Electrosource, Lockheed Martin Deliver Hybrid Electric Drive Systems
8 October 1997
Electrosource, Lockheed Martin Deliver Hybrid Electric Drive Systems
SAN MARCOS, Texas, Oct. 8 -- Electrosource, Inc.
announced today that the company is delivering HORIZON(R) C2M
(co-extruded composite matrix) batteries to aerospace technology firm Lockheed
Martin Control Systems, a unit of the Lockheed Martin Corporation .
The batteries will be delivered for use in several Navistar International
Transportation Corp. hybrid-electric concept trucks to be tested
this fall.
These alternative-powered vehicles will use HORIZON C2M batteries as the
power source for the Lockheed Martin HybriDrive(TM) hybrid-electric drive
system and will be road-tested by Navistar customers in real-world
applications. Development of several additional concept trucks is planned.
Electrosource Chairman, President and CEO, Michael G. Semmens, said,
"Electrosource is delighted that Lockheed Martin has added Navistar to its
list of customers using the HybriDrive(TM) optimized electronic drive system
that incorporates powerful HORIZON(R) C2M batteries. As a supplier to
Lockheed Martin, Electrosource is demonstrating its ability to provide high-
power production batteries for use in demanding applications."
Navistar International Corp. is a leading manufacturer of medium and heavy
trucks and school buses in North America and selected export markets, under
the INTERNATIONAL(R) brand. The Navistar hybrid-electric concept trucks are
powered by a diesel engine, which turns a generator to provide energy for the
drive motor. A unique regenerative braking process uses the motor as a brake
that generates electricity and charges the Electrosource batteries, which are
used to boost the electric motor during peak power needs. Extensive engine
and control electronics by Navistar/Lockheed Martin provide precise control
over the truck's performance.
In May 1997, Electrosource announced receipt of Purchase Orders for up to
$3.7 million and Letter of Intent for follow-on battery orders for up to
$2.7 million from Lockheed Martin Control Systems.
Another Lockheed Martin customer, Orion Bus Industries, Ltd., has
announced receipt of orders from New Jersey Transit and the New York
Metropolitan Transportation Authority for its hybrid-electric heavy-duty
transit buses, using the HybriDrive(TM) system and Navistar-manufactured
engines.
"These hybrid-electric clean-air trucks and buses offer environmental,
performance and maintenance benefits, which should boost market acceptance,"
said Semmens. Emissions are greatly reduced while fuel economy is increased.
Operating costs are decreased since the regenerative braking system reduces
brake wear significantly and traditional transmission and drivetrain
maintenance is eliminated.
Electrosource is developing electric and hybrid-electric vehicle batteries
under cooperative development contracts with Fiat Auto of Italy, SMH
Automobile of Switzerland, and the Defense Advanced Research Projects Agency
(DARPA).
Navistar International Corp., with headquarters in Chicago, is the leading
North American producer of medium and heavy trucks and school buses. The
company is also a worldwide leader in the manufacture of mid-range diesel
engines which are produced in a range of 160 to 300 horsepower.
Lockheed Martin Control Systems, with facilities in Johnson City, New
York, and Fort Wayne, Indiana, is an operating unit of the Lockheed Martin
Electronics Sector, a leader in design, development and production of
electronics systems for the global aerospace and defense industries. LMCS
produces electronic flight controls and engine controls for both commercial
and military aircraft. The company also produces electronic controls and
other electronic systems for the ground transportation industry.
Electrosource, headquartered in San Marcos, Texas, designs, manufactures
and markets proprietary advanced energy storage technologies and systems.
Additional information about the company is located on the internet at
http://www.electrosource.com .
This release contains forward-looking statements regarding future product
development and sales growth that involve risks and uncertainties. Actual
results could differ materially from those discussed in this release. Risks,
including manufacturing risks, risks of product development and uncertainty of
market acceptance, as well as others, are detailed from time to time in the
Company's Securities and Exchange Commission filings.
SOURCE Electrosource, Inc.