Aura in Conjunction with City National Bank Offers a No Down Payment Finance Program for Its AuraGen Product

EL SEGUNDO, Calif.--Aura Systems, Inc. (AUSI) announced today that in conjunction with City National Bank the AuraGen product is now available to users under a financing program. The program provides the user a financing option with terms up to 60 months with approved credit.

Mr. Gagerman, the Company’s CEO, said, “The ability to provide users with a bank financing program is a major step in expanding our commercial business. This instrument allows the fleet owners to obtain all the benefits of our AuraGen product without an upfront cash outlay. For many potential applications, especially those that require electric power during start and stop activities such as urban food delivery, the AuraGen could potentially use significantly less fuel than other methods of available power generation such as gensets or High output Alternators. This saving in fuel coupled with a decrease in maintenance cost could result in actual monthly positive cash flow to the AuraGen user who acquired our product under this program. In the case of applications that traditionally require a genset or APU such as mid size refrigeration trucks, the use of the AuraGen not only saves fuel (money) but also provides a significant environmental value by eliminating the extra diesel engine. The truck can also now be converted to use alternative fuels in addition, allowing for a great reduction in fossil fuel use and a significant impact on fleet emissions.”