Amerigon receives $4.3 million in grants and orders for electric vehicle program; backlog increases.MONROVIA, Calif.--(BUSINESS WIRE)--Sept. 11, 1995--Amerigon Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ARGNA) Monday announced that it has received a $2.5 million grant through CALSTART from the Federal Transit Administration The Federal Transit Administration (FTA) is an agency within the United States Department of Transportation (DOT) that provides financial and technical assistance to local public transit systems. The FTA is one of eleven modal administrations within the DOT. of the U.S. Department of Transportation and $0.5 million from the Advanced Research Project Agency of the U.S. Department of Defense. With $1.3 million in recent additions to the company's initial commercial production order for electric vehicles, Amerigon's backlog for all products is now $11.8 million. The company continues to receive new prototype and development orders for its climate-controlled seat and ultra-wide band radar product lines. Dr. Lon E. Bell, chairman and chief executive officer of Amerigon, noted that the federal grants support the design and initial production of electric vehicles and thanked Congressman Ron Dellums Ronald Vernie (Ron) Dellums (born November 24, 1935), U.S. Democratic Party politician, is the mayor of the City of Oakland, California. He was a U.S. Representative from California from 1971 until his resignation on February 6, 1998 and following that, a lobbyist until his for his participation in securing the federal funds Federal Funds Funds deposited to regional Federal Reserve Banks by commercial banks, including funds in excess of reserve requirements. Notes: These non-interest bearing deposits are lent out at the Fed funds rate to other banks unable to meet overnight reserve . CALSTART, a California, nonprofit consortium focused on developing advanced transportation technologies, has played a major role in efforts to convert the former Alameda Naval Air Station A Naval Air Station is an airbase of the United States Navy. Such bases are used to house Naval Aviation squadrons and support commands. List of Functioning US Naval Air Stations
Congressman Ronald V. Dellums, stated: "Amerigon stands at the forefront of the electric vehicle industry, as well as related product development. I am pleased to have played a role in helping the company receive federal funding and look forward to ongoing developments at the Alameda facility." Michael J. Gage, president of CALSTART, stated: "The Alameda facility represents a launch pad for innovative technologies and projects in California. We are delighted that Amerigon will locate its electric vehicle manufacturing operation at a facility that will soon house natural gas, electric and hybrid technology companies." In a major Labor Day Labor Day, holiday celebrated in the United States and Canada on the first Monday in September to honor the laborer. It was inaugurated by the Knights of Labor in 1882 and made a national holiday by the U.S. Congress in 1894. picnic address at the Alameda County Fairgrounds n. pl. 1. same as fairground. in Alameda, Calif., President Clinton praised Amerigon and described the utilization of the former Naval Station for electric vehicle production as the type of defense conversion program which will offer high-quality, skilled jobs and clean environmental products. Bell added that Amerigon's electric vehicle production process features a chassis structure formed from an extruded aluminum space frame. He stressed that there are distinct advantages to this process, including reduced weight, lower tooling costs compared to conventional stamped sheet steel and the ability to have multiple chassis configurations built from the same platform. Founded in 1991, Amerigon designs and manufactures proprietary, high-margin products for the commercial automotive and emerging electric vehicle markets. CONTACT: Amerigon Inc., Monrovia John Hamman, 818/932-2080 or Pondel Parsons Parsons, city (1990 pop. 11,924), Labette co., SE Kans.; inc. 1871. It is a shipping point for dairy products, grain, and livestock. Manufactures include ammunition, wire and paper products, plastics, and appliances. & Wilkinson, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Gary S. Maier, 310/207-9300 |
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