Enova Systems Announces Management Expansion
TORRANCE, Calif.--Aug. 2, 20043, 2004--Enova Systems, (OTCBB:ENVA), a developer and manufacturer of electric, hybrid and fuel cell digital power management systems, today announced an expansion of its upper management team. Anthony N. Rawlinson, Chairman of the Board, announced that Carl D. Perry, previously President and CEO, has been promoted to the newly created position of Vice-Chairman of the Board and will assume responsibility for strategic partnerships and governmental relations. At the same time, Board Member Edwin O. Riddell was appointed President and CEO.Mr. Riddell, 62, has been a member of the Board of Directors of Enova Systems since June 1995, and previously was President of CR Transportation Services, an electric vehicle industry consultancy. Mr. Riddell is also a prior Product Manager of Electric Transportation at the Electric Power Research Institute in Palo Alto, CA, and has served as Vice President, Engineering for the Transportation Group, Inc., working on electric public transportation systems. He is a former Vice President and General Manager of Lift U, Inc., leading manufacturer of wheelchair lifts for the transit industry, and has worked in automotive design and styling for Ford, Chrysler and General Motors.
Chairman Rawlinson said, "Our strategic partnerships, with such industry leaders as Mack/Volvo, Hyundai Motor Company and Hyundai Heavy Industries, our major efforts in China and Europe, and our governmental relationships, which include U.S. Air Force and U.S. Navy contracts, are critical to our growth, and the Board and myself have determined that Carl Perry is the right person to pursue opportunities in these areas for the Company. We are pleased that Carl will be spearheading these efforts."
Mr. Perry said, "These management moves represent the next phase of a plan of action that we have been pursuing for the last year, to position Enova for continued and maximum growth. I am very pleased that the management changes we announced several months ago are proving to be successful, which has enabled us to take this second step."
"At this exciting point in the corporate history of Enova Systems, it is an honor to be named the Company's President and CEO," said Mr. Riddell. "At our recent Annual Meeting of Shareholders, which featured an impressive demonstration of our new diesel hybrid electric technologies powering a big Class 8 delivery truck, there was a strong sense that the coming months will bring our company tangible returns on its years of investment in industry-leading hybrid electric solutions. We are seeing increasing interest in and adoption of hybrid electric innovations that can reduce fuel consumption, provide a compelling return on investment across the full product lifespan and, not incidentally, reduce emissions. I look forward to my new role with the Company with great anticipation and optimism."
About Enova Systems, Inc.
Enova Systems develops and produces advanced software, firmware and hardware for applications in the growing alternative power industry. The Company's focus is digital power conversion, power management, and system integration, for two broad market applications -- vehicle power generation and stationary power generation. The Company develops, designs and produces drive systems and related components for electric, hybrid-electric, and fuel cell powered vehicles. For further information, contact Enova Systems directly, or visit its Web site at http://www.enovasystems.com.
This news release contains forward-looking statements relating to Enova Systems and its products. These forward-looking statements are subject to and qualified by certain risks and uncertainties. These and other risks and uncertainties are detailed from time to time in Enova Systems' periodic filings with the Securities and Exchange Commission, including but not limited to Enova's annual report on Form 10-K for the year ended December 31, 2003. Enova assumes no obligation to update such forward-looking statements.