OAK PARK, MI, July 29 /PRNewswire-FirstCall/ - Azure Dynamics Corporation
(TSX: AZD, LSE: ADC & OTCQX: AZDDF) - ("Azure" or the "Company"), a leading
developer of hybrid electric and electric powertrains for commercial vehicles,
announced today that it has received orders for two Hybrid Citibuses from the
West Harlem Art Fund, Inc (WHAF). WHAF is a ten year old community-based,
cultural arts and preservation organization serving northern Manhattan in New
York City.
The Hybrid Citibuses will serve WHAF's "Harlem-Heights Culture Loop" program
where participants experience Harlem's old world charm as well as its new
urban sophisticated upbeat future by touring various points of art, cultural
and environmental interest.
"We are thrilled to provide buses for the West Harlem Art Fund project," said
Jay Sandler, vice president of sales for Azure Dynamics. "WHAF uses the
tagline, 'Feel the energy come alive' and our fuel efficient and green
technology hybrid electric buses allow their patrons to do just that in a very
tangible way complimenting the urban energy of the Harlem community."
"At WHAF, we are guardians of our community's past as well as visionaries
directing its future," said Savona Bailey-McClain, Executive Director. "We
want to use vehicles that are consistent with that mission. Our new hybrid
buses will conserve fuel, cost less to maintain and reduce harmful greenhouse
gas emissions."
Organizations like the New York Audubon Society, which partners with WHAF on
some programs, especially appreciate the environmentally friendly
transportation.
The Azure Hybrid Citibus uses the HD bus body manufactured by StarTrans. The
bus features engine off at idle and regenerative braking to improve fuel
economy by 40% while reducing both greenhouse emissions and maintenance costs
by 30%. The New York State Energy Research and Development Authority and New
York Power Authority provided funding for the WHAF buses.
For more information about Azure Dynamics and its family of hybrid electric
and electric commercial vehicles, please visit www.AzureDyunamics.com.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) (LSE: ADC) (OTCQX: AZDDF) is a world
leader in the development and production of hybrid electric and electric
components and powertrain systems for commercial vehicles. Azure is
strategically targeting the commercial delivery vehicle and shuttle bus
markets and is currently working internationally with various 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 www.azuredynamics.com.
About West Harlem Art Fund:
The West Harlem Art Fund, Inc is a ten year old community-based, cultural arts
and preservation organization. Comprised of over ten volunteers serving
Northern Manhattan communities, The West Harlem Art Fund offers exhibition
opportunities for Northern Manhattan artists and artists wishing to share
their art with residents uptown. For more information please visit
www.myharlem.org
The TSX and LSE Exchanges do not accept responsibility for the adequacy
or accuracy of this release.
Forward-looking Statements
This press release contains forward-looking statements. More particularly,
this press release contains statements concerning Azure's business development
strategy, projected commercial revenues and product deliveries.
The forward-looking statements are based on certain key expectations and
assumptions made by Azure, including expectations and assumptions concerning
achievement of current timetables for development programs, target market
acceptance of Azure's products, current and new product performance,
availability and cost of labour and expertise, and evolving markets for power
for transportation vehicles.
Although Azure believes that the expectations and assumptions on which the
forward-looking statements are based 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
inherent risks and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and risks. These
include, but are not limited to, the risks associated with Azure's early stage
of development, lack of product revenues and history of losses, requirements
for additional financing, uncertainty as to commercial viability, uncertainty
as to product development and commercialization milestones being met,
uncertainty as to the market for Azure's products and unproven acceptance of
Azure's technology, competition for capital, product market and personnel,
uncertainty as to target markets, dependence upon third parties, changes in
environmental laws or policies, uncertainty as to patent and proprietary
rights, availability of management and key personnel, and acquisition
integration risk. These risks are set out in more detail in Azure's annual
information form which can be accessed at 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.
SOURCE Azure Dynamics Corporation
Ryan Carr, Chief Financial Officer, (248) 298-2403, Email:
rcarr@azuredynamics.com; Pat Liebler, Liebler!MacDonald, (313) 832-4376,
Email: pat@lieblergroup.com; Stuart Skinner, Richard Kenny, Tel: +44 207 260
1000, Numis Securities Limited as Nominated Adviser to the Company; David
Poutney, Tel: +44 207 260 1000, Numis Securities Limited as Broker to the
Company
