ENOV News Enova Integrates and Delivers a Hybrid Drive Truck to Major N.A. Truck Manufacturer
TORRANCE, Calif.--(BUSINESS WIRE)--Dec. 13, 2005--Enova Systems (OTCBB:ENOV)(AIM:ENV)(AIM:ENVS), a leading developer and manufacturer of electric, hybrid and fuel cell digital power management systems, announced today that it has integrated and delivered a Post Transmission 120 kW Hybrid Drive Truck to a major North American Truck manufacturer. It is believed that the performance of this vehicle has the potential to lead to future production in the second half of 2006 and beyond.
The performance, as delivered, was yielding an average "fuel consumption" savings of more than 31% and a "miles per gallon" increase in excess of 48%. "The confirmed fuel consumption and mileage improvements provide the necessary benefits to make a very good business case," commented Mike Staran, Enova's Vice President of Marketing.
Enova believes that its strengthened balance sheet -- a result of its recent US$18 million capital raising from London's AIM market -- together with its leading-edge technological position and growing global market presence creates an ideal environment to attract production-oriented, hybrid-electric drive system programs of this type.
About Enova Systems, Inc.
Enova Systems is a leading supplier of efficient, environmentally friendly digital power components and systems products. The Company's core competencies are focused on the development and commercialization of power management and conversion systems for mobile and stationary applications. Enova applies unique "enabling technologies" in the areas of alternative energy propulsion systems for light- and heavy-duty vehicles as well as power conditioning and management systems for distributed generation systems. The Company develops, designs and produces drive systems and related components for electric, hybrid-electric and fuel-cell-powered vehicles. For further information, contact Enova Systems directly, or visit its Web site at http://www.enovasystems.com.
This news release contains forward-looking statements relating to Enova Systems and its products that are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "could," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology and statements about industry trends and Enova's future performance, operations and products. These forward-looking statements are subject to and qualified by certain risks and uncertainties. These and other risks and uncertainties are detailed from time to time in Enova Systems' periodic filings with the Securities and Exchange Commission, including but not limited to Enova's annual report on Form 10-K for the year ended December 31, 2004. This forward-looking information should be considered only in connection with the aforementioned risk factors. Enova assumes no obligation to update such forward-looking statements.
