Enova Systems Inc Regulatory News (ENVS)

20 Oct 2005 07:00

Enova Systems, Inc.20 October 2005 Enova Furthers Hybrid Drive Market Capture in U.K and Asia TORRANCE, CA, October 20, 2005 - Enova Systems, (OTCBB: ENOV and AIM: ENV andENVS), a leading developer and manufacturer of electric, hybrid and fuel celldigital power management systems, announced today that it has furthered it'spenetration in the European and Asian Hybrid Drive Markets by securing newproduction orders with several of its existing customers. Furthermore, Enova ispleased to announce that several of its customers have announced thecommissioning of heavy-duty vehicles into commercial service utilizing Enova'sHybridPower drive systems. New Business China's largest vehicle manufacturer, First Auto Works (FAW) has ordered fiveadditional 90kW HybridPower Parallel Hybrid drive systems for their busesscheduled to be part of the 2008 Beijing Olympics. Previously, FAW purchasedthree drive systems as part of their evaluation phase which is now continuingwith Enova's drive system. First Auto Works has expressed interest in futureorders for these drive systems. Hyundai Motor Company (HMC) of South Korea ordered seven additional 80kW motorsand motor controllers for their fuel cell powered Tuscon automobile in thirdquarter of 2005. HMC intends to order a total of forty-two of these propulsionsystems as part of their fleet of fuel cell vehicles being produced in responseto the U.S. Department of Energy's Controlled Hydrogen Fleet and InfrastructureDemonstration and Validation Project. Updates on Ongoing Business In the United Kingdom, Enova has begun delivery of sixteen additionalHybridPower 120kW Series Hybrid drive systems to its customer, Eneco, forintegration into its buses for service throughout London and its suburbs. Thisis the fifth order of hybrid drive systems from Eneco for a total of 25 incommercial operation currently or by year-end 2005 throughout the U.K. WrightBus of the U.K. has announced that it will be introducing its Electrocitybus, its hybrid-electric bus, to London Central later this year. Wrights notesthat, "Electrocity offers the market a clean bus with ultra low emissions tohelp address the issues of global warming and air quality, while givingoperators reductions in their daily operating costs." WrightBus is integratingthe Electrocity with Enova's 120kW Series Hybrid drive systems powered byEnova's 60kW Genset. Also in Asia, Tomoe and MTrans, both customers for several years, arecommissioning vehicles which make use of Enova's leading edge drive systems.Tomoe, utilizing Enova's 100kW post-transmission motor and motor controller,commissioned its new, hybrid service train for the Seoul Metro Rapid Transit, afirst for Tomoe in this market. MTrans Holdings, the parent company of monorail operator, KL InfrastructureGroup, announced that it will roll out Malaysia's first hybrid electric bus forenvironmentally-friendly urban transport to Hong Kong's Ocean Park in late 2005.MTrans has stated that the same technology will also be incorporated intoMTrans' new hybrid electric monorail trains now under development. "Our continuing relationships with each of these hybrid vehicle manufacturersthroughout the world enhances Enova's ability to grow in these rapidly movingalternative vehicle markets" noted Enova's CEO Ed Riddell. "We believe these neworders and moves to commercial service underscore the versatility of our drivesystems and our customer's confidence in our products to meet their customer'sneeds." About Enova Systems, Inc. Enova Systems is a leading global supplier of efficient,environmentally-friendly hybrid and fuel cell drive systems, digital powercomponents. The Company's core competencies are focused on the development andcommercialization of power management and conversion systems for mobile andstationary applications. Enova applies unique 'enabling technologies' in theareas of alternative energy propulsion systems for light and heavy-dutyvehicles. For further information, contact Enova Systems directly, or visit itsWeb 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 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,'' "expressed," or "anticipate'' or thenegative thereof or comparable terminology and statements about industry trendsand Enova's future performance, operations and products.. These forward lookingstatements are subject to and qualified by certain risks and uncertainties.These and other risks and uncertainties are detailed from time to time in EnovaSystems' periodic filings with the Securities and Exchange Commission, includingbut not limited to Enova's annual report on Form 10-K for the year endedDecember 31, 2004. This forward-looking information should be considered only inconnection with the aforementioned risk factors. Enova assumes no obligation toupdate such forward-looking statements. ENOVA SYSTEMS, Inc.19850 South Magellan DriveTorrance, CA 90502310-527-2800 ext. 103Contact: Larry Lombard, CFO / Investor relations This information is provided by RNS The company news service from the London Stock Exchange