Azure Dynamics Announces Sale of 50 Balance(TM) Hybrid Electric Units to a Leading Logistics Company

  • Returning LEAD customer had previously ordered 30 Transit Connect Electric vans

  • New order of 50 BalanceTM Hybrid Electric units showcases the versatility of the Azure product portfolio

  • Units expected to be delivered during the second quarter in 2011 in the United States

OAK PARK, MI, Jan. 18 /CNW/ - Azure Dynamics Corporation (TSX: AZD)(OTC:AZDDF), a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles, today announced that it has received an order for 50 BalanceTM Hybrid Electric units from a world leading logistics organization.  The customer, which also previously submitted Azure's single largest Transit Connect Electric order of 30 units, cannot be named at this time.   

"We've long believed that commercial fleet organizations have room for several different alternative energy technologies," said Scott Harrison, Azure's chief executive officer.  "Our product portfolio reflects this belief by offering the market-leading BalanceTM Hybrid Electric solution and the innovative Transit Connect Electric EV van.  Azure's latest order demonstrates that the same customer is often interested in multiple technologies and vehicle platforms to best serve diverse fleet needs. We intent to meet that need with industry best solutions."

The Azure BalanceTM Hybrid Electric is the clear market leader in the medium duty hybrid commercial market.  The powertrain is integrated on a Ford E450 chassis with a Ford 5.4L gasoline engine. The hybrid electric drive train features unique attributes such as 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 50 units are scheduled for delivery to the logistics carrier during the second quarter of 2011 for facilities located in the United States.  The units described in this order will include the BalanceTM Hybrid Electric second generation architecture characterized by the Johnson Controls-Saft lithium ion battery plus many other upgrades designed to improve efficiency, reliability and durability.  As a result, the BalanceTM Hybrid Electric 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 on how Azure vehicles are Driving a World of Difference, please visit www.azuredynamics.com.

About Azure Dynamics
Azure Dynamics Corporation (TSX:AZD)(OTC:AZDDF.PK) 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.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-looking Statements
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.

SOURCE Azure Dynamics Corporation

For further information:

Mike Elwood, Vice President, Marketing (905) 607-3486 x6203
Email: melwood@azuredynamics.com
Juris Pagrabs, Vice President, Investor Relations (248) 658-7570
Email:  jpagrabs@azuredynamics.com  
Patrick Liebler, Liebler Group, (248) 229-4418           
Email: pat@lieblergroup.com

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