OAK PARK, MI, May 19 /CNW/ - Azure Dynamics Corporation (TSX: AZD) - ("Azure" or the "Company"), a leading developer of innovative hybrid green technologies that address environmental and cost issues for operators of shuttle buses and commercial vehicle fleets, announced today it has signed agreements with thirteen additional dealerships to represent Azure's innovative Balance(TM) Hybrid Electric Drive System. The new dealerships are:
- Colonial Equipment Company, Frederick, MD - Ricart Ford, Groveport, OH - Folsom Lake Ford, Folsom, CA - Northwest Ford Truck Inc., Franklin Park, IL - Freedom Ford Sales Ltd., Edmonton, Alberta - MHQ Municipal Vehicles, Walpole, MA - Burt Automotive, Centennial, CO - Olathe Ford, Olathe, KS - Schultz Ford, Nanuet, NY - Bayshore Ford Truck Sales, New Castle, DE - Kent City Ford, Inc., Kent City, MI - Bill Brown Ford, Inc., Livonia, MI - Caguas Expressway Motors, Caguas, Puerto Rico
"Expanding our representation in key regional markets is an important step in building our distribution, sales and service base," said Jay Sandler, Azure Dynamics Vice President of Sales. "Each of these dealers has been trained on the Azure brand and technology so they're able to provide whatever our shared customers need quickly, efficiently and conveniently."
The new dealership agreements bring the total number of dealerships in the Azure program to 27. These dealerships cover major markets in the U.S. and Canada to broaden Azure's distribution network for its Balance(TM) Hybrid Electric Drive System. Many dealerships will maintain inventory of ready-to-deliver Cube Vans and Walk-In Vans equipped with Azure's technology.
Azure Dynamics has previously announced dealerships in major markets like Boston, Los Angeles, Edmonton, Miami, Milwaukee, Minneapolis, San Antonio, Toronto and others.
The Balance(TM) Hybrid Electric system is integrated on Ford's E450 Cutaway and Strip Chassis drive system and utilizes a conventional 5.4 liter Triton gasoline engine and 5-speed automatic TorqShift transmission. The hybrid powertrain features electric-launch up to 20 mph, and engine-off at idle, while electronically supporting key ancillary functions like air conditioning, power steering and braking. The powertrain can improve fuel economy by up to 40%, while reducing carbon emissions up to 30% in city conditions.
For more information about Azure Dynamics and its family of hybrid electric and electric commercial vehicles, please visit www.azuredynamics.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 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.
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