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21 Oct 2008 07:00
Enova Plans Series of Updates to Worldwide Market
Will Also Display Hybrid Double Deck Bus and All Electric Bus
TORRANCE, CA, October 20, 2008 - Enova Systems, (AMEX: ENA and AIM: ENV and ENVS), a production company in an emerging industry and a leading developer of proprietary electric, hybrid and fuel cell digital power management systems has planned a series of updates to the market. Enova will participate in two (2) public discussions to update their shareholders and the international investment community, and will participate in three (3) leading industry events to showcase their technology, including new drive systems for a hybrid double deck bus and an "all-electric" city bus.
Mike Staran, Enova's President and CEO said "We are looking forward to updating the market on our recent progress in many areas of our business. Highlighting recent initiatives that strengthen our position as a leading supplier of a broad range of HEV and EV drive system solutions will clearly demonstrate our commitment to growing the EV and HEV market worldwide. Specifically, application of our drive system technologies in a new and revolutionary Double Deck bus and an all-electric bus certainly displays our commitment to technological growth which will stimulate the market."
During the week of November 17th, Enova will webcast a discussion forum to discuss its progress in the market. Enova's recently elected Chairman, Mr. John Wallace, along with Enova President and CEO Mike Staran and Enova CFO Jarett Fenton will address current and future activities within both the company and market. Participating in the forum as a special guest, will be IC Bus' Director of Marketing, David Hillman. The forum will include questions from our shareholders, analysts, and other interested parties. For consideration, questions must be submitted in writing to Helen Sobhani, either by email to hsobhani@enovasystems.com, or by letter to her attention at the address below. Questions must be received by Wednesday, November 5th. The webcast will be available on the Enova Systems website, www.enovasystems.com
On October 22, 2008, Enova's CEO, Mike Staran, will present at the Jefferies 6th Global Clean Technology Conference in London, United Kingdom. Interested parties can listen and view the presentation via the following link:
http://www.wsw.com/webcast/jeff30/ena.ln
This conference will highlight a range of industry leaders and emerging growth companies. This one day event will highlight more than 40 public and private companies who are addressing today's critical energy supply and security issues, environmental concerns and sustainability challenges. A range of technologies will be featured including advanced batteries, bio fuels, energy demand response, energy infrastructure, industrial biotechnology, solar, water and wind. Mr. Staran will specifically address the electric and hybrid vehicle markets and the advancements being made in this segment, by Enova Systems. Additionally, he will discuss technology that will further enhance Enova's position in the market.
In addition to the above executive updates, Enova will participate and display their technology at leading conferences, shown below:
NAPT October 2008- The National Association for Pupil Transportation conference and trade show is the largest event in North America showcasing the newest advancements in school transportation products and services. The event will take place in Myrtle Beach, South Carolina on October 26-30, 2008. At this year's event, Enova will highlight its latest post-transmission hybrid technologies for school bus applications. This event gives Enova the opportunity to strengthen and expand our relationship as the exclusive hybrid drive supplier for school buses for IC Bus, a division of Navistar, Inc. IC Bus has over 60% of the North American school market. Key decision makers and opinion leaders from state and county transportation agencies and school districts from around North America will be in attendance.
Euro Bus Expo November 2008 - Enova will participate in Europe's largest dedicated industry event, by displaying their drive system in a major OEM's Hybrid Double Deck Bus, as well as an All-Electric Bus. Manufacturers and suppliers from every corner of Europe's bus and coach industry will participate in largest dedicated exhibition for the sector. Euro Bus Expo 2008 (EBE08) takes place at the National Exhibition Centre (NEC) in Birmingham on 4-6th November, with leading industry names from countries including Belgium, France, Germany, Holland, Italy, Sweden , Denmark, Spain, Turkey and of course the UK contributing to the list of over 300 exhibitors. In total, over 30 leading chassis, body and complete vehicle manufacturers from Europe and beyond will be exhibiting at the show. Vehicle solutions is one of three major themes - technology, environment provide the other two - which reflect the key issues that are currently driving the development of the European road based passenger transport industry.
IC Bus (Navistar) Customer Advisory Board Meeting November 2008 - Enova will host the IC Bus Customer Advisory Board Meeting on November 12 and 13 at the Enova headquarters in Torrance, California. This bi-annual event brings together the top IC Bus customers from around North America for a series of open discussions and forums on the key issues effecting student and commercial transportation. James Badalamenti, Enova's Director of Worldwide Sales and Marketing said, "We are honoured and excited to host this important event which brings together IC Bus's top customers and opinion leaders. This will be the perfect forum for Enova to highlight its newest advances in hybrid drive technology and the improving return on investment in hybrid buses for school districts and commercial applications."
EDTA December 2008 - Enova will again be a key sponsor of the Electric Drive Transportation Association annual conference and trade show in Washington, D.C. on December 2-4. The annual EDTA conference is the premier industry event that provides an open forum for discussion and presentation of research and development of electric drive technology including battery, plug-in, hybrid and fuel cell. Enova will present its newest advancements in EV and HEV technology at this important event.
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 website 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, 2007. 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.
For further information contact:
ENOVA SYSTEMS, Inc.
1560 West 190th Street
Torrance, CA 90501
T. + 310-527-2800
Jarett Fenton, CFO and Investor Relations
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