Azure Dynamics Opens European Headquarters in North London Ahead of its June Transit Connect Electric Production Launch
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OAK PARK, Michigan, March 15, 2011 -- Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) ("Azure" or the "Company"), a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles, announced today that it has opened its new European headquarters office in North London to support its sales and marketing efforts for the new all-electric Ford Transit Connect, which is scheduled for European production in June, 2011.
"Since its introduction in 2002, the Ford Transit Connect has had phenomenal sales success in cities across Europe and we're eager to launch its all-electric counterpart, Transit Connect Electric," said Scott Harrison, CEO of Azure Dynamics. "Since receiving the first 14 Transit Connect Electric vehicles in Europe this past December, we are very encouraged by the initial reaction and interest from both European public and private commercial fleet operators. Many of our potential customers have experience with the conventional gas vehicle and are now eager to enjoy the operational and environmental benefits of our pure-electric ForceDrive(TM) powertrain."
Transit Connect Electric offers a unique combination of driving dynamics, cargo capacity, accessibility and low costs of operation. It can achieve a range of 80 - 130 kilometers (50 - 80 miles) depending on auxiliary power usage and drive cycle, and has a top speed of 125 kph (75 mph). The lithium ion battery is rechargeable in approximately six hours using a 230-volt outlet.
Azure's new European facility will be responsible for all European operations including engineering and program coordination, manufacturing activities, sales and marketing and service support. The North London facility, located in Arlington Business Park in Stevenage, has a 4,800 square foot office space, and a workshop area that can accommodate Azure vehicles along with key diagnostic equipment for vehicles and electric powertrain components. The East of England Development Agency (EEDA) helped Azure Dynamics Ltd locate the facility.
Azure has selected a European-based manufacturer to upfit the Transit Connect Electric and expects to announce the partnership upon the completion of the terms. Azure has been developing electric powertrains for more than 20 years. Its innovative ForceDrive(TM) technology has over 40 different vehicle integrations to its credit and more than 35 million miles of real-world experience.
In addition to the acclaimed Transit Connect Electric, Azure also manufactures the Balance(TM) Hybrid Electric delivery truck and shuttle bus.
The Balance(TM) Hybrid Electric offers up to 40% fuel economy improvement while reducing emissions by up to 30%.
For more information on how Azure Dynamics' products are Driving a World of Difference, please visit www.azuredynamics.com. The European office is located at:
Azure Dynamics Ltd.
Unit 10 The IO Centre
Arlington Business Park
Gunnels Wood Road
Stevenage
Herts, SG1 2BD
England
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with a variety of partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally-friendly energy management solutions. For more information please visit www.azuredynamics.com.
Source: Azure Dynamics Corporation
For further information: Gary Whittam, Sales & Marketing Director - Europe, Azure Dynamics Ltd., +44-(0)1277-725-652 Email: gwhittam@azuredynamics.com. Mike Elwood, Marketing VP, Azure Dynamics, Mississauga, Ontario, Canada, +1-905-607-3486 ext 6203 Email: melwood@azuredynamics.com. Juris Pagrabs, Vice President, Investor Relations, +1-(248)-298-2403 ext 7570 Email: jpagrabs@azuredynamics.com. Patrick Liebler, Liebler Group, +1-248-229-4418, Email: pat@lieblergroup.com
