OAK PARK, MI, Dec. 14 /CNW/ - Azure Dynamics Corporation (TSX: AZD) - ("Azure") or (the "Company"), a leading developer of state-of-the-art green technologies that address environmental and cost issues for the commercial transportation industry, announced today that Purolator Courier Ltd. ("Purolator") has placed an order for an additional 200 Balance(TM) Hybrid Electric delivery trucks. The 200 unit purchase is Azure's largest revenue order to date and also the highest volume Balance(TM) Hybrid Electric order since the product launched in the summer of 2008. The new trucks join approximately 205 other Azure trucks already at work in Purolator's fleet. The trucks will be delivered in 2010.
"This order represents the culmination of our Balance(TM) Hybrid Electric efforts over the past several years," said Scott Harrison, Azure Dynamics Chief Executive Officer. "More importantly, the order represents a catapult into 2010 and beyond. Our product IS delivering on its promises and becoming the preferred hybrid electric technology solution for hard working, urban delivery truck and shuttle bus applications. As a result, our volume is up, costs are down and we're engaging new and repeat customers who increasingly understand our value proposition."
"Purolator is a responsible corporation that protects and preserves the environment by reducing the impact of its operations and services," said Serge Viola, Director, National Fleet and Ground Line Haul for Purolator. "Our new order of Azure's hybrid electric trucks reflects our continued confidence in the performance of their vehicles. Meanwhile, the technology helps us by substantially reducing tailpipe emissions, reducing operating costs and improving fuel economy and up time."
Azure Dynamics continues an active fourth quarter that has seen significant developments in each of its primary product lines. The Azure Balance(TM) Hybrid Electric vehicles ordered by Purolator are integrated on a Ford E450 chassis. The hybrid electric drive train, with unique attributes like engine-off at idle and below 20 miles per hour, while electronically supporting key ancillary functions like power steering and braking, is ideally suited for commercial activity in urban environments. The drive train, with a Ford 5.4L gasoline engine, can improve fuel economy by up to 40%, while reducing carbon emissions by up to 30% in city conditions. The drive train also offers a significant reduction in maintenance costs versus conventionally equipped competitors.
For more information about Azure Dynamics and its products, please visit www.azuredynamics.com.
Purolator Courier Ltd. of Mississauga, Ontario is proud of its Canadian heritage. As Canada's largest courier company and one of Canada's 10 Most Admired Corporate Cultures(TM) (2009), Purolator is committed to its customers and over 12,500 employees, including more than 3,500 couriers. From automated solutions to 24 hour pick up and delivery, Purolator provides customers with the services and customized solutions required to get their shipments across town or around the world. Purolator operates Canada's largest dedicated air express fleet and has an extensive service network, with over 140 operations locations, over 140 Shipping Centres, over 550 Authorized Shipping Agents and more than 350 drop boxes.
Purolator has also implemented a company-wide Quality Leadership Process that provides the necessary framework for continuous improvement and operational excellence. As part of its commitment to helping alleviate hunger, Purolator also works closely with Food Banks Canada. Since 2003, Purolator has helped collect more than three million pounds of food for local food banks across Canada. For more company information please visit www.purolator.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.
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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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