AMP Electric Vehicles and Momentum Dynamics Sign Joint Venture to Deploy Electric Paratransit Vehicles with BARTA
Cincinnati, OH, Jan 03, 2013 (PRWeb.com via COMTEX) --
AMP Electric Vehicles (OTCBB: AMPD) (OTCQB: AMPD), an electric drive systems manufacturer of medium-duty class trucks, and Momentum Dynamics Corporation, a leader in wireless high-power electronics, jointly announced today successful initial testing of an all-electric step van for Berks Area Regional Transportation Authority (BARTA).
This is the first step of a development agreement between AMP and Momentum for the BARTA project. BARTA and its Board of Directors has approved a purchasing agreement ordering two electric vehicles from AMP.
"We are pleased to work with Momentum on the electrification and wireless charging project for BARTA. Both our companies recognize the importance of collaborating to integrate wireless charging technology to be used in a real-world application for BARTAs' transit vehicles," said Marty Rucidlo, President of AMP. "We see wireless charging as an important technology asset for our package delivery fleet vehicle customers as well", Rucidlo added.
Said Andy Daga, CEO of Momentum Dynamics, "We have literally been around the world to find the most capable and dependable vehicle solution for BARTA, and AMP is really unmatched with the technology they have developed for this vehicle class. When proven successful, this pilot program with BARTA will show the pathway to wireless vehicle electrification and will assist operators of fleet vehicles to reduce their operating costs dramatically. They will be able to transition cost effectively to a zero-emission vehicle solution."
As AMP is converting existing fleet BARTA vehicles, the project allows BARTA the efficiencies of recycling older vehicles. This AMP conversion business model provides a great deal of flexibility to fleets, and the AMP electric fleet conversion process has been well-received by private, municipal, state and federal vehicle managers alike.
BARTA is the first major transportation authority in Pennsylvania to deploy fully electric vehicles, and the first in the US to deploy electric paratransit vehicles.
"BARTA is pleased to be cooperating with Momentum Dynamics and AMP to be part of the alternative energy solution for our Nation, said Dennis D. Louwerse, Executive Director/CEO of BARTA. "This project is about environmental stewardship, which is an important part of BARTA's Strategic Plan."
The BARTA project is being funded by Momentum Dynamics, the Commonwealth of Pennsylvania - Department of Environmental Protection, and the Pennsylvania Department of Transportation.
About AMP Holding Inc.:
AMP is a plug-in electric drive motor vehicle manufacturer, founded in 2007 by entrepreneurs who have created several hi-tech companies. The AMP team is comprised of top automotive industry veterans and business executives. AMP is focused on the electrification of fleet vehicles, including medium-duty class 3-6 trucks and vans. Over the past several years, the company's vehicle electrification technology has provided new solutions to America's energy demands. For additional information visit http://www.ampelectricvehicles.com
About Momentum Dynamics Corporation:
Momentum Dynamics is an advanced electronics company committed to innovating the technology and the business structures for wireless charging for the transportation industry. The company was formed in 2009 and has specialized in high-power wireless charging using resonant magnetic induction to transfer tens of thousands of watts of power without a direct conductive connection. The Momentum Dynamics team is composed of experienced business executives and former US defense and space technology engineers. http://www.momentumdynamics.com
About Berks Area Regional Transportation Authority (BARTA):
BARTA is a public transportation system that operates in Berks County, PA. BARTA has previously implemented other alternative-fuel-vehicles in the areas of compressed natural gas and diesel Hybrid-electric. For additional information visit http://www.bartabus.com
Certain statements contained in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
SOURCE: AMP Holding Inc.
For Additional Information,
Gary Sheldt, 513-360-4704, gary.sheldt(at)ampelectricvehicles(dot)com
Ali Cleveland, 610-322-1964, ali.cleveland(at)momentumdynamics(dot)com
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