EVO Electric wins ACES Award

Woking--February 27, 2012

EVO Electric Wins ACES Award

EVO Electric Ltd., a leading developer of electric drive solutions for the automotive sector, today announced that it has won the prestigious Materials and Engineering Award at the fourth annual Academic Enterprise Awards (ACES) competition. The ACES competition, held on 21 February 2012 in Brussels, was established by the Science|Business Innovation Board to recognise the best academic entrepreneurs from across Europe. Finalists were selected by a committee of leading industry officials, academics and venture investors.

At this year's competition, Dr. Michael Lamperth, CTO and founder of EVO Electric, and formerly Lecturer at Imperial College London, was presented with the Materials/Engineering Award for spin-outs based on research in new materials, chemicals or engineering sectors. The award was given in recognition of EVO's tremendous success since its inception in 2007 as a spin-out of Imperial College London. In 2011 alone, EVO delivered electric drive systems based on Dr. Lamperth's patented Axial Flux technology to customers in France, Germany, India, Sweden and the UK, including four global car manufacturers, two global bus and truck manufacturers and three premium vehicle manufacturers. During the same year, EVO was selected by global automotive supplier MAHLE as a partner for the development of a range extender engine for electric vehicles, and by GKN Driveline, part of GKN plc (LSE:GKN), to form a joint venture to develop, manufacture and sell Axial Flux electric motors and drive systems for use in hybrid and electric vehicles. The JV, named GKN EVO eDrive Systems, is based in the UK.

The past year also saw a number of technical successes for EVO Electric. In May, a French-designed vehicle powered by EVO's advanced electric motor technology, the ZEEC, won the 2011 SIA Trophy. In August, an advanced electric vehicle (EV) designed by Toyota Motorsport GmbH (TMG) and powered by two EVO motors set a new lap record for an electric vehicle at the legendary 20.8km Nürburgring Nordschleife circuit in Germany.

"With an expanding customer base and proven track record in delivering state-of-the-art motor, generator and drive technology, EVO is well positioned to be a key player in the rapidly expanding hybrid and electric vehicle (EV) component sector," said David Latimer, EVO Electric CEO. "In collaboration with our industry partners, we will continue to develop a range of solutions for hybrids and EVs as well as other clean energy applications that will underpin our company's growth for years to come."

About EVO Electric: EVO Electric Limited Evo-Electric develops and manufactures advanced electric motors, generators, drive systems and other integrated products based on its patented Axial Flux technology. The Company provides a wide range of solutions for the low carbon economy, including hybrid and electric vehicle drive systems, wind power generators and mobile power systems.