AeroVironment Inc (AVAV)

[Alibi]

MONROVIA, Calif.--(BUSINESS WIRE)-- AeroVironment, Inc. (AV) (NASDAQ:AVAV) today announced that Balqon Corporation (OTC:BLQN), a developer of heavy duty electric trucks, tractors and electric drive systems, has purchased a new high voltage version of AV's PosiCharge(TM) fast charge systems as part of a program to replace internal combustion yard tractors with electric propulsion vehicles at the Port of Los Angeles.
Yard tractors, or "hostlers", are used by the Port of L.A. and other ports around the world to move containers from docks to on-site storage yards where the containers await transportation to their ultimate destinations. The high-volume flow of containers through ports often requires that hostlers operate with only limited breaks. PosiCharge(TM) fast charge systems support electric material handling vehicles used in high velocity factories, distribution centers and airports to support mission-critical operations. The PosiCharge(TM) fast charge system developed for heavy-duty electric yard tractors can charge up to four heavy-duty Balqon electric trucks at a time and provide enough energy during short periods of time to enable the productive flow of containers through the port while eliminating emissions.
"Studies show that sea ports are significant contributors of emissions and carbon into the atmosphere," said Mike Bissonette, senior vice president and general manager, AV Efficient Energy Systems. "The Port of L.A. is at the forefront of a movement to reduce these emissions. Our fast charge systems are used around the world and can help ports, like L.A., clean the air and reduce operating costs. It's a winning combination for all."
The fast charge system operating at the Port of L.A. is based on AeroVironment's PosiCharge(TM) industrial fast charge systems, which power thousands of electric material handling vehicles in airports, factories, and distribution centers throughout North America. AV's PosiCharge fast charge systems serve eight of the top automotive manufacturers, seven of food and beverage's largest companies, nine of 10 leading airlines, and 15 of Fortune and Global 500's top 100 companies.
About PosiCharge(TM)
PosiCharge(TM) fast charge systems allow industrial and heavy-duty electric vehicle operators to eliminate battery swapping, thereby recovering run time, enhancing productivity, optimizing assets, and improving worker safety. PosiCharge(TM) systems fast charge battery packs in the vehicle during scheduled breaks, so the battery pack never leaves the vehicle. The result is instant productivity improvement, a cleaner and safer work environment, and a streamlined workflow that no longer stops for battery changing. With proprietary technology that safeguards batteries by customizing each charge, PosiCharge(TM) systems can actually extend a battery's useful life compared to traditional charging solutions, further optimizing operations. PosiCharge(TM) has been supporting high-velocity Fortune and Global 500 facilities for more than six years. For more information about PosiCharge(TM), please visit www.posicharge.com.
About AeroVironment, Inc. (AV)
Building on a history of technological innovation, AV designs, develops, produces, and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and efficient electric energy systems. Agencies of the U.S. Department of Defense and allied military services use the company's hand-launched UAS to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance, and target acquisition. Commercial and governmental entities use AV's clean transportation solutions such as electric vehicle test systems and electric vehicle fast charge systems, as well as its clean energy solutions such as Architectural Wind(TM). More information about AV is available at www.avinc.com.
About Balqon
Balqon Corporation is a leading developer of heavy duty electric trucks, tractors and electric drive systems. The Company uses its proprietary flux vector control technology to design propulsion systems for 10 to 50 ton capacity vehicles and material handling equipment. Balqon Corporation's current product line of tow tractors are designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities. For information about Balqon Corporation and its product offerings, visit www.balqon.com.

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Source: AeroVironment, Inc.
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