• 12.01.2012, 13:33:18
  • /
  • OTE0007

Azure Dynamics Delivers its 1000th Balance(TM) Hybrid Electric Truck to Purolator, its Largest Customer

Oak Park, Michigan (ots/PRNewswire) -

- Purolator currently operates 555 units, making it the 
world's largest
          fleet of Azure's Balance(TM) Hybrid Electric vehicles
        - This 1000th unit also represents Purolator's 200th unit 
received in 2011, as
          part of its previous 600 unit order to be delivered over a 
three-year period
        - Azure Dynamics Corporation is the world's #1 provider of 
hybrid electric
          powertrain solutions in the medium-duty commercial hybrid 
truck (Class 2c-5) market
          with approximately 50% share

Azure Dynamics Corporation ("Azure" or the "Company"), a world
leader in the development and production of hybrid electric and
electric components and powertrain systems for light and medium duty
commercial vehicles, today announced that it has delivered its 1000th
Balance[TM] Hybrid Electric Truck to Purolator, Azure's largest
customer. This unit also represents Purolator's 200th Hybrid Electric
truck received in 2011, which is part of its previous record 600 unit
order providing for 200 units being delivered in 2011 with an
additional 200 units scheduled in both 2012 and 2013, subject to
annual authorizations by Purolator.

"This is a significant milestone in Azure's history and is fitting
that Purolator be the recipient of this 1000th vehicle," said Scott
Harrison, Chief Executive Officer of Azure. "Purolator continues to
be our largest volume customer and consistently demonstrates a strong
commitment to the environment by adding cleaner, greener Balance[TM]
Hybrid Electric vehicles to its fleet."

"Purolator is proud to receive Azure Dynamics' 1000th Balance[TM]
Hybrid Electric Truck - a noteworthy achievement we gladly celebrate
with the Azure team as we add to North America's largest
hybrid-electric pick-up and delivery fleet," said Tom Schmitt,
Purolator's President and CEO. "As we receive our 555th Balance[TM]
Hybrid Electric Truck, I am proud to point out that working alongside
Azure Dynamics has helped Purolator to consistently deliver industry
leading on-time service and reliability to our customers in a
sustainable manner."

Purolator operates a fleet of 3,500 vehicles and, as the recent
recipient of the Logistics Quarterly Third-Party Logistics
Sustainability Award, delivers Canada to and from more markets in the
U.S. - growing globally in a sustainable manner while contributing to
the well-being of the communities in which its over 11,500 teammates
live, work and play. In 2005, Purolator was the first express
transportation company in Canada to introduce hybrid electric
vehicles.

The Azure Balance[TM] Hybrid Electric vehicles ordered by
Purolator are integrated on a Ford E450 chassis with a Ford 5.4L
gasoline engine. The hybrid electric drive train which features
unique attributes such as engine-off at idle and below 20 miles per
hour, while electronically supporting key ancillary functions like
power steering and braking, is ideally suited for commercial activity
in urban environments.

For more information on how Azure Dynamics powertrains are
'Driving a World of Difference:' please visit
http://www.azuredynamics.com

About Azure Dynamics

Azure Dynamics Corporation is a world leader in the development
and production of hybrid electric and electric components and
powertrain systems for light and medium duty commercial vehicles.
Azure is strategically targeting the commercial delivery vehicle and
shuttle bus markets and is currently working internationally with a
variety of partners and customers. The Company is committed to
providing customers and partners with innovative, cost-efficient, and
environmentally-friendly energy management solutions. For more
information please visit http://www.azuredynamics.com.

The TSX Exchange does not accept responsibility for the adequacy
or accuracy of this release.

About Purolator

Purolator is Canada's leading integrated freight and parcel
solutions provider. Celebrating 50 years of delivering Canada, the
company continues to expand its reach to more people, more businesses
and more places across the country and around the world. Purolator is
proud of its Canadian heritage and is positioning itself for future
growth and success. As the recent recipient of the Logistics
Quarterly Third-Party Logistics Sustainability Award, Purolator is
growing globally in a sustainable manner while contributing to the
well-being of the communities where its over 11,500 teammates live,
work and play.

Forward-Looking Statements Advisory

Certain information included in this press release constitutes
forward-looking statements and information and future-oriented
financial information under applicable securities legislation and is
provided for the purpose of expressing management's current
expectations and plans for the future. Readers are cautioned that
reliance on such information may not be appropriate for other
purposes, such as making investment decisions.

More particularly, this press release contains statements
concerning Azure's anticipated: business development strategy,
customer orders, product deliveries, sales, revenue and revenue
growth. The forward-looking statements are based on a number of key
expectations and assumptions made by Azure, including expectations
and assumptions concerning achievement of current timetables for
development programs and sales, target market acceptance of Azure's
products, current and new product performance, availability and cost
of labor and expertise, and evolving markets for power for
transportation vehicles. Although Azure believes that the
expectations and assumptions used to develop the forward-looking
statements are reasonable, undue reliance should not be placed on the
forward-looking statements because Azure can give no assurance that
they will prove to be correct.

Since forward-looking statements address future events and
conditions, by their very nature they involve numerous risks and
uncertainties that contribute to the possibility that the projections
and forecasts in the forward-looking statements will not occur and
that actual performance or results could differ materially from those
anticipated in the forward-looking statements. These risks and
uncertainties include, but are not limited to, the risks associated
with Azure's stage of development, history of losses and lack of
historical product revenues, uncertainty as to product development
and sales milestones being met, product defect and performance risks,
competition for capital and market share, uncertainty as to target
markets, dependence upon third parties, changes in environmental laws
or policies, uncertainty as to patent and proprietary rights,
availability and retention of management and key personnel, exchange
rate and currency fluctuations, uncertainties relating to potential
delays or changes in plans with respect to product development or
capital expenditures, the ability of Azure to access sufficient
capital on acceptable terms, and environmental and safety risks. This
is not an exhaustive list and additional information on these risks
and other factors that could affect Azure's operations and financial
results are included in reports on file with the Canadian securities
regulatory authorities and can be accessed through the SEDAR website
at http://www.sedar.com.

The forward-looking statements contained in this press release are
made as of the date hereof and Azure undertakes no obligation to
update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.
Additionally, Azure undertakes no obligation to comment on the
expectations of, or statements made by, third parties about Azure.

For further information: Juris Pagrabs, Vice President, Investor
Relations, +1-248-298-2403 ext 7570, Email:
[email protected]

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT | PRN

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