Azure Dynamics Announces Additional Order of 50 Vehicles from Purolator

Published in House and Home on Thursday, June 18th 2009 at 13:10 GMT, Last Modified on 2009-06-18 13:11:28 by Market Wire
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OAK PARK, MI, June 18 /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, announced today that Purolator Courier Ltd. ("Purolator") has placed an order for an additional 50 Balance(TM) Hybrid Electric trucks. The trucks will be delivered in the fourth quarter 2009 and will be deployed primarily in Ontario. Purolator previously received its initial order of 105 Balance(TM) Hybrid Electrics. "In keeping with its commitment to minimize its environmental footprint, Purolator continues to upgrade its vehicle fleet with cleaner and greener Azure vehicles," said Scott Harrison, Azure Dynamics Chief Executive Officer. "We're delighted with our relationship with Azure and the performance of our current fleet of Azure products," said Serge Viola, Director, National Fleet and Ground Line Haul for Purolator. "They are helping us reduce operating costs by improving our fuel economy and up time. We look forward to expanding our hybrid fleet in communities across Canada." The Azure Balance Hybrid Electric vehicles ordered by Purolator are integrated on a Ford E450 chassis. The hybrid drive train has unique attributes like engine-off at idle and at below 20 miles per hour, while electronically supporting key ancillary functions like power steering and braking. The powertrain, with a Ford 5.4L gasoline engine, can improve fuel economy by up to 40%, while reducing carbon emission by up to 30% in city conditions. The powertrain also offers a significant reduction in maintenance costs versus conventionally equipped competitors. About Purolator Purolator Courier Ltd. of Mississauga, Ontario is proud of its Canadian heritage. As Canada's largest courier company and one of Canada's 10 Most Admired Corporate Cultures(TM) (2008), Purolator is committed to its customers and over 12,500 employees, including more than 3,500 couriers. From automated solutions to 24 hour pick up and delivery, Purolator provides customers with the services and customized solutions required to get their shipments across town or around the world. Purolator operates Canada's largest dedicated air express fleet and has an extensive service network, with over 140 operations locations, over 140 Shipping Centres, over 550 Authorized Shipping Agents and more than 350 drop boxes. Purolator has also implemented a company-wide Quality Leadership Process that provides the necessary framework for continuous improvement and operational excellence. As part of its commitment to helping alleviate hunger, Purolator also works closely with Food Banks Canada. Since 2003, Purolator has helped collect more than two million pounds of food for local food banks across Canada. For more company information please visit [ www.purolator.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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