Tanfield Regulatory News (TAN)

25 Feb 2008 07:01

Enova Systems, Inc.25 February 2008 Enova Confirms 2008/9 Production Order from Tanfield's Smith Electric Vehicles Deliveries of 90 and 120kW systems for 2008 to Tanfield have begun TORRANCE, CA February 25, 2008 - Enova Systems, (AMEX: ENA and AIM: ENV andENVS), a production company in an emerging industry and a leading developer ofproprietary electric, hybrid and fuel cell digital power management systems,confirmed that it has received a production order, and has begun delivering 2008production orders to Smith Electric Vehicles, a division of The Tanfield GroupPlc (TAN). Enova expects to supply Tanfield with in excess of 1,000 units during 2008, andas many as 3,000 in 2009. The 2008 order will predominantly supply Tanfield'sproduction line in Vigo Centre, UK. However, Tanfield also intends to startproduction of its commercial electric vehicles in North America during thiscalendar year. "Tanfield is the worldwide leader in zero emission vehicle production. ChoosingEnova as its supplier solidifies us as a world leader in the electric drivemarket. We look forward to the continuation of our successful partnership withTanfield in this immense market" stated Mike Staran, Enova's President and CEO. Under this new, extended supply agreement, Enova will continue delivering their90kW and 120kW electric drive components to Tanfield during 2008, and beyond. Darren Kell, Chief Executive of The Tanfield Group Plc, said, "Enova'scomponents have proved to be an extremely reliable, efficient, and robust partof our electric vehicle drive train." Mr. Kell continued, "Enova's capability to produce high quality product involume means they remain a preferred supplier, as Tanfield significantlyincreases production of its commercial electric vehicles." Enova has supplied electric drive train components to Tanfield since 2006, tohelp produce high performance electric drive train systems for Smith ElectricVehicle's zero emission vans and trucks. Smith utilises a 120kw electric drivesystem in the Smith Newton, the world's first zero emission 7.5t - 12ttruck. A90kw electric drive system is installed in the Smith Edison, the world's firstall-electric sub-3.5t van. A typical Smith Electric vehicle can achieve ranges of up to 150 miles betweenbattery charges and speeds of 50 mph. Because they are zero emission, SmithElectric Vehicles are exempt from the London Congestion Charge and also qualifyfor free parking in parts of central London. They also qualify for other taxbreaks and costly license exemptions. Smith Electric Vehicles, based in Tyne & Wear, United Kingdom, is both theworld's oldest electric vehicle manufacturer and the world's largest producer ofroad-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. About Tanfield: The Tanfield Group Plc is the world's leading developer and manufacturer ofroad-going commercial electric vehicles and aerial work platforms. Tanfield isheadquartered in Newcastle with operations in both the North America and EMEAregions. It has two main divisions: Smith Electric Vehicles, was founded in 1920 and acquired by Tanfield in October2004. Following its acquisition, Smith is developing into a world leader in newtechnology electric vans and trucks with greatly enhanced performance, speed andrange capabilities. This makes them attractive for all fleet operators in largetowns, cities and closed industrial environment. For the first time, these fleetoperators have economically viable, zero emission alternatives to using dieselvans and trucks. Smith has an unrivalled UK-wide service and support network,which already maintains over 5,000 vehicles for major fleet operators. This coreelement of the business is beginning to fulfil its potential in terms ofaddressing the requirements of large urban fleet operators, who want to reducetheir operational costs and more importantly, greatly reduce their carbonfootprint. Smith's airport offering is complemented by two specialist airportvehicle sub-divisions; Jumbotugs and Norquip. www.smithelectricvehicles.com Powered Access, contains two of the world's most established aerial workplatform brands, UpRight Powered Access and Snorkel International. UpRight isfirmly established as the UK's biggest manufacturer of self-propelled aerialwork platforms (also known as "cherry-pickers", "mobile elevating workplatforms", "aerial lifts", etc). UpRight has assembly facilities in the UK andUSA, with products sold through a strong network of over 180 independent,full-service distributors across Europe, the Middle East and Asia-Pacificregions. Snorkel, acquired in July 2007, has significant manufacturingcapabilities along with strong sales and distribution, in the USA andAustralasia. Tanfield has been successful in extending its powered accessproduct range and is now one of only three "full line" aerial lift manufacturersto have a significant assembly footprint in both the North America and EMEAregions, in what is a $7bn global market. www.upright.com / www.snorkelusa.com 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.1560 West 190th StreetTorrance, CA 90501310-527-2800Contact: Jarett Fenton, Chief Financial Officer/Investor Relations +44-(0)7956 206270Amira Bardichev, Investor Relations Consultant 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 31,2006. This information is provided by RNS The company news service from the London Stock Exchange