Azure Dynamics Announces Order from Metro Mobility

Published in House and Home on Thursday, June 11th 2009 at 9:35 GMT, Last Modified on 2009-06-11 09:37:17 by Market Wire
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OAK PARK, MI, June 11 /CNW/ - Azure Dynamics Corporation (TSX: AZD) - ("Azure") or (the "Company"), a leading developer of state-of-the-art green technologies that address environmental and cost issues for the commercial transportation industry, today announced an initial order for fifteen Balance(TM) Hybrid Electric shuttle buses from Metro Mobility in Minnesota. Metro Mobility is a public transit service of the Metropolitan Council and provides door-through-door ADA paratransit service in the Minneapolis/St. Paul region. The buses will be delivered in the fourth quarter of 2009. Jay Sandler, Azure's Vice President of Sales, commented, "The Metro Mobility buses represent another victory for our channel distribution strategy. By partnering with Hoglund Bus, a commercial vehicle distributor in Monticello, Minnesota, and Turtle Top Bus, a specialty vehicle manufacturer in New Paris, Indiana, we were able to submit a comprehensive bid that ultimately earned the Metro Mobility contract. In turn, the buses we provide Metro Mobility will help the organization lower its operating costs, substantially reduce greenhouse emissions and provide reliable transportation for residents in the Twin Cities region." The purchase of Azure's hybrid drive train is a result of the Twin Cities Metropolitan Council's stated goal to increase usage of green technologies in the region. The contract covering this order remains open should other Minnesota entities desire to add Azure products to their portfolios. "Earning the Metro Mobility business represents a great first step for our partnership with Azure and Turtle Top," said Scott Gretsch, Commercial Vehicle Sales at Hoglund Bus. "Increasingly, our customers are expressing interest in hybrid transportation solutions that are environmentally friendly and cost effective. We're thrilled to support Metro Mobility in its important mission of providing transportation services to area residents." The Azure Balance(TM) Hybrid Electric system specified by Metro Mobility has unique attributes like engine-off at idle and at below 20 miles per hour, while electronically supporting key ancillary functions like air conditioning, power steering and braking. The drive train, with a Ford 5.4L engine, can improve fuel economy substantially, while reducing carbon emissions by up to 30% in city conditions. The hybrid drive train also offers a significant reduction in maintenance costs versus conventionally equipped competitors. About Hoglund Bus and Truck Over the past 60 years, with a commitment to customer satisfaction, Hoglund Bus and Truck has evolved as a leader in the transportation industry. Their two locations, Monticello, MN. and Marshalltown, IA, carry extensive inventories of new and used school buses, commercial buses, medium duty trucks, and related parts and services. Additional information is available site at [ www.hoglundbusandtruck.com ]. About Azure Dynamics Azure Dynamics Corporation (TSX: AZD) 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 ]. The TSX Exchange does 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.

For further information: Mike Elwood, Vice President-Marketing, (905) 607-3486 x203, Email: [ melwood@azuredynamics.com ]; Jay Sandler - Vice President - Sales, (248) 298-2403 ext 1205, Email: [ jsandler@azuredynamics.com ]; Patrick Liebler, Liebler Group, (248) 229-4418, Email: [ pat@lieblergroup.com ]

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