Enova Systems Announces the Commencement of Its Listing on the American Stock Exchange (AMEX) Under the Symbol: ENA
TORRANCE, Calif.--Aug. 29, 2006--Enova Systems (AMEX: ENA) (AIM: ENV) (AIM: ENVS), an early stage production company in an emerging industry and a leading developer of electric, hybrid and fuel cell digital power management systems, is pleased to announce that its common stock has been approved to be listed and will be available for trading on the American Stock Exchange (AMEX) today, August 29, 2006.Edwin O. Riddell, President and CEO of Enova Systems, said: "Enova Systems' common stock will begin trading today on the AMEX under the ticker symbol ENA." The Company has selected HBH Specialists LLC as its specialist for American Stock Exchange trading and price quotation.
Anthony Rawlinson, Chairman of Enova Systems, said: "We are extremely pleased to be listed on the American Stock Exchange. We see our listing on the AMEX as another milestone to Enova Systems. The AMEX listing will increase the liquidity for our shareholders and expand opportunities for existing and potential investors. This is an exciting step forward for the Company and our shareholders as we solidify our position as a leading production supplier in the Hybrid Market."
Enova Systems (http://www.enovasystems.com) is a leading supplier of efficient, environmentally friendly digital power components and systems products. The Company's core competencies are focused on the development and commercialization of power management and conversion systems for mobile applications. Enova applies unique "enabling technologies" in the areas of alternative energy propulsion systems for light and heavy-duty vehicles as well as power conditioning and management systems for distributed generation systems. The Company develops, designs and produces non-invasive drive systems and related components for electric, hybrid-electric, and fuel cell powered vehicles in both the "new" and "retrofit" vehicle sales market. For further information, contact Enova Systems directly, or visit its Web site at http://www.enovasystems.com.
Enova Systems, Inc. 19850 South Magellan Drive Torrance, CA 90502 310-527-2800 Contact: Mike Staran, VP of Marketing/Investor Relations
Additional Information:
This news release contains forward-looking statements relating to Enova Systems and its products that are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "could," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology and statements about industry trends and Enova's future performance, operations and 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, 2005. This forward-looking information should be considered only in connection with the aforementioned risk factors. Enova assumes no obligation to update such forward-looking statements. The approval for trading by the American Stock Exchange is contingent upon the Company maintaining compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company fails to maintain compliance with such standards.