Hyundai Santa Fe Fuel Cell Electric Vehicle Unveiled At California Fuel Cell Partnership Facility Grand Opening
Enova Systems of Torrance, Calif. (Nasdaq:ENVA), in collaboration with Hyundai Motor Company of Korea, International Fuel Cell (IFC), a unit of United Technologies Corporation (NYSE:UTX) and IMPCO Technologies Inc. (Nasdaq:IMCO), will unveil the Hyundai Santa Fe fuel cell electric vehicle (FCEV) at the California Fuel Cell Partnership (CFCP) Grand Opening in Sacramento today.
Enova Systems has developed the drive train, protection and power management systems and data acquisition systems for the vehicle in conjunction with Hyundai. Enova Systems hardware and software manages the power supplied by the fuel cell and converts it into propulsion power for the vehicle.
"This is a significant achievement for Enova Systems," said Carl Dean Perry, president and CEO. "The FCEV is a highly efficient alternative to traditional automobiles and will have lower emissions and higher fuel economy."
Working with Enova on the Hyundai fuel cell team, IFC supplies the fuel cell and IMPCO supplies the hydrogen fuel system technologies. The FCEV will undergo performance testing and evaluation by Hyundai.
"Our alliances with these companies strengthen Enova's market position for its power management, power conversion and drive systems. The successful integration of fuel cell technologies into the Hyundai Santa Fe SUV reinforces the Company's capability to apply its enabling technologies to a variety of applications," Perry explained.
The CFCP is a consortium of major international automobile manufacturers including Hyundai, Ford, General Motors, Daimler Chrysler, Nissan, Volkswagen and Honda as well as fuel providers and California and Federal government agencies. The Partnership was formed to advance development and commercialization of alternative energy use in automobiles and set the standard for environmentally friendly fuel cell vehicles.
Enova Systems, with headquarters in Torrance, Calif. and offices in Hawaii and Korea, is a leading designer, developer, and manufacturer of electric, hybrid-electric, and fuel cell propulsion systems and components for the global vehicle market. The Company's technology and products in power conversion, energy management, and system integration enables Enova Systems to integrate a wide range of power sources, including advanced batteries, fuel cells, and turbine generators, in mobile and stationary power applications.
The Company product lines include the Panther(TM) propulsion systems ranging from 30kW to 120kW, accessory power supplies for electric power steering and air-conditioning, DC-DC supplies for low voltage accessories, and battery management products. Enova's propulsion systems and components are used in vehicles from Hyundai Motor Company and are supplied to Ecostar for use in the Ford TH!NK city vehicle. Enova is also developing a new all-electric tram system for the U.S. Department of Transportation for use at Honolulu International Airport in Hawaii.
This news release contains forward-looking statements relating to the future performance of Enova Systems and the success of its products. These forward-looking statements are subject to certain risks and uncertainties and actual results may differ materially. These risks and uncertainties are detailed from time to time in Enova Systems' filings with the Securities and Exchange Commission.
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