Enova Systems Inc Regulatory News (ENVS)

12 Mar 2007 07:03

Enova Systems, Inc.12 March 2007 Enova's Unique Proprietary Post Transmission Hybrid Drive System Installed InFirst Production Hybrid School Buses The First School Buses Can Attain Up To 70-100 Percent Increase in FuelEfficiency, 90 Percent Reduction in Emissions TORRANCE, CA, March 12, 2007 - Enova Systems, (AMEX: ENA and AIM: ENV and ENVS),an early stage production company in an emerging industry and a leadingdeveloper of proprietary electric, hybrid and fuel cell digital power managementsystems, is pleased to announce that its unique proprietary Post Transmissionhybrid systems are being used to help power the nation's first production HybridSchool Buses via IC Corp. Florida's Manatee School district, is the first in thenation to receive the production Hybrid School Buses. The buses were officiallydelivered on Friday, March 9th, 2007. Other school districts around the country will soon be receiving the remainingseventeen (17) IC Corporation hybrid school buses awarded by Advanced Energy.Manatee School District's two (2) hybrid school buses are part of the nineteen(19) hybrid buses awarded nationwide by Advanced Energy, a non-profitcorporation that initiated a buyer's consortium of school districts, stateenergy agencies and student transportation providers. Mike Staran, Enova's Executive Vice President said: "Enova Systems' unique PostTransmission System continues to offer a non-invasive solution to enter thehybrid vehicle market in either the retrofit or new vehicle segment. We areprivileged to be partnered with IC Corp, the nation's largest School Bus, inthis groundbreaking effort." Enova's Post Transmission System has proven, in other applications, to be anon-invasive system that has required little to no modification to chassis,body, instrument panel, etc. In addition, the system does not intrude on, norrequire any alteration to the Engine Control/Communication system, thus avoidingany emissions certification issues. The system monitors, but does not impactanything that within the existing engine and does not effect the existing enginecalibration. The hybrid system can be designed as either a Charge Sustaining orCharge Depleting ("Plug In") system. The Charge Sustaining System utilizesrelatively small batteries which are maintained within specified range of Stateof Charge (SOC) over the entire drive cycle. Battery charge is maintained by theon-board equipment and is not normally recharged from the grid except as neededfor cell balancing. The Charge Depleting System utilizes a larger battery basedon advanced battery chemistry that provides stored energy intended to be drawndown over the driving cycle, thus optimizing fuel economy, subsequent to anovernight charge. Depending on the route, fuel economy miles per gallon (mpg) improvement is from30% to 55% or better for a Post Transmission Charge Sustaining System, and70-100% or better for Post transmission Charge Depleting Systems. Emissionimprovements vary with the pollutant being measured and has shown up to a 90%improvement at times on Particulate Matter based on load and operating conditiondependent. Enova has also partnered with IC Corporation to provide hybrid systems for theirnew line of hybrid commercial buses. The bus market in which IC Corporationplans to compete is approximately 18,000 units annually. The market can bebroken into 2 primary segments - public and private. It is now estimated that30% of the buses purchased for public transit are some form of hybrid/alternatefuel vehicles and analysts project this number to grow significantly over thenext 5 years. Enova's Post Transmission system is also used by the US Military,Mack Truck and most recently on thirteen (13) Verizon service vans. Enovaexpects volumes for the systems to increase as customers realize the benefitsthat it offers for both the new and retrofit markets. 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 forward-looking information should be considered only in connection withthe aforementioned risk factors. Enova assumes no obligation to update suchforward-looking statements. About Enova Systems, Inc. Enova Systems (AMEX: ENA and AIM: ENV and ENVS) is a leading supplier ofefficient, environmentally friendly digital power components and systemsproducts. 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-duty vehiclesas well as power conditioning and management systems for distributed generationsystems. The Company develops, designs and produces drive systems and relatedcomponents for electric, hybrid-electric, and fuel cell powered vehicles. Forfurther information, contact Enova Systems directly, or visit its Web site athttp://www.enovasystems.com About IC Corporation IC Corporation is a wholly owned subsidiary of Navistar InternationalCorporation (OTC: NAVZ). The nation's largest integrated manufacturer of schoolbuses, IC Corporation is a leader in passenger protection, chassis design,engines and ergonomics. The company is also a producer of commercial buses. AllIC Corporation buses are sold, serviced and supported through a renowned dealernetwork that offers an integrated customer program encompassing parts, trainingand service. Additional information is available site at: http://www.ic-corp.com. # # # This information is provided by RNS The company news service from the London Stock Exchange