OAK PARK — The hybrid and electric truck powertrain developer Azure Dynamics Corp. (OTC: AZDDF) and Norway-based RøhneSelmer AS announced that they signed a Letter of Intent under which RøhneSelmer will import and distribute up to 400 Ford Transit Connect Electric vans a year.

The letter is not a purchase order, but sets in motion a collaborative effort to reach a definitive distribution agreement within the coming weeks to further develop the business in the Nordic Region. RøhneSelmer will focus its importation, distribution, sales and service effort in Norway.

In March, RøhneSelmer supported Azure’s inaugural European Transit Connect Electric sale of 58 vans, including 20 vans to Post Norway (Posten Norge AS) via its five locations in and around Norway and in August, 2011, placed an order for 100 additional vans.

“The Transit Connect Electric European market continues to develop quickly,” said Scott Harrison, CEO of Azure Dynamics. “This arrangement with RøhneSelmer will offer Azure and its Transit Connect Electric a sophisticated distribution platform to further develop the significant opportunities we see in the Nordic Region.  This agreement exemplifies how we are leveraging our valued partners like RøhneSelmer and, as a result, we believe our mutual customers will be well served in the most expedient manner possible.”

RøhneSelmer reports that the Transit Connect Electric is proving itself to be the right electric van for today’s Norwegian market and that consumer interest is strong and growing.

“Norway has a great appreciation for electric vehicles to help achieve our aggressive environmental goals,” said Christian August Selmer, RøhneSelmer’s owner. “Our experience shows that the Transit Connect Electric has the right performance and cargo characteristics to meet the needs of a large customer base in Norway.”

Pursuant to the LOI, RøhneSelmer will submit purchase orders each calendar quarter with a target of up to 400 vans annually.

The Transit Connect Electric offers Norwegian customers the opportunity to eliminate petroleum fuel bills, take advantage of car-pool lanes and to lower overall maintenance and operating costs. The vehicle is an ideal choice for battery electric power thanks to its unique combination of car-like driving dynamics, generous cargo capacity, easy accessibility and low operating costs.  Transit Connect Electric can be recharged in approximately eight hours using standard European 220-volt outlets.

To create the Transit Connect Electric, Azure integrates its proven Force Drive electric powertrain into the award-winning Ford Transit Connect. Using an advanced lithium-ion battery from Johnson Controls, Transit Connect Electric can achieve a range of 50 to 80 miles on a single charge and has a load capacity of 1,200 pounds. With 28 kWh of power to call on, Transit Connect Electric has a top speed of 75 mph. The product has been brought to market at a time when increasing numbers of fleet operators are demanding the benefits of efficient, clean alternative powered vehicles.

The Transit Connect Electric went into production in Europe in June, 2011 following its successful production launch in North America in April, 2011. Since the Transit Connect Electric was introduced in North America in December 2010, global Transit Connect Electric sales have exceeded $29 million.

More at www.azuredynamics.com.


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