A123 Selected to Power Plug-in Hybrid Electric Trucks for Eaton Corporation
11 Maggio 2010 - 9:01PM
A123 Systems (Nasdaq:AONE), a developer and manufacturer of
advanced Nanophosphate™ lithium ion batteries and systems, today
announced that it has been selected by Eaton Corporation, a
diversified industrial manufacturer (NYSE:ETN), to supply battery
systems for production of a hybrid power system to be installed on
a Ford F550 based Plug-in Hybrid Electric Vehicle (PHEV). The
program is partially funded by a $45 million grant in American
Recovery and Reinvestment Act funds from the Transportation
Electrification Initiative administered by the U.S. Department of
Energy. It is managed by the Electric Power Research Institute
(EPRI) under the lead of the South Coast Air Quality Management
District (SC-AQMD) and is aimed to develop a production ready
plug-in hybrid power train system suitable for widespread utility
use in light/medium duty service vehicles.
These light/medium duty service vehicles, called "trouble
trucks," are used by utilities to inspect, repair and maintain
their transmission and distribution lines. In addition to being
driven thousands of miles per year, these trucks are often left
idling in residential neighborhoods to power the truck's equipment,
thereby exposing operators to diesel exhaust, wasting fuel and
emitting pollution. In contrast, the Eaton-powered PHEV trouble
truck is intended to offer zero-emissions operation depending on
how far the vehicle travels as well as lower operating costs.
"As fleet managers begin to consider emissions costs in addition
to the lifetime costs of trucks, including acquisition costs, fuel
and maintenance, the business case has become even more
compelling," said Jason Forcier, vice president, Automotive
Solutions Group, A123 Systems. "A123 is serving a widening array of
transportation applications and we are looking forward to further
broadening our fleet portfolio and continuing to work with Eaton, a
company committed to producing efficient, reliable and clean hybrid
power systems."
A123 Systems has been developing the battery system for much of
2010 with Eaton. The battery pack is expected to give the PHEV
trouble truck a 10 mile range in EV mode or five to six hours of
engine-off operation at the work-site. Eaton's integrated charging
system also charges the battery in less than 6 hours. The vehicle
is expected to have a fuel savings of up to 63 percent, depending
on drive cycle and the use of its HVAC system.
About A123 Systems
A123 Systems, Inc. (Nasdaq:AONE) develops and manufactures
advanced lithium ion batteries and battery systems for the
transportation, electric grid services and consumer markets.
Headquartered in Massachusetts and founded in 2001, A123 Systems'
proprietary nanoscale electrode technology is built on initial
developments from the Massachusetts Institute of Technology. Among
the companies selecting A123 batteries, battery systems and
technology in the fields of transportation, grid energy storage and
consumer products are AES Energy Storage, LLC, BAE Systems, The
Black & Decker Corporation, BMW, Daimler, Delphi, Fisker
Automotive, and Shanghai Automotive Industry Corporation. For
additional information please visit www.a123systems.com.
The A123 Systems, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6600
About Eaton Corporation
Eaton Corporation is a diversified power management company with
2009 sales of $11.9 billion. Eaton is a global technology leader in
electrical components and systems for power quality, distribution
and control; hydraulics components, systems and services for
industrial and mobile equipment; aerospace fuel, hydraulics and
pneumatic systems for commercial and military use; and truck and
automotive drivetrain and powertrain systems for performance, fuel
economy and safety. Eaton has approximately 70,000 employees and
sells products to customers in more than 150 countries. For more
information, visit www.eaton.com.
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including statements with respect to the PHEV trouble truck and its
anticipated benefits and features. Among the factors that
could cause actual results to differ materially from those
indicated by such forward-looking statements are: delays in
development of the PHEV trouble truck, customer and market demand,
adverse economic conditions in general and adverse economic
conditions specifically affecting the markets in which A123 and
Eaton operate and other risks detailed in A123 Systems' 10-K for
the year ended December 31, 2009 and other publicly available
filings with the Securities and Exchange Commission. All
forward-looking statements reflect A123's expectations only as of
the date of this release and should not be relied upon as
reflecting A123's views, expectations or beliefs at any date
subsequent to the date of this release.
CONTACT: Edelman
A123 Systems PR Contact:
Kerry Farrell
212-704-8113
kerry.farrell@edelman.com
ICR, LLC
A123 Systems IR Contact:
Garo Toomajanian
617-972-3450
ir@a123systems.com
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