Azure Dynamics Announces MOU For Utility & Telecom Market LEEP SystemsMarch 26, 2008 by Jeff Shepard
Azure Dynamics Corp. a developer of hybrid electric and electric powertrains for commercial vehicles, announced that it has signed a Memorandum of Understanding (MOU) with a leading manufacturer of aerial boom trucks for the electric utility, telecommunications and contractor markets. The MOU includes the branding, marketing and sale of Azure’s Low Emission Electric Power ("LEEP") systems within the electric utility and telecom markets.
"Our agreement is an important step in moving Azure’s LEEP system into yet another major market," said Scott Harrison, Azure’s Chief Executive Officer. "Azure is proud to align itself with another industry-leader and we look forward to working with them in marketing and selling the LEEP system throughout their extensive customer base."
Under the proposed terms of the MOU, Azure will supply LEEP systems that are specifically adapted to the boom truck applications. The systems will be integrated into its trucks and the manufacturer has agreed to brand and market the product throughout its North American truck body market segment.
Azure states that its LEEP system delivers significant reductions in fuel utilization and emission levels. Its hybrid technology stores energy when a vehicle’s engine is running. When the engine is off, the stored energy is used to power the hydraulic boom and other auxiliary power requirements. The LEEP system is also a natural anti-idle system. It is claimed that stationary engine run-time can be reduced by approximately 90% compared to conventional systems.