Enova Announces Development of ACUMENTM System
May 23 2012 - 8:00PM
Business Wire
Enova (NYSE AMEX: ENA) (AIM: ENV) (AIM:
ENVS), a leading developer of proprietary hybrid electric and
all-electric drive systems and drive system components for the
emerging green commercial vehicle market, announced today it has
begun development of its next generation system, code named
ACUMENTM. With the completion of its OMNITM drive system, the
Company is now looking to further optimize its ability to interface
with all worldwide EV and HEV systems, including those powered by
natural gas.
Enova previously announced its new OMNITM drive system which
combines the 170kW OMNITM Inverter with a new 10kW OMNITM Charger
with an entire range of AC Induction and Permanent Magnet motors.
The OMNITM, now available, is expected to be a leading technology
for the industry for years to come.
While OMNITM was developed in house, with the ACUMENTM system,
Enova looks to evaluate and utilize technologies that are emerging
worldwide. The Company is actively searching for the latest
technologies to maintain OEM proven leadership and offer
competitive advantages that make real business sense for vehicle
manufacturers and fleet operators alike. The ACUMENTM components
are intended to feature a significantly smaller package, improved
efficiencies and reduced weight, while achieving close to double
the power density of older generation designs and competitors
products. The new ACUMENTM-Series system will be power-source
agnostic, including natural gas, and will offer increased
application flexibility and ease of integration. With all digital
control and plug-and-play connectivity, Enova intends to design
ACUMENTM to be compatible with all vehicle drive systems and motors
so that it can be configured for HEV, PHEV and EV applications.
As a result of Enova’s initiative to develop ACUMENTM using the
industry’s most advanced technologies, the Company recently hosted
EV France (www.ubifrance.com), a consortium of top French
automotive manufacturers including Renault, Peugeot and Volvo
Truck, suppliers, clusters and research laboratories working in the
field of hybrid and hybrid electric vehicles, advanced batteries
and infrastructure support. Enova met with EV France
representatives at its headquarters in Torrance, California to
forge research, commercial and partnership opportunities. The group
was able to view Enova’s technology as well as participate in an
on-site ride and drive of Enova’s range of drive systems, including
the new OMNITM drive system. France has the second largest auto
market in the EU with over 2.2 Million cars sold in 2011. More EVs
were sold in France in 2011 than in any other country in Europe.
Germany has the largest automotive market in Europe and after
France, the second largest EV market. Enova has also met with a
similar group from Germany and will continue to mature these
opportunities in its expansion into the European markets. In the
UK, the third largest EU EV market, Enova already supplies both
Smith Electric Vehicles as well as Optare, who just announced the
launch of the Solo SR EV’s trials in Poundbury.
http://www.optare.com/pr_18_05_12.htm
It is believed by Enova that recent reluctance in the industry
to deploy large volumes of EVs validates the need for groups to
compliment each other’s technologies to drive the industry. Mike
Staran, Enova’s President and CEO, said, “The industry is at a
position where we are trying to get enough critical mass to move
forward, yet there remains extreme caution and a lack of urgency in
regards to larger volume EV deployments. Enova’s aggressive
approach towards forging worldwide partnerships should further
strengthen our ability to control distribution channels and move
past the caution that currently exists.”
About Enova:
Enova Systems (http://www.enovasystems.com) 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, medium 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, gas and fuel cell powered vehicles in
both the “new” and “retrofit” vehicle sales market. For further
information, please 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, 2011 and Form 10-Q for the quarterly
period ending March 31, 2012.
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