us in integration and tuning of these leading-edge drive systems into our vehicles. We look forward to a long, mutually beneficial relationship with Enova in the alternative heavy-duty vehicle markets."
Carl Perry, Enova's President and CEO, stated, "Our heavy-duty drive systems are cost-competitive, energy-efficient, clean-running successors to traditional gasoline or diesel drive systems. Enova is aggressively marketing these systems to our current customers, as well as seeking new customers. Sales of our newest drive systems are beating expectations for this year. We intend to build on this promising beginning, both domestically and internationally, meeting the dual challenge of high performance and environmental progress."
Sales of our Panther(TM) 120 drive system are also on the rise in 2002 and beyond. Our proprietary Panther(TM) 120 drive system has proven itself as a reliable, robust system for medium duty shuttle buses and delivery vehicles. Our market for this system has grown to include Asia, Europe and North America.
In 2002, Enova received a purchase order for Panther(TM) 120 drive systems for 27 buses for public transportation, from Eco Power Technology of Italy for delivery this year. This represents a major breakthrough into the European Union market for medium- and heavy-duty vehicles, which increasingly demands clean technologies to meet ever-stricter air emissions limits.
Wright Bus of the United Kingdom has purchased two hybrid-electric Panther(TM) 120 drive systems with Capstone micro turbines. Wrights, one of the leading low-floor bus manufacturers in the United Kingdom, completed field-testing with the Panther(TM) 120 for application in its Crusader ten-meter bus and intends to purchase additional systems in 2002 and 2003.
William Wright, Chairman of The Wrights Group, said, "For the last 18 months, Enova, Capstone and Wrights have been developing a low-emission, turbine/battery hybrid public transportation bus.... The Enova 120 Panther drive train has been a reliable, robust and powerful ingredient, having performed its tasks whenever requested to do so. We have every expectation that the new 240 Panther drive train will be as satisfactory when we develop larger hybrid models in 2003/4. Wrights intends to order a further 5 120x30kW systems during 2002."
Enova continues to also produce Panther(TM) 120 drive systems for Hyundai Motor Company of Korea, Tomoe Engineering of Japan and the U.S. Department of Transportation.
About Enova Systems
Enova Systems, with headquarters in Torrance California, and offices in Hawaii and South Korea, is a leading designer, developer, and manufacturer of power management and conversion systems for the global mobile and stationary alternative energy market. The Company's technology and products in power conversion, energy management, and system integration enable Enova Systems to integrate a wide range of power sources, including advanced batteries, fuel cells, and turbine generators, in these power applications. The Company's product lines include the Panther(TM) propulsion systems ranging from 10kW to 240kW, DC-DC supplies for low voltage accessories, and power management systems for batteries, fuel cells, turbines and other components. Enova's propulsion systems and components are used in OEM vehicles from Hyundai Motor Company and Ford Motor Company. Enova also develops and manufactures propulsion systems for transit buses and airport trams. For more product details and other news see the Enova website at www.enovasystems.com.