EVPS management team has many years of experience in developing new automotive products and working with fleets.
Charlotte, NC (Vocus) March 28, 2010
EV Power Systems, Inc. (EVPS) and Energy Dimensions, LLC announced a partnership today to market EVPS’ plug-in, hybrid-electric (PHEV) retrofit drive system for electric utility, light-duty trucks. The new PHEV systems increases miles per gallon (mpg) by 30 percent with a return on investment (ROI) of approximately 30 percent at current fuel prices in start/stop applications. High mpg gains and high ROI are achieved by converting existing trucks with an economic and effective plug-in, hybrid-electric drive system. The patented EVPS system does not require any changes to the truck’s existing internal-combustion engine, transmission, vehicle support systems, electrical system or emission equipment. Most of the hybrid components are off-the-shelf and readily available. The hybrid system can be transferred to another truck and upgraded with new batteries, motors, chargers or controllers. The retrofit is achieved in a day or less. Many conversions can be completed using in-house staff.
Some twenty of the Nation’s leading electric utilities and the Edison Electric Institute pledged in October 2009 to “ramp up efforts to make electricity a crucial transportation fuel.” While much of the utilities’ efforts have focused on new vehicle purchases, EV Power Systems' solution for existing truck fleets accelerates their transition to a full-scale PHEV fleet. In addition to reducing emissions, the flexibility of the EVPS design allows utilities to quickly and efficiently test various smart grid technologies for impact on utility operations and customer interfaces. To help utilities, Energy Dimensions and EVPS are forming a technical advisory council aimed at testing, evaluating and sharing information about smart grid technologies and PHEVs.
EV Power Systems’ President Terry Russell commented “EVPS management team has many years of experience in developing new automotive products and working with fleets.” Russell continued, “By working directly with electric utilities, we believe EVPS can enhance the existing technology and more rapidly introduce cost-effective electrification for a wider range of trucks.” EVPS designs, sells and services hybrid and all-electric vehicle power systems.
"We are excited to be part of a first step toward decarbonizing transportation and helping utilities with that transition," stated Daniel Jaouiche, President and Founder of Energy Dimensions. Energy Dimensions is a boutique strategic advisory firm specializing in strategies and business scenarios for energy, natural resource and energy or carbon intensive manufacturing companies. Mr. Jaouiche has over 15 years experience in global strategy and business development in the energy industry including: oil and gas, power generation, utilities, gas transmission and natural resources.
This Press Release contains or incorporates by reference "forward looking statements" including certain information with respect to plans and strategies of EV Power Systems, Inc. and Energy Dimensions, LLC. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward looking statements. Without limiting the foregoing, the words "believes," "suggests," "anticipates," "plans," "expects," and similar expressions are intended to identify forward looking statements. There are a number of events or actual results of EV Power Systems Inc. and Energy Dimensions, LLC operations that could differ materially from those indicated by such forward looking statements