Arotech to Demonstrate Ultra-Capacitor / Zinc-Air Hybrid Electric Bus in Albany, NY, November 6, 2003; All Electric Bus Reduces Pollution and Reduces Dependence on Imported Fuel.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 24, 2003 Arotech Corporation (NasdaqNM: ARTX) announced today that its Electric Fuel Battery Corporation subsidiary will demonstrate its all-electric bus in Albany, NY, on November 6, 2003. This demonstration will mark the finalization of Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA of the Zinc-Air All Electric Transit Electric Transit was an entertainment software publisher in the mid-1980s specializing in first-person 3-D simulation games for Apple II and IBM PC computers. The company was formed by four Edu-Ware alumni -- general manager Jeff Ford, marketing director Pamela Pollack, game Bus program with 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. . Invited dignitaries and the general public will have the opportunity to ride the electric bus that recently achieved a record 145 mile range, in tests simulating severe urban traffic. Details of the exact time and venue will be announced later. Powered by the Company's Electric Fuel zinc air fuel cell technology, a pack of advanced ultra capacitors and an improved energy management system, the hybrid all electric bus has zero tailpipe tail·pipe n. The pipe through which exhaust gases from an engine are discharged. Also called exhaust pipe. tailpipe Noun a pipe from which exhaust gases are discharged, esp. emissions. An urban transit fleet based the Electric Fuel bus, will not only improve the quality of the air - it will also help improve National security by reducing the dependence on imported fuel. In a recent test the bus traveled 145 miles under typical city bus driving conditions, including stop and go, acceleration and constant speed. The average normal full day cycle for New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. buses is less than 90 miles. The Company believes that all-electric buses utilizing Electric Fuel's Zinc-Air technology have sufficient range to offer a practical alternative to diesel powered buses. The Electric Fuel All Electric Transit Bus is designed to operate as a full-size, zero emission 40-foot bus having a 20-ton gross vehicle weight (including passengers) and operating all standard bus features, including air conditioning. "We invite everyone concerned both with the environment and with our growing dependence on imported fuel to attend this demonstration drive," said Robert S. Ehrlich, Arotech Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This drive will offer a first hand opportunity to witness our advanced zinc-air technology." About Arotech Corporation Arotech's corporate mission is to provide quality defense and security products for the military, law enforcement and homeland security markets, including advanced zinc-air batteries, multimedia interactive simulators/trainers and lightweight armoring. Arotech Corporation (www.arotech.com) operates two business divisions: Electric Fuel Batteries -- developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense -- consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT MDT abbr. Mountain Daylight Time MDT (in the US and Canada) Mountain Daylight Time MDT n abbr (US) (= mountain daylight time) → Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security, which provides homeland security consulting and other services. Arotech is incorporated in Delaware and has corporate and sales offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Denver with research, development and production subsidiaries in Alabama, Colorado and Israel. Except for the historical information herein, the matters discussed in this news release include forward-looking statements, as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary significantly. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Arotech's products; changing economic conditions; delay, cancellation or non-renewal, in whole or in part, of contracts or of purchase orders; significant future capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. ; and other risk factors detailed in Arotech's most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2002, as amended, and other filings with the Securities and Exchange Commission. Arotech assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release. |
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