Motive Industries Inc.

Motive Industries Inc.

June 30, 2008 09:00 ET

Motive Industries Inc. Is Looking for a Title Sponsor for Its Progressive Insurance Automotive X PRIZE Entry, the Motive Switch

CALGARY, ALBERTA--(Marketwire - June 30, 2008) -

Editors Note: A photo for this release is available on the Marketwire website: http://www.marketwire.com/library/20080627-800motive.jpg

Motive Industries Inc., operating out of Calgary Alberta Canada has announced today that it is looking for a title sponsor for its Progressive Insurance Automotive X PRIZE entry, the Motive Switch. The Switch is a sporty 2 by 2 battery exchange hybrid electric vehicle. The company has just completed the design engineering phase and is looking for a sponsor to fund the build and stage races.

Motive Industries has received a lot of recognition having being named one of the top ten X PRIZE teams to watch in a recent Popular Mechanics article. The company has received a number of calls from television shows wishing to film aspects of the build, and has recently completed preliminary filming for a two hour special which will focus on the car and Motive's participation in the X PRIZE competition.

The company has received many offers of donated or discounted products, as well as requests from extremely talented engineers and power train experts to participate in the build process. However, Motive is still in need of a title sponsor to fund the further phases. The title sponsor will receive media recognition through various avenues including key logo placement, recognition and when possible participation in any print, online or television media directed towards the Switch and Motive's X PRIZE participation. The company is also interested in discussing further collaboration beyond sponsorship with
interested parties.

About Motive Industries

Motive Industries is a design engineering firm specialising in transportation projects. Bringing together 14 plus years automotive design experience, Motive seeks to be a key link in the drive for innovation and sustainability in the automotive sector. Motive offers design, engineering, component prototyping and production services to the transportation industry. For more information visit www.motiveind.com.

About the Progressive Insurance Automotive X PRIZE Competition

The goal of the Progressive Automotive X PRIZE is to inspire a new generation of viable, super-efficient vehicles to offer consumers more choices, help break our addiction to oil and stem the effects of climate change. $10 million in prizes will be awarded to the teams that win a cross country stage race for clean, production-capable and super fuel efficient vehicles that exceed 100 MPG equivalent fuel economy. (MPGe) For more information visit www.progressiveautoxprize.org.

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