Azure Dynamics Wins at the 24th Annual Canadian Advanced Technology Alliance Awards
OAK PARK, MI, May 28, 2009 -- Azure Dynamics Corporation (TSX: AZD) - ("Azure") or (the "Company"), a leading developer of innovative hybrid green technologies that address environmental and cost issues for operators of commercial vehicle fleets, was recently chosen as a winner at the 24th Annual Canadian Advanced Technology Alliance (CATA) Innovation and Leadership Awards. Azure was recognized with an 'Outstanding Product Achievement' award in the Clean Technology category.
"It is an honor to be recognized by the Canadian Advance Technology Alliance for our development of clean, efficient hybrid electric technology for the commercial transportation sector," said Mike Elwood, Azure Dynamics Vice President of Marketing and Chair, Electric Mobility Canada. "Canada has a very deep rooted position in the development and commercialization of advanced transportation technologies. 'Driving a world of difference' has been the mantra at AZD, this award is appreciated and very meaningful to everyone connected to the company and our mission."
The Clean Tech Award, sponsored by Gowlings, was presented to Azure for an outstanding product achievement that has resulted in the production of a world-class Clean Tech product or family of products. To be selected as a winner, the product must have proven itself in operation, design and market success and have enhanced Canada's international reputation for innovation and excellence.
Azure Dynamics develops hybrid electric and electric drive trains that are primarily used for commercial delivery and shuttle bus applications. The Azure drive train can improve fuel economy by up to 40%, while reducing carbon emissions up to 30% in city conditions. Although commercial vehicles only account for 12% of total miles driven in Canada, they produce roughly 25% of all emissions. Therefore, increased usage of the Azure drive train can significantly reduce harmful emissions across Canada.
One of Azure's key product lines and most environmentally efficient systems, which helped highlight the Company's recognition in the Product Achievement category, is its Balance(TM) Hybrid Electric system. The system utilizes a conventional 5.4 liter Triton gasoline engine and 5-speed automatic TorqShift transmission. The hybrid drive train features electric-launch up to 20 mph, and engine-off at idle, while electronically supporting key ancillary functions like air conditioning, power steering and braking. Recently, the Balance(TM) Hybrid Electric was purchased by prestigious Canada entities including the City of Toronto, Purolator Courier and the University of Alberta.
The CATA Awards are the most prestigious annual awards conferred on individuals and corporations by Canada's advanced technology community. They are presented in recognition of exceptional contributions made to the creation of science and technology-based industrial strength in Canada.
The CATA Award marks the second recognition for Azure Dynamics in less than a month. Previously, Scott Harrison, Azure Dynamics CEO, was recognized and awarded The Grant Thornton Leader & Innovator of the Year by the Lawrence Technological University. Harrison was chosen from among 46 nominees for his efforts in advancing the Azure Dynamics product line.