Enova Systems Inc Regulatory News (ENVS)

22 Jan 2007 07:01

Enova Systems, Inc.22 January 2007 Enova to Supply Systems to The Tanfield Group Plc, for Zero Emission Vehicles inEurope and North America TORRANCE, CA, January 22, 2007 - Enova Systems, (AMEX: ENA and AIM: ENV andENVS): the leading developer of proprietary electric, hybrid and fuel celldigital power management systems and an early stage production company in anemerging industry is pleased to announce that it has entered into a significantproduction supply agreement with Smith Electric Vehicles, a division of TheTanfield Group Plc (TAN). Enova has worked in partnership over several months with Tanfield, to developtwo (2) high performance electric drive train systems for a Smith ElectricVehicles zero emissions vans and trucks respectively. Enova anticipates,executing an exclusive agreement, to supply a minimum of 200 electric drivetrains to Tanfield during 2007. Tanfield will integrate a 120kw electric drivesystem into the Smith Newton, the world's first zero emission 7.5t truck. A 90kwelectric drive system will be installed in the Smith Edison, the world's firstall-electric 3.5t van. Enova will also supply electric drive trains for a 12 tonversion of the Smith Newton, specifically designed for the North Americanmarket. Mike Staran, Enova's Executive Vice President, said: "This production agreementwith Tanfield consolidates our position as a market leader in Europe. Moreimportantly, the development of a Smith Newton for North America offers anenormous opportunity for further volume sales, through the supply of drivetrains for Smith vehicles in the USA and Canada. Tanfield is rapidlyestablishing its position as the world's leading commercial electric vehiclemanufacturer. Enova is convinced that there is significant untapped demand forbattery-powered vehicles worldwide, and that Tanfield's vehicles can exploitthis opportunity. Mr Staran added that, "The volume potential and market size, with a customersuch as Tanfield, is significant in both the short and long term. We aredelighted that Tanfield has selected us as their partner and we look forward tofurther optimizing our relationship with them." Darren Kell, Chief Executive of The Tanfield Group Plc, said: "The Enova systemoffers us a best-of-breed solution for our class-leading electric vehicles. Wewill work closely with Enova on the development of future products in the SmithElectric Vehicles portfolio, for both Europe and North America." In December 2006, Smith Electric Vehicles unveiled Newton, the world's firsthigh performance 7.5 ton zero emission electric vehicle. The Smith Newton is thefirst ever vehicle in its class that can compete with the diesel equivalent inan urban environment - but without the polluting effects of nitrogen oxide;particulate matter and CO2 emissions. A typical Smith Electric vehicle can achieve ranges of over 100 miles betweenbattery charges at speeds of 50 mph. Because they are zero emission, SmithElectric Vehicles are exempt from urban congestion charges in European citiessuch as London; and also qualify for other UK tax breaks and costly licenseexemptions. The 3.5 and 7.5 ton vehicles are primarily designed as deliveryvehicles for urban areas. The vehicles are extremely quiet and make a provenpositive contribution to air quality in city centres. Smith has already supplied the first Newton vehicles to leadingbusiness-to-business express, operator TNT Express UK and contract logisticsoperator Ceva Logistics. TNT alone has indicated that it could require up to 200Newton vehicles for the UK over the next 2 years. About Smith Electric Vehicles Smith Electric Vehicles, based in Tyne & Wear, United Kingdom, is both theworld's most established electric vehicle manufacturer and the world's largestproducer of road-going commercial electric vehicles. Established in 1920, it has been a market leader for more than seven decades.Smith vehicles are used for a wide range of industrial and commercialapplications including urban delivery, healthcare, airport and municipalservices. It has a worldwide customer base of more than 500 clients, includingmajor supermarkets and global logistics companies. Smith is a trading division of The Tanfield Group Plc. About Enova Systems, Inc. Enova Systems is a leading supplier of efficient, environmentally friendlydigital power components and systems products. The Company's core competenciesare focused on the development and commercialization of power management andconversion systems for mobile and stationary applications. Enova applies unique'enabling technologies' in the areas of alternative energy propulsion systemsfor light and heavy-duty vehicles as well as power conditioning and managementsystems for distributed generation systems. The Company develops, designs andproduces drive systems and related components for electric, hybrid-electric, andfuel cell powered vehicles. For further information, contact Enova Systemsdirectly, or visit its Web site at http://www.enovasystems.com. This news release contains forward-looking statements relating to Enova Systemsand its products that are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of1995. Forward-looking statements are statements that are not historical facts.These statements can be identified by the use of forward-looking terminologysuch as "believe," "expect," "may," "will," "should, "could," "project,""plan,'' "seek," "intend,'' or "anticipate'' or the negative thereof orcomparable terminology and statements about industry trends and Enova's futureperformance, operations and products. These forward-looking statements aresubject 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 forward-looking information should be considered only in connectionwith the aforementioned risk factors. Enova assumes no obligation to update suchforward-looking statements. ENOVA SYSTEMS, Inc. 19850 South Magellan DriveTorrance, CA 90502310-527-2800Contact: Mike Staran, Executive Vice President/Investor Relations This information is provided by RNS The company news service from the London Stock Exchange