Airtrax Signs Agreement with Israeli Air Force to Deliver MP2 Equipment Handlers with Omni-Directional Technology
BLACKWOOD, N.J., Sept. 6 , 2006 -- Airtrax, Inc. , a developer of patented Omni-Directional technology with military and commercial applications, today announced that the Company has signed an agreement with the Israeli Air Force to build and deliver specially designed Equipment Handlers based on the Airtrax commercial MP2 platform which utilizes the Company's patented Omni-Directional technology. The initial contract covers the first vehicle and an option for five additional units. Total production of this special model is expected to exceed 25 units.
Nicholas Fenelli, Airtrax's Interim Chief Executive Officer, stated, "We are very pleased to be working with the Israeli Air Force to build and deliver these MP2 Equipment Handlers. We believe that their reputation as one of the world's most elite military groups combined with our revolutionary best-of- breed technology makes this partnership mutually beneficial."
Fenelli continued, "We believe that this contract has the potential to provide Airtrax with the opportunity to diversify its product offering and simultaneously expand into the military market. The MP2, with the unique maneuverability of Airtrax's Omni-Directional technology, has the potential to save the IAF several times over in equipment investment. As we continue to bring new products to market, we remain positive and excited about our future prospects."
About Airtrax, Inc.:
A U.S.-based developer of Omni-Directional technology, Airtrax designs and manufactures Omni-Directional vehicles. The Airtrax patented wheel was designed and developed by Airtrax after receiving a technology transfer from the US Navy in the form of a Cooperative Research and Development Agreement (CRADA).
The SIDEWINDER(TM) Lift Truck and the Airtrax COBRA(TM) aerial work platforms (AWPs) are the first Omni-Directional vehicles using Omni- Directional Technology and the patented Airtrax wheel to be commercially produced. The nearly maintenance-free drive system design reduces maintenance costs, delivering cost efficiencies to companies both large and small. The Airtrax patented Omni-Directional wheel is manufactured exclusively for Airtrax vehicles.
Airtrax has developed business partnerships, received orders, and shipped SIDEWINDER trucks to California, Wisconsin, Arkansas, Ohio, New Jersey, Kentucky, Florida, and Pennsylvania in the United States, and internationally to the United Kingdom, Japan, Spain, Panama, New Zealand, Canada, and South Africa.
For more information and to view a must-see product demonstration, visit www.airtrax.com
Stephen Koenigsberg
Cell: 516-398-8995
Email: skpublicrelations@yahoo.com
