- Canada Post has ordered five Azure Balance(TM) Hybrid Electric
vehicles as part of its stated goal to replace aged vehicles over the
next five years with more efficient vehicles.
- The five Azure vehicles will be placed into service at Canada Post
facilities in Vancouver, Winnipeg, Toronto, Ottawa and Montreal.
- The Azure vehicles in the Canada Post fleet offer up to 40% fuel
economy improvement, up to 30% lower maintenance costs and a
reduction in greenhouse gas emissions of up to 30%.
OAK PARK, MI, Feb. 22 /CNW/ - Azure Dynamics Corporation (TSX: AZD), developers of the Balance(TM) Hybrid Electric, the Transit Connect Electric, Force Drive(TM) Components and LEEP(TM) Freeze Mild Hybrid Systems announced today that it has received an order for five Balance(TM) Hybrid Electric delivery trucks from Canada Post. The five vehicles will serve at Canada Post facilities across Canada and are part of Canada Post's stated effort to replace 3,000 aged vehicles over the next five years. The vehicles will be delivered in the first quarter of 2010.
Canada Post uses more than 7,000 vehicles in its fleet to reach every Canadian home and business and believes that its long term economic health is directly linked to the health of employees, communities and the environment. The addition of these Azure Balance(TM) Hybrid Electric delivery vehicles is an important milestone in Canada Post's drive to advance and adopt "new" technology that allows Canada Post to achieve its aggressive GHG reduction target and fuel economy improvement plans.
"Canada Post believes it is important to continue to explore greener avenues by investing in technology that reduces carbon emissions and lowers our overall environmental footprint," said Steve Clark, the corporation's National Director of Fleet Management. "The addition to our fleet is a testament to Canada Post's commitment to environmental sustainability."
"With electric-launch assist, engine-off at idle and regenerative braking, Azure vehicles are well suited to help Canada Post in its monumental task of efficiently delivering more than 11.8 billion letters and packages to 31 million Canadians and over one million businesses and institutions," said Jay Sandler, Azure Vice President of Sales. "Azure looks forward to adding our Balance(TM) Hybrid Electric vehicles to contribute to that effort."
"Canada Post is one of the nation's largest companies in terms of both revenue and employees and boasts that it meets or exceeds its delivery standards 96% of the time," said Mike Elwood, Azure Vice President of Marketing. "Now Azure gets to ride along as the organization goes through its 'postal transformation' aimed in part at modernizing its fleet equipment. Our vehicles will once again become part of the solution."
Jim Keay Ford Lincoln Sales in Orleans, ON managed the transaction. The vehicles are the first Azure units sold by Jim Keay Ford Lincoln representing another achievement for Azure's channel distribution strategy of partnering with select Ford commercial truck dealers and premier body vendors to help represent Azure products in the marketplace.
For more information about Azure Dynamics and its products, please visit www.azuredynamics.com.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) 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 various 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.
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements. More particularly, this press release contains statements concerning Azure's business development strategy, projected commercial revenues and product deliveries.
The forward-looking statements are based on certain key expectations and assumptions made by Azure, including expectations and assumptions concerning achievement of current timetables for development programs, target market acceptance of Azure's products, current and new product performance, availability and cost of labor and expertise, and evolving markets for power for transportation vehicles. Although Azure believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with Azure's early stage of development, lack of product revenues and history of losses, requirements for additional financing, uncertainty as to commercial viability, uncertainty as to product development and commercialization milestones being met, uncertainty as to the market for Azure's products and unproven acceptance of Azure's technology, competition for capital, product market and personnel, uncertainty as to target markets, dependence upon third parties, changes in environmental laws or policies, uncertainty as to patent and proprietary rights, availability of management and key personnel, and acquisition integration risk. These risks are set out in more detail in Azure's annual information form which can be accessed at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date hereof and Azure undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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