Enova to Develop Revolutionary Electric Drive System in Collaboration with Remy Inc.
08 July 2010 - 11:00PM
Business Wire
Enova Systems, Inc. (NYSE AMEX:ENA) (AIM:ENV) (AIM:ENVS), a
leading innovator of proprietary hybrid and electric drive systems
propelling the alternative energy industry, announced it will
collaborate with Remy Inc. (Remy) to develop a new electric drive
system based on the Omni controller and Remy HVH motor. Remy is
North America’s largest independent manufacturer of advanced
electric propulsion motors. Remy’s patented design and assembly
technology have been in production since 2006 and are currently
powering vehicles around the world.
“This will allow Enova to apply its state-of-the-art Omni
controller technology to Remy’s advanced new HVH permanent magnet
motors to deliver a high-performance solution for hybrid and
all-electric vehicles,” said Enova CEO and President Mike Staran.
“Combined, these two technologies and the expertise behind them
create a solution that will enable vehicle manufacturers and system
integrators to more easily and efficiently develop reliable,
high-performance drivetrains.”
John Weber, Remy CEO, added, “Remy is proud to collaborate with
Enova as a provider of drivetrain solutions for this market.
Whenever we collaborate, we seek innovative companies like Enova
that are dedicated to reliability, quality and the customer.”
The companies signed a non-exclusive Letter of Intent on June
30. Said Staran, “The optimized controller-motor solution we are
developing demonstrates the strong technology heritage and
commitment to customers that Enova continues to bring to the hybrid
and all-electric vehicle market.”
About Remy International,
Inc.
Remy International, Inc., headquartered in Pendleton, Indiana,
is a leading global manufacturer, remanufacturer and distributor of
light duty starters and alternators and Delco Remy brand heavy-duty
systems. Remy International also manufactures and distributes
electric propulsion motors designed with leading edge technology
and backed by the security of over a billion miles of proven
reliability. In business for over 100 years, today Remy
International is actively collaborating with companies throughout
the world to develop innovations that are transforming the vehicle
industry. Recently, Remy International was recognized by the United
States Department of Energy for its leadership role in the hybrid
technologies space and awarded a $60 million grant under the
Electric Drive Vehicle Battery and Component Manufacturing
Initiative. To learn more, visit the Remy brand website at
www.remyinc.com.
About Enova:
Enova Systems (NYSE AMEX:ENA) (AIM:ENV) (AIM:ENVS) 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 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
non-invasive drive systems and related components for electric,
hybrid-electric, and fuel cell powered vehicles in both the “new”
and “retrofit” vehicle sales market. For further information,
contact Enova Systems directly, or visit its Web site at
http://www.enovasystems.com.
Additional Information:
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, 2009.
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