Enova Systems Inc Regulatory News (ENVS)

5 Feb 2007 07:01

Enova Systems, Inc.05 February 2007 Enova Announces Senior Management Changes in Finance and Operations Departmentsand Change of Auditor TORRANCE, CA, February 5, 2007 - Enova Systems, (AMEX: ENA and AIM: ENV andENVS), an early stage production company in an emerging industry and a leadingdeveloper of proprietary electric, hybrid and fuel cell digital power managementsystems, announced today that Mr. Jarett Fenton has been appointed to theposition of Chief Financial Officer. Mr. Fenton joins Enova from The ClarityGroup, a professional corporation providing financial reporting and complianceconsulting for SEC registrants. Mr. Fenton brings 10 years of experience infinance and accounting. His prior affiliations and work history includePricewaterhouseCoopers, Mazda North American Operations, Edison Mission Energy,Countrywide Financial Corporation and PC Mall Inc. Mr. Fenton has been workingas an outside consultant for Enova for the past year and has a strong knowledgeof Enova's business. Mr. Fenton has a Bachelor of Arts in Business Economicswith an emphasis in Accounting from the University of California at SantaBarbara, and is a Certified Public Accountant. Enova President and CEO, Edwin Riddell said, "Jarett will be responsible for thefurther refinement of Enova's finance function. His addition will beinstrumental in enhancing our growth and exposure within the investmentcommunity." Mr Fenton replaces Ms. Corinne Bertrand, who has resigned from her position asCFO. Enova President and CEO, Edwin Riddell said, "We thank Mrs. Bertrand forher faithful commitment to Enova." Additionally the company is pleased to announce that Mr. Jon Hembree has joinedthe senior management team. As part of Enova's bid to strengthen theirorganization, Mr. Jon Hembree has been appointed Director of the OperationalActivities for Enova Systems. Mr Hembree joins Enova from International Truckand Engine, where he spent 14 years, most recently as Program Manager of HybridVehicle Research and Development where he conceptualized, managed and executedInternational Truck and Engine's hybrid R&D vehicle deployments. Mr Hembreereplaces Mr. John Dexter, who has retired from the company. "We are pleased that Jon has joined our team. His experience in the OEM arenawill help us in entering the Production Hybrid Market segment. Additionally,Jon's vast knowledge of hybrid systems is significant to our growth as a premierhybrid supplier" stated Mike Staran, Enova's new Executive Vice President. Mr. Hembree brings over 20 years of experience in product design, testing anddevelopment. He also has significant knowledge in product processconceptualization, process quality planning, validation, start-up and ongoingoperations management, as well as supply chain development and maturation. Hisprior affiliations and work history range from organizations such as the USDepartment of Energy, the US EPA, Ford Motor Company, ITT Aerospace, and FordAerospace to suppliers such as Eaton, Parker, TRW, Southwest Research, NationalRenewable Energy Lab and the National Energy Technology Lab. Mr. Hembree holds aBachelor of Science degree in Automated Manufacturing Engineering and anAssociate of Science in Tool and Die Design Engineering. In another move to strengthen Enova Systems position in the marketplace andenhance communications on financial matters, we have engaged, as of January 31,2007, PMB + Helin Donovan consultants and certified public accountants toreplace Windes & McClaughry Accountancy Corporation as the Company's auditorfirm. Enova President and CEO, Edwin Riddell said, "2007 is shaping up to be a pivotalyear for Enova. We look towards the future with anticipation and excitement." About Enova: Enova Systems (http://www.enovasystems.com) is a leading supplier of efficient,environmentally friendly digital power components and systems products. TheCompany's core competencies are focused on the development and commercializationof power management and conversion systems for mobile applications. Enovaapplies unique 'enabling technologies' in the areas of alternative energypropulsion systems for light and heavy-duty vehicles as well as powerconditioning and management systems for distributed generation systems. TheCompany develops, designs and produces non-invasive drive systems and relatedcomponents for electric, hybrid-electric, and fuel cell powered vehicles in boththe "new" and "retrofit" vehicle sales market. For further information, contactEnova Systems directly, or visit its Web site at http://www.enovasystems.com. ENOVA SYSTEMS, Inc.19850 South Magellan DriveTorrance, CA 90502310-527-2800Contact: Mike Staran, Executive Vice President/Investor Relations Additional Information: This news release contains forward-looking statements relating to Enova Systemsand its products that are intended to be covered by the safe harbor forforward-looking statements provided by the Private Securities Litigation ReformAct of 1995. Forward-looking statements are statements that are not historicalfacts. These statements can be identified by the use of forward-lookingterminology such as "believe," "expect," "may," "will," "should,'' "could,""project," "plan,'' "seek," "intend,'' or "anticipate'' or the negative thereofor comparable terminology and statements about industry trends and Enova'sfuture performance, operations and products. These forward-looking statementsare subject to and qualified by certain risks and uncertainties. These and otherrisks and uncertainties are detailed from time to time in Enova Systems'periodic filings with the Securities and Exchange Commission, including but notlimited to Enova's annual report on Form 10-K for the year ended December 31,2005. This information is provided by RNS The company news service from the London Stock Exchange