Azure Dynamics Corp. is a young company that is starting to gain recognition on Wall Street. Located in Oak Park, Michigan, Azure Dynamics has evolved into a world leader in the development and production of hybrid and electric components and powertrain systems for commercial vehicles. Today, Azure took a major step towards enhancing their future with the sale of 24 Balance Hybrid Electric buses.
Azure sold these electric buses to King County Washington for its Access Transportation services. King County was able to award this contract with the support of Federal Transit Administration (FTA) stimulus funds aimed at providing fuel efficient and environmentally friendly transportation solutions.
This announcement is just another sign that the auto industry and investors are turning towards a “greener” society and displays a major change in the times – both environmentally and economically. For example, the Balance Hybrid Electric product has a demonstrable economic payback independent of outside incentives. Since commercial vehicle fleets spend approximately 50% of their total operational costs in fuel, the Balance(TM) Hybrid Electric’s ability to improve economy by up to 40% provides an enormous impact.
Additional benefits of the Balance Hybrid Electric Product include the reduction of maintenance cost by up to 30% while typically improving vehicle “up-time” and therefore providing added opportunity to produce revenue for the end-user and a 30% reduction in emissions which will provide added protection in air quality for everyone in the area.
One of the leaders at Azure is Jay Sandler who serves as the Vice President of Sales at the growing company. When asked what this sale will mean to the future of Azure and the potential effects on the environment, Sandler was quoted as saying, “As environmental awareness grows and vehicle operating costs continue to escalate, we’re seeing strongly increased demand for our products from local governments and municipalities all across the country. Our Balance Hybrid Electric product specifically addresses those issues so we expect demand to continue to grow.”
Currently, Azure is trading in the $0.32 range. With this major sale of Hybrid Electric buses and many other positive “green” initiatives in their pipeline, Azure Dynamics is a company investors are going to keep a watchful eye on.
To learn more about this unique company, visit their website at: www.azuredynamics.com.
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