T42 Iot Track. Regulatory News (TRAC)

17 Jan 2008 07:01

Traction Technology PLC17 January 2008 TRACTION TECHNOLOGY PLC ("Traction" or "the Company") Annual General Meeting Statement Nick Brayshaw, Chairman of Traction Technology PLC, will say at today's AGM: "In the past year, the Company has continued to focus on the design, developmentand delivery of its environmentally friendly, low emission Series DieselElectric Hybrid engine system, aimed initially at the public transport sector. "In July the company launched its TRIBRID power-pack at the Cenex Low CarbonVehicles Exhibition held in Leeds generating industry wide recognition as thefirst commercially available 'supercap' powered bus in the UK. The vehicle hasthe ability to draw on three separate power sources - the diesel engine,batteries or super-capacitors. The bus being run by Arriva Southern Counties ("Arriva SC") has been updated to the TRIBRID configuration. "Experience continues to be gained on active routes with Transport for Londonoperator Epsom Coaches, with Arriva North West, operating on Merseytravel'sCATCH Project, with Arriva SC in West Sussex and with Ipswich Buses Limited. "To date these four vehicles have completed over 70,000 miles, gaining real timeexperience and operational data on their performance with Traction's hybridengine system. "The company has increased its technical capability during the year and isdesigning the next generation of hybrid engine control system. The system willbe flexible and scalable to larger and smaller vehicles. It will provide moreeffective energy management and further increase reliability. "In November a Memorandum of Understanding was signed with The Optare Group tojointly develop a range of single deck hybrid vehicles for the UK Market. Aprototype vehicle is expected to run in service by mid 2008, with customervehicles available for delivery later in the year. "The growing recognition of the environmental benefits that come from hybridvehicles - particularly for the stop-start urban cycle - coupled with increasingpolitical and regulatory pressures, leaves the Company well positioned forfuture success. "We believe that we are now the most technologically advanced developer ofseries hybrids in the UK and look forward to maintaining the Company's position." Contacts: Traction Technology plc Ambrian Partners Ltd Parkgreen CommunicationsNick Brayshaw, Chairman Richard Brown Paul McManus01403 791392 Richard Greenfield 020 7479 7933www.ttplc.co.uk 020 7776 6400 07980 541 893 paul.mcmanus@parkgreenmedia.com This information is provided by RNS The company news service from the London Stock Exchange