Azure Dynamics Corporation

Azure Dynamics Announces 45 Transit Connect Electric Sales

Oak Park, Michigan (ots/PRNewswire) -

        - Global orders of Transit Connect Electric exceed $32 million since its
          introduction
        - New North American customers include orders through the General Services
          Administration, Verizon, an internet company, a Northeast university, a utility
          company and Ford Commercial Truck dealerships
        - New European customers include government authorities, and Ford dealerships 

Azure Dynamics Corporation ("Azure" or the "Company"), a world leader in the development and production of hybrid electric and electric components and powertrain systems for light and medium duty commercial vehicles, today announced 45 new Ford Transit Connect Electric sales, including 20 units in Europe and 25 units in North America, which includes six initial units through the General Services Administration (the "GSA") via Northside Ford in San Antonio, TX, a four unit order from Verizon and a four unit order from an internet company.

"We are pleased to have received several initial orders through the GSA as various U.S. government agencies, affiliated companies and military installations begin their procurement process for fiscal 2012," said Scott Harrison, Azure's CEO. "The Transit Connect Electric, offering low operating costs and zero tailpipe emissions, is the ideal versatile product that can serve a myriad of government fleet needs, particularly within the Armed Services."

Since most commercial and government fleets spend a significant portion of their operational costs on fuel alone, there has been a dramatic surge in the demand for electrified alternatives. These fleet operators are increasingly seen as the logical starting point for electric vehicles due to typical drive cycles that include travel on predictable, short-range, routes with frequent stop and go driving that generally return to a central location at the end of a drive cycle making for efficient and convenient recharging over night.

"We are also pleased to see continued adoption among universities and large companies, such as Verizon," continued Harrison. "Fleet operators, big and small businesses and colleges worldwide increasingly recognize the value the Transit Connect Electric offers in helping them reduce cost and meet their environmental goals."

Azure is a leading provider of electric drive technology for light to medium-duty commercial fleet vehicles in North America and is the first authorized provider of electric and hybrid electric solutions on Ford's market leading light-and medium-duty commercial vehicles.

"With these new orders, our global Transit Connect Electric sales exceed $32 million in less than 12 months of production," continued Harrison. "And, our network of over 160 Ford dealers globally continues to drive our sales growth while providing outstanding service for our customers."

Azure Dynamics has agreements with over 160 Ford commercial truck dealerships in key markets across North America, 90 of which support sales and service activities for Transit Connect Electric and in six countries throughout Europe representing 13 dealerships with 57 store locations.

Transit Connect Electric expands its customer base:

The 45 Transit Connect Electric vans announced today were sold to a variety of customers across North America and Europe as wells as to a number of Ford commercial truck dealers who will use the vans as customer demonstrators to increase awareness and appreciation of the product. These sales include:

UNITED STATES

California

- Mission Valley Ford in San Jose, CA (4 units) - Kearny Pearson Ford in San Diego, CA (1 unit) - Trans West Ford in Fontana, CA (2 units) - Frontier Ford in Santa Clara, CA (1 unit) - Siemens through East Bay Ford in Oakland, CA (1 unit)

Connecticut

        - Norwich Public Utilities through Interstate Ford in Hartford, CT (1 unit) 

Florida

- Bartow Ford in Lakeland, FL (1 unit)

Georgia

- Peach County Ford in Byron, GA (1 unit)

Massachusetts

- Verizon through Stoneham Ford in Stoneham, MA (4 units) - Stoneham Ford in Stoneham, MA (1 unit)

Texas

- Northside Ford in San Antonio, TX (6 units through the GSA)

CANADA

        - Boisvert Ford in Quebec (1unit)
        - City of Hamilton ON through Oak-land Ford in Oakville, Ontario (1 unit) 

GERMANY

- Sachsengarage Ford in Dresden, Germany (1 unit) - Kuttendreier Ford in Munich, Germany (1 unit) - Sigg& Still Ford in Augsburg, Germany ( 1 unit) - KADEA Ford in Berlin, Germany (1 unit) - Pfohe Siemens Ford in Nuremburg, Germany (1 unit)

NETHERLANDS

        - Ardea Ford in Netherlands (7 units)
        - Dutch Royal Family through Ardea Ford in the Netherlands (1 unit) 

NORWAY

- RohneSelmer Ford in Norway (4 units)

UNITED KINGDOM

- Brighton Council through Ford Retail in the UK, (3 units)

The Transit Connect Electric utilizes an advanced lithium-ion battery from Johnson Controls to achieve a range of 50 to 80 miles depending on auxiliary usage and drive cycle and is rechargeable using either a 240-volt or standard 120-volt outlet. Commercial vans generally return to a central location at the end of each driving cycle making for easy overnight recharging. Use of the vehicles will also reduce fuel and maintenance costs, as well as reducing greenhouse gas emissions.

For more information on how Azure Dynamics powertrains are 'Driving a World of Difference,' please visit http://www.azuredynamics.com.

About Azure Dynamics

Azure Dynamics Corporation is a world leader in the development and production of hybrid electric and electric components and powertrain systems for light and medium duty commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with a variety of partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally-friendly energy management solutions. For more information please visit http://www.azuredynamics.com.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements Advisory

Certain information included in this press release constitutes forward-looking statements and information and future-oriented financial information under applicable securities legislation and is provided for the purpose of expressing management's current expectations and plans for the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

More particularly, this press release contains statements concerning Azure's anticipated: business development strategy, customer orders, product deliveries, sales, revenue and revenue growth. The forward-looking statements are based on a number of key expectations and assumptions made by Azure, including expectations and assumptions concerning achievement of current timetables for development programs and sales, target market acceptance of Azure's products, current and new product performance, availability and cost of labor and expertise, and evolving markets for power for transportation vehicles. Although Azure believes that the expectations and assumptions used to develop the forward-looking statements are reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give no assurance that they will prove to be correct.

Since forward-looking statements address future events and conditions, by their very nature they involve numerous risks and uncertainties that contribute to the possibility that the projections and forecasts in the forward-looking statements will not occur and that actual performance or results could differ materially from those anticipated in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks associated with Azure's stage of development, history of losses and lack of historical product revenues, uncertainty as to product development and sales milestones being met, product defect and performance risks, competition for capital and market share, uncertainty as to target markets, dependence upon third parties, changes in environmental laws or policies, uncertainty as to patent and proprietary rights, availability and retention of management and key personnel, exchange rate and currency fluctuations, uncertainties relating to potential delays or changes in plans with respect to product development or capital expenditures, the ability of Azure to access sufficient capital on acceptable terms, and environmental and safety risks. This is not an exhaustive list and additional information on these risks and other factors that could affect Azure's operations and financial results are included in reports on file with the Canadian securities regulatory authorities and can be accessed through the SEDAR website athttp://www.sedar.com.

The forward-looking statements contained in this press release are made as of the date hereof and Azure undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Additionally, Azure undertakes no obligation to comment on the expectations of, or statements made by, third parties about Azure.

For further information:JurisPagrabs, Vice President, Investor Relations, +1-248-298-2403 ext 7570, Email: jpagrabs@azuredynamics.com

 


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