MEMPHIS, Tenn.--(Business Wire)--
FedEx Freight Corp., a leading provider of regional and long-haul
less-than-truckload (LTL) services in the U.S., and Vision Industries Corp.
(OTCBB: VIIC), producers of the zero emission plug-in electric/hydrogen fuel
cell hybrid Tyrano truck, today announced that the companies have entered into
an agreement to test a tractor powered by the hydrogen/electric hybrid Tyrano
drive train. FedEx Freight Corp. is a subsidiary of FedEx Corp. (NYSE: FDX).
As part of the agreement, Vision Industries Corp. will configure a FedEx Freight
tractor with its hydrogen/electric hybrid Tyrano drive train. The reconfigured
vehicle will then be tested for one year in certain operations to evaluate the
operational suitability of the Vision Tyrano technology.
"It is our goal to be involved in projects such as this to further the
advancement of alternative fuels that both reduce our dependence on foreign oil
and are good for the environment," said Douglas G. Duncan, president and CEO,
FedEx Freight. "We are excited about technological advancements we see today in
transportation and look forward to what the future holds in this arena."
Martin Schuermann, president & CEO of Vision, stated, "We applaud the FedEx
vision of an environmentally friendly heavy-duty truck fleet. We believe that
our zero emission Tyrano-powered vehicle will help FedEx Freight work toward its
goal of reducing its carbon footprint."
About FedEx Freight
Within FedEx Corp., the FedEx Freight Segment had annual revenues of $4.4
billion in fiscal year 2009. With corporate offices in Memphis, Tenn., the
Segment includes FedEx Freight, a leading U.S. provider of regional LTL freight
services; FedEx National LTL, a leading U.S. provider of long-haul LTL services;
FedEx Freight Canada, an LTL operating company serving most points in Canada;
and FedEx Custom Critical, North America's largest time-specific, critical
shipment carrier. For more information, visit the FedEx web site, fedex.com.
About FedEx
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad
portfolio of transportation, e-commerce and business services. With annual
revenues of $34 billion, the company offers integrated business applications
through operating companies competing collectively and managed collaboratively,
under the respected FedEx brand. Consistently ranked among the world's most
admired and trusted employers, FedEx inspires its more than 275,000 team members
to remain "absolutely, positively" focused on safety, the highest ethical and
professional standards and the needs of their customers and communities. For
more information, visit news.fedex.com.
About Vision Industries Corp.
Vision is a provider of hydrogen fuel cell/plug-in electric powered vehicles and
turnkey hydrogen fueling systems. Vision`s proprietary hydrogen fuel
cell/plug-in electric drive system combines the superior acceleration of a
battery powered electric vehicle with the extended range provided by a hydrogen
fuel cell. Vision uses major manufacturers as partners or sub contractors to
produce its vehicles. This business approach avoids massive outlays of startup
capital. Many regional, state and federal alternative energy programs in the
form of grants, subsidies, tax credits and loans exist or are planned. For more
information on Vision Industries Corp., please visit
www.visionindustriescorp.com
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. When
used in this press release, the words "anticipate," "believe," "estimate,"
"may," "intend," "expect" and similar expressions identify such forward-looking
statements. Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the forward-looking statements
contained herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks and
uncertainties. These include, but are not limited to, risks and uncertainties
associated with: the impact of economic, competitive and other factors affecting
the Company and its operations, markets, product, and distributor performance,
the impact on the national and local economies resulting from terrorist actions,
and U.S. actions subsequently; and other factors available from the Company.
Investor Contact: Redwood Consultants, LLC 415.884.0348
investorinfo@redwoodconsultants.com
FedEx Freight
Debra Phillips, 901-434-3122
debra.phillips@fedex.com
Copyright Business Wire 2009
