October 10, 2006

Vancouver company to supply Ford with hybrid/electric powertrain

Toronto, Ontario – Vancouver-based Azure Dynamics Corporation, a developer of hybrid/electric and electric powertrains for commercial and military vehicles, has signed an agreement with Ford Motor Company. Under the agreement, Azure will develop a hybrid/electric powertrain for Ford’s E-Series commercial platform.

Azure will develop the parallel hybrid electric gasoline system, and will act as the vehicle modifier, completing the hybrid modification on the E-350 and E-450 commercial chassis.

“We are very pleased to conclude this agreement, which puts an Azure powertrain in an extremely popular commercial vehicle chassis and will have application in both the truck and bus markets,” says D. Campbell Deacon, Deputy Chairman and CEO of Azure Dynamics. “The agreement includes an intention for Azure to enter into a Ford Ship-Thru agreement which would allow the modified vehicles to be offered through the Ford distribution network. Ford has stated its desire to become a world leader in hybrid vehicle technology. We are excited to work on this product.”

Azure currently works internationally with such companies as Purolator Courier, Canada Post, United States Postal Service, and AM General LLC.

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