READING, Pa., April 21, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- EnerSys (NYSE: ENS), the
world's largest industrial battery company, through its Modular Energy Devices
(ModEnergy) subsidiary, has teamed with Quebec's Laval University and Canada's
largest cooperative financial group, Desjardins, to conduct a trial program in
Quebec City to study community acceptance and operating success of Plug-in
Hybrid Electric Vehicles (PHEVs). Starting in the Spring of 2008, the
multidisciplinary team will spearhead a technical, financial and market based
effort to bring the environmental and economic advantages of PHEVs to
mainstream markets. If the pilot study is a success, the project will
integrate between 10 and 50 PHEVs into Quebec City streets, giving the
partners strategic, real-world knowledge about the viability and potential of
the market. The PHEVs will be owned and operated by individuals in the
community during the expected four year test period. ModEnergy will supply
lithium ion (Li-Ion) battery packs and controls to Laval University and work
with them to optimize performance and durability for evaluation by members of
the team and the Quebec City community. Desjardins and Laval University's
business school are working together to design innovative financial contracts,
which, for example, could encourage the commercialization of this type of
environment-friendly technology and its accessibility to consumers.
John Craig, chairman, president and CEO of EnerSys, said "We believe that
we have a unique and cost effective approach to meet the PHEV's energy storage
requirements. We are excited about participating in this program and are
optimistic that it will demonstrate the viability of PHEVs. Based upon the
results of the program, EnerSys will be prepared to marshal its global
capabilities to strive for further advances to allow for the practical
implementation of PHEVs to realize their economic and environmental benefits."
"This program will provide a real world field test for the ModEnergy's
Redundant Cell Array Technology (RedCAT) while integrating PHEVs in the
community," said Steve Eaves, VP of Technology and founder of ModEnergy.
"RedCAT offers unique cost, reliability and safety advantages to help bring
the promise of Li-Ion batteries and PHEVs to our transportation needs and thus
take a step towards meeting clean air goals."
Caution Concerning Forward-Looking Statements
This press release (and oral statements made regarding the subjects of
this release) contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements may include, but are not limited to, (i) statements regarding
EnerSys' plans, objectives, expectations and intentions and other statements
contained in this press release that are not historical facts, including
statements identified by words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates," "will" or words of similar meaning;
and (ii) statements about the benefits of the program including any impact on
our financial and operating results and estimates, and any impact on EnerSys'
market position that may be realized from this program. These forward-looking
statements are based upon management's current beliefs or expectations and are
inherently subject to significant business, economic, and competitive
uncertainties and contingencies, many of which are beyond our control. The
foregoing factors, among others, could cause actual results to differ
materially from those described in the forward-looking statements. EnerSys
may not realize benefits from this program. EnerSys does not undertake any
obligation to update any forward-looking statement to reflect circumstances or
events that occur after the date such forward-looking statement is made. For
a list of other factors, which could affect EnerSys' results, see EnerSys'
filings with the Securities and Exchange Commission, including "Item 1A. Risk
Factors," set forth in our EnerSys' Annual Report on Form 10-K for the fiscal
year ended March 31, 2007.
For more information, contact Richard Zuidema, executive vice president,
EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 800-538-3627;
Website: http://www.enersys.com.
About EnerSys
EnerSys, the world leader in stored energy solutions for industrial
applications, manufactures and distributes reserve power and motive power
batteries, chargers, power equipment, and battery accessories to customers
worldwide. Motive power batteries are utilized in electric forklift trucks
and other commercial electric powered vehicles. Reserve power batteries are
used in the telecommunication and utility industries, uninterruptible power
suppliers, and numerous applications requiring standby power. The company
also provides aftermarket and customer support services to its customers from
over 100 countries through its sales and manufacturing locations around the
world.
More information regarding EnerSys can be found at http://www.enersys.com.
SOURCE EnerSys
