- The 100 Cintas Walk in Vans will be deployed in California and will
utilize the California Hybrid Voucher Incentive Program (HVIP) with
incentives of $25,000 per unit
- Cintas benchmarked other Azure customers and field tested the product
before making its final selection
- Azure products are Part of the Solution by significantly improving
fuel economy while also reducing harmful green house gas emissions
OAK PARK, MI, May 26 /CNW/ - Azure Dynamics Corporation (TSX: AZD) (OTC: AZDDF) - ("Azure") or (the "Company"), is continuing its mission of 'Driving a World of Difference' by providing Cintas Corporation with 100 Balance(TM) Hybrid Electric Walk in Vans. Cintas, headquartered in Ohio, will begin deploying the vans at its California facilities and therefore qualify for the state's Hybrid Voucher Incentive Program funding with incentives of $25,000 per unit. Kings Ford, Inc in Cincinnati managed the transaction with expected shipments occurring in the fourth quarter, 2010.
Dan Braun, Senior Vice President - Value Improvement Initiatives at Cintas, said, "We're excited to be implementing this environmentally friendly solution for Cintas, and this order of 100 Azure Dynamics Balance(TM) Hybrid Electric vehicles is a significant first step in establishing our commitment to a greener fleet, and being socially responsible. In completing our due diligence, we selected Azure Dynamics hybrid electric system which combines with the Ford gasoline engine that is part of the current Cintas fleet. The engine-off-at-idle is also important feature of the hybrid electric to ensure reduction of vehicle emissions during the daily operation of our vehicles."
The 100 units will be deployed in Sacramento, San Leandro, and Ontario, California, and will be the first large scale deployment of green technology in the Cintas fleet. Cintas will continue to evaluate further deployment of green fleet technology to additional Cintas locations in the United States and Canada. Cintas currently manages more than 10,000 vehicles in its North American fleet and maintains an approximate 15 year lifecycle expectation for its vehicles.
"We also benchmarked other fleets that have incorporated Azure Dynamics technology; most notably Purolator Courier. Purolator has a fleet that operates in similar conditions to ours, and has operated the hybrid electric vans for several years. This gave us confidence in the Azure Dynamics van's ability to meet our durability and performance requirements," said Kenneth Hoglund, Director - Fleet Management at Cintas.
"We're extremely gratified that Cintas selected our product as it begins to update its fleet with efficient, green technology," said Jay Sandler, Azure Dynamics Vice President of Sales. "We are eager for Cintas to take delivery of the vehicles and experience our proven performance attributes first-hand."
Azure's Balance(TM) Hybrid Electric drive system manages the conventional 5.4 litre Triton gasoline engine and the 5-speed automatic TorqShift transmission on the Ford E450 chassis to produce a cleaner, more fuel efficient vehicle at an affordable cost. The Cintas vans utilize a delivery body from Utilimaster in Wakarusa, Indiana.
For more information on how Azure Dynamics products are Driving a World of Difference, please visit www.azuredynamics.com.
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 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.
About Cintas Corporation
Headquartered in Cincinnati, Ohio, Cintas Corporation provides highly specialized services to businesses of all types throughout North America. Cintas designs, manufactures and implements corporate identity uniform programs, and provides entrance mats, restroom supplies, promotional products, first aid and safety products, fire protection services and document management services to approximately 800,000 businesses. Cintas is a publicly held company traded over the Nasdaq National Market under the symbol CTAS and is a Nasdaq-100 company and component of the Standard & Poor's 500 Index.
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 labour 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
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