TORONTO, Feb. 22 /CNW/ - Project Eve, a consortium of Canadian
companies, announced today that it has signed a definitive agreement
with MDA to advance essential electric mobility technologies and solutions.
Under the terms of the agreement, Project Eve and MDA will combine their
collective capabilities to advance key enabling technologies; to
coordinate marketing and business development efforts; and to design,
deliver and enhance advanced electric mobility technologies and
"Electric mobility is an area where we believe our expertise, assets and
capabilities can add value. Our previous work with similar technologies
in extreme operating conditions can be part of the progress needed to
realize some of the potential inherent in electric mobility, said Roy Jakola, Director, Terrestrial Applications for MDA. Working with technology partners is a big part of our
culture, and Project Eve's approach to improving electric mobility
technologies and solutions appeals to us."
"We are very happy to have this opportunity to work with MDA and its
people. Their project and technology expertise adds significantly to
our collective ability to advance key technology areas such as light
weighting, alternative power technologies, electrical system
capabilities and durability, battery life cycle management,
communications, and fleet information capabilities", said Steve Dallas, co-founder of Project Eve, and the CEO of Toronto Electric.
Project Eve's formation was announced in September of last year at Electric Mobility Canada's annual conference in Vancouver B.C. Project Eve is an open
consortium of Canadian companies interested in advancing electric
mobility technologies and solutions for licensing and export.
About Project Eve
Project Eve brings together Canadian skills and products for the purpose
of producing and supporting key Canadian content in EV's. The
consortium intends to advance electric mobility technologies by working
with Fleet Managers to manufacture, test, support and improve EV's and
their components for the Canadian Fleet and export environment. Other
goals include reducing vehicle weight, improving safety, extending
battery life, advancing charging technologies, environmental programs
for EV life cycles, and designing for electric grids and data grids.
MDA provides advanced information solutions that capture and process
vast amounts of data, produce essential information, and improve the
decision making and operational performance of business and government
Focused on markets and customers with strong repeat business potential,
MDA delivers a broad spectrum of information solutions, ranging from
complex operational systems, to tailored information services, to
electronic information products.
The Company's common shares trade on the Toronto Stock Exchange under
the symbol TSX:MDA.
This press release may contain certain forward-looking statements and
information, which reflect the current view of MacDonald, Dettwiler and
Associates Ltd. ("MDA"). Forward-looking statements generally can be
identified by the use of forward-looking terminology such as "may",
"will", "expect", "intend", "anticipate", "plan", "foresee", "believe"
or "continue" or the negatives of such terms or variations of them or
similar terminology. Any such forward-looking statements are based on
MDA's current expectations, estimates, projections and assumptions made
in light of its experience and its perception of historical trends. Any
such forward-looking statements are subject to risks and uncertainties
and MDA's actual results of operations could differ materially from
historical results or current expectations. The risks that could cause
actual results to differ from current expectations include general
economic and regulatory changes; detrimental reliance on third parties;
and failure of counterparties in financing arrangements.
For additional information with respect to certain of these risks or
factors, plus additional risks or factors, you are referred to the risk
factors described in MDA's most recent annual Management's Discussion
and Analysis, Annual Information Form and other documents on file with
the Canadian securities regulatory authorities, available online at www.sedar.com or www.mdacorporation.com. The forward-looking statements and information contained in this press
release represent MDA's views only as of today's date. MDA disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, other than as required by law, rule or regulation. You
should not place undue reliance on forward-looking statements.
The Toronto Stock Exchange has neither approved nor disapproved the form
or content of this release.
SOURCE Project Eve
For further information:
John M Scott
Director, Project Eve