TORRANCE, Calif., Sept. 21, 2012 (GLOBE NEWSWIRE) — Vision Industries Corp. (VIIC) announces that the Company and Balqon Corporation have entered into a Joint Development Agreement to build its zero-emission hydrogen fuel cell /electric hybrid terminal tractor, the Zero-TT. The intended markets for the Zero-TT are distribution centers, rail yards and marine terminals.
“We are very familiar with Balqon’s technology and are excited to implement their drivetrain into our Zero-TT tractors,” says Martin Schuermann, CEO of Vision Industries Corp.
This agreement combines the Cargotec USA Kalmar chassis with Balqon’s proven drivetrain and Vision’s hydrogen fuel cell range-extender.
“We believe consolidating our efforts to address zero emission cargo transportation which combines our drive system and lithium battery technology with Vision’s fuel cell technology will add to zero emission offerings available to customers seeking to reduce diesel emissions,” says Balwinder Samra, CEO of Balqon Corporation.
About Vision Industries Corporation
Vision is a developer of zero emission hydrogen fuel cell/electric hybrid powered vehicles and turnkey hydrogen fueling systems. Vision’s proprietary hybrid drive system combines the superior acceleration of a battery powered electric vehicle with the extended range provided by a hydrogen fuel cell. For more information on Vision Industries Corp., please visit www.visionindustriescorp.com.
About Balqon Corporation
Headquartered in Harbor City, California, Balqon Corporation is a leading developer of zero-emissions electric drive systems, lithium battery storage systems and medium to heavy-duty electric vehicles. Balqon’s proprietary electric drive system encompasses complete power management, propulsion, flux vector motor controllers and energy systems. Balqon electric vehicles and drive systems are marketed globally to companies, governments and municipalities looking for viable and effective ways to reduce their vehicle maintenance and operating costs and lower carbon emissions. Balqon is recognized as a pioneer in commercial electric vehicle technology and development of energy efficient transportation solutions. For more information, please visit www.balqon.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.
Vision Contact Person:
Jerome Torresyap, President
(P) 310-454-5658 x 205