Azure Dynamics Delivers First of 30 HEVs to Purolator

November 26, 2004 by Jeff Shepard

Azure Dynamics Corp. (Vancouver, BC), a leading developer of hybrid-electric power trains for commercial vehicles, has delivered a hybrid-electric delivery vehicle to Purolator, Canada's largest overnight courier company. The vehicle is the first product delivered as a result of the supply agreement, signed by the two companies in September 2003 that could see Purolator purchase up to 2,000 hybrid-electric-powered delivery vans.

The five-year supply agreement with Purolator, valued at approximately $90 million, is Azure Dynamic's largest customer contract to date. The order of 30 vehicles will be filled by Azure over the next few months. If the experience with these vehicles meets previously agreed-upon parameters, then as Purolator replenishes its fleet each year, the company is expected to add up to 400 hybrid-electric vehicles annually.