Enova Teams with Tomoe of Japan to Build Electric Trains for Singapore; Largest Production Contract in Company History.TORRANCE, Calif. -- Enova Systems, Torrance, Calif. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ENVA ENVA École Nationale Vétérinaire d'Alfort (France) ENVA Essential Non-Value Added ), a developer and manufacturer of electric, hybrid and fuel cell digital power management systems, announced today that it has entered into a contract with Tomoe Electric Manufacturing Company of Japan (Tomoe) for the development and production of eight 36-ton battery electric locomotives for Singapore's Land Transport Authority (LTA LTA Land Transport Authority LTA Land Trust Alliance LTA Lawn Tennis Association LTA Lost Time Accident LTA Lighter-Than-Air LTA Lieutenant (Singapore military) LTA Lipoteichoic Acid LTA Lymphotoxin-Alpha ) under sub-contraction from Hitachi Plant Engineering and Construction Company, Singapore. Enova will utilize components and expertise from Hyundai Heavy Industries of Korea (HHI HHI Herfindahl-Hirschman Index (measure of market concentration) HHI Heinrich Hertz Institut (Germany) HHI Hilton Head Island HHI Household Income HHI Hyundai Heavy Industries Co, Ltd ), the Company's hybrid technology development partner, to meet Tomoe's requirements for the locomotives. The hybrid-electric locomotives will be utilized as service vehicles for the Singapore Mass Rapid Transit Singapore Mass Rapid Transit may refer to:
The act of connecting an electrical element in parallel with (across) another element. The shunting connection is shown in illus. a. and recovery of passenger trains. The first trains are scheduled for delivery in Summer 2006. Under the terms of the contract, Enova will supply to Tomoe a complete hybrid-electric drive system and technical expertise for integration into the locomotives. Enova is the prime contractor for the heavy-duty drive systems, developing and producing the advanced battery charger and battery management systems. Masami Mochizuki, President 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. of Tomoe, stated, "Enova's pure electric and hybrid electric drive systems have been successful in many Tomoe industrial vehicles including our mine crawler Also known as a "Web crawler," "spider," "ant," "robot" (bot) and "intelligent agent," a crawler is a program that searches for information on the Web. Crawlers are widely used by Web search engines to index all the pages on a site by following the links from page to page. . Based on our experience with Enova, Tomoe recommended the Enova/HHI system to Hitachi and the LTA. We are very pleased to be working with such a committed and hard-working partner as Enova on this project." It is anticipated that the hybrid drive A hard disk drive that contains a built-in, non-volatile cache comprised of flash memory. Reads and writes go through the cache first, enabling the platters to remain at rest most of the time. For laptop computers especially, the less the disk rotates, the less power is used. train components will be delivered in late 2005 at Tomoe's Japan-based facilities. Enova anticipates the total contract to exceed $3 million US over the life of the contract, making this the largest production contract for hybrid vehicle components in Enova's history. This latest market penetration in Asia enhances not only Enova's alliances with both Tomoe and HHI, but also advances Enova's hybrid-electric technologies in high voltage power management components. As part of this contract, Enova will develop a high voltage charging system to enable the locomotive to receive a direct battery charge from the high voltage rail. "This battery electric locomotive project is a significant contract for Enova in terms of alliance building, revenue and advancement of our technologies. Enova is once again proving the adaptability of its hybrid drive systems to a wide range of vehicle applications. Enova continues to seek additional industrial and transit applications in which its technologies may be utilized," remarked Carl D. Perry, president and CEO. "Tomoe is one of Enova's premier customers in Asia. Enova is privileged to be chosen by Tomoe and its alliance partners for this very significant alternative energy project for the Singapore Land Transport Authority." Tomoe Electro-Mechanical Engineering, Inc. (www.tomoedenki.co.jp), based in Tokyo, is a provider of commercial and industrial specialized electric vehicles, hybrid-electric vehicles and other factory automation systems. Tomoe products are widely used in Japan and the Far East. Tomoe has annual sales of more than $40 million. This news release contains forward-looking statements relating to Enova Systems and its products. These forward-looking statements are subject to and qualified by certain risks and uncertainties. Such statements do not imply the future success of the Company or its products. These risks and uncertainties and other risks are detailed from time to time in Enova Systems' periodic filings with the Securities and Exchange Commission under the name Enova Systems, Inc., 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, 2003. Enova assumes no duty to update these statements. |
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