ENOVA Acknowledged as One of Los Angeles' Fastest 50 Growing Companies!TORRANCE, Calif. -- Enova Systems, (AMEX AMEX See: American Stock Exchange :ENA ENA Ecole Nationale d'Administration (French) ENA Emergency Nurses Association ENA Energy Networks Association (Australia) ENA Ethiopian News Agency ENA Energetic Neutral Atom ) (AIM:ENV ENV Environment ENV Envelope ENV Environmental Science ENV Emissions Neutral Vehicle ENV École Nationale Vétérinaire (French) ENV Estimated Net Value ENV European Norm Voluntary ) (AIM:ENVS), an early stage production company in an emerging industry and a leading developer of proprietary electric, hybrid and fuel cell digital power management systems, is pleased to announce that it has been chosen as one of 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. Technology Fast 50. The "Los Angeles Technology Fast 50," an annual award program, ranks technology, media, telecommunications and life sciences companies located in the Los Angeles area by revenue growth over five years. Enova's 61% growth placed them as Los Angeles' 39th fastest growing companies as recognized by Deloitte & Touche USA LLP LLP - Lower Layer Protocol . "Deloitte & Touche congratulates the companies named to this year's Los Angeles Technology Fast 50 list," said Anthony J. Buzzelli, Vice Chairman and National Managing Partner, US Regions, Deloitte & Touche LLP. "These successful businesses are indicative of the ongoing growth within the Los Angeles-area community and beyond. We are pleased to honor our Technology Fast 50 winners and our Rising Star Company, which collectively contribute billions of dollars each year to the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, region." In addition to the Deloitte Fast 50 award, Enova has been acknowledged as one of the Top Public Companies as featured in the Los Angeles business Journal 2006. The award was recently presented to Enova systems Chief Executive Officer Edwin Riddell. Edwin Riddell, Enova's 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. , said, "Enova is please to be recognized as one of the city's fastest growing companies. Our workforce is proud of this accomplishment and we expect our technology and strong workforce to allow us further growth into the coming years." Winners were selected based on percentage revenue growth over five years from 2001 to 2005. To be considered, Technology Fast 50 entrants must: have operating revenues of at least $50,000 in 2001 and at least $5,000,000 in 2005; be headquartered in Los Angeles, Riverside, Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , San Bernardino San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. or Ventura counties; own proprietary technology or proprietary intellectual property that contributes to a significant portion of its operating revenues, or devote a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded. About Enova Systems, Inc. Enova Systems 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 and stationary applications. Enova applies unique 'enabling technologies' in the areas of alternative energy propulsion systems for light and heavy-duty vehicles as well as power conditioning and management systems for distributed generation systems. The Company develops, designs and produces drive systems and related components for electric, hybrid-electric, and fuel cell powered vehicles. For further information, contact Enova Systems directly, or visit its Web site at http://www.enovasystems.com. This news release contains forward-looking statements relating to Enova Systems and its products that are intended to be covered by the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements provided by 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. 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 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 year ended December 31, 2005. This forward-looking information should be considered only in connection with the aforementioned risk factors. Enova assumes no obligation to update such forward-looking statements. |
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