Azure Dynamics to deliver parallel hybrid for demonstration with major fleet

    TORONTO, Aug. 28 /CNW/ - Azure Dynamics Corporation (TSX: AZD & LSE: ADC)
("Azure" or the "Company") a leading developer of hybrid electric and electric
powertrains for commercial vehicles is pleased to announce that it has signed
a commercial development and cooperation agreement with a North American
company. Azure will deliver a gasoline parallel hybrid electric Ford E-450
based vehicle for industry viability validation, testing and demonstration
within the company's North American fleet.
    The parallel hybrid electric demonstration vehicle will be used to verify
the fuel economy improvements, emissions reductions and maintenance cost
savings that can be achieved using Azure's patented technology. Successful
completion of the program will result in the company becoming a lead customer
for Azure's hybrid technology on the Ford E-450 chassis with a minimum
commitment of 10 percent of their fleet replacement purchases per annum.
    Scott Harrison, Azure's Chief Executive Officer said, "This program
represents another step in our path to commercialising hybrid drive technology
into major truck fleets in North America. Our customer is interested in
testing and verifying the economic and environmental benefits of hybrid drive
technology. We are confident we can deliver a product which will be both
economic and environmentally sound and that more business will follow."

    About Azure Dynamics

    Azure Dynamics Corporation (TSX: AZD) (LSE: ADC) 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

    The TSX and LSE Exchanges do 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
    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
    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.

For further information:

For further information: Mark Federle, Senior Vice President, Sales,
(781) 932-9009, Email:; Steven Glaser, Vice
President, Corporate Affairs, (416) 367-0220 x105, Email:

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