Turbo Genset Inc.

Turbo Genset Inc.

May 12, 2005 02:00 ET

Turbo Genset Inc.: Understanding with Lotus Engineering

CALGARY, ALBERTA--(CCNMatthews - May 12, 2005) - Turbo Genset (TSX:TGN) (LSE:TGN) is pleased to announce today that it has signed a Memorandum of Understanding with Lotus Engineering for the design and supply of a prototype passenger vehicle hybrid electrical drive system. The system will be an integral part of the hybrid electrical vehicle programme of a major motor vehicle manufacturer.

Hybrid electric vehicles (HEVs) are powered by a combination of electric motors (and associated power electronic drives) and diesel or gasoline engines. HEVs expand the range of electric cars by offering an option to use the thermal engine at higher speeds. Use of the thermal engine facilitates charging of the batteries.

The initial development project phase will take approximately 12-18 months and involves the design and supply of the motor and motor drive system to be incorporated into two prototype vehicles.

This agreement underlines the progress of the TGC high-speed electrical machines and drives business, and strengthens our position in this exciting area of technology.


About Turbo Genset

Turbo Genset develops innovative products for power generation and power conditioning. The Group was established in 1993 as a spin-off from Imperial College, London and was floated on the London stock exchange in July 2000 and soon after obtained a secondary listing in Toronto.

In July 2001, the Group acquired Intelligent Power Systems Limited (I-Power) specialising in power electronics.

Forward Looking statements

This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance, and underlying assumptions and other statements that are other than statement of historical fact. These statements are subject to uncertainties and risks including, but not limited to, the ability to meet ongoing capital needs, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition, the need to protect proprietary rights to technology, government regulation, and other risks defined in this document and in statements filed from time to time with the applicable securities regulatory authorities.

Contact Information

  • Gavin Anderson & Company (PR)
    Ken Cronin
    +44 (0)20 7554 1400
    Turbo Genset Inc
    Michael Hunt
    Chief Executive Officer
    +44 (0)20 8564 4460
    Turbo Genset Inc Canada
    Richard Kapuscinski
    Business Development
    +1 (905) 690 1722
    Website: http://www.turbogenset.com