Business
AGM Statement
AGM Statement.
About this update from T42 Iot Tracking Solutions Plc
[{"type":"text","content":"\n Traction Technology PLC\n17 January 2008\n\n TRACTION TECHNOLOGY PLC\n ('Traction' or 'the Company')\n\n Annual General Meeting Statement\n\nNick Brayshaw, Chairman of Traction Technology PLC, will say at today's AGM:\n\n'In the past year, the Company has continued to focus on the design, development\nand delivery of its environmentally friendly, low emission Series Diesel\nElectric Hybrid engine system, aimed initially at the public transport sector.\n\n'In July the company launched its TRIBRID power-pack at the Cenex Low Carbon\nVehicles Exhibition held in Leeds generating industry wide recognition as the\nfirst commercially available 'supercap' powered bus in the UK. The vehicle has\nthe ability to draw on three separate power sources - the diesel engine,\nbatteries or super-capacitors. The bus being run by Arriva Southern Counties \n('Arriva SC') has been updated to the TRIBRID configuration.\n\n'Experience continues to be gained on active routes with Transport for London\noperator Epsom Coaches, with Arriva North West, operating on Merseytravel's\nCATCH Project, with Arriva SC in West Sussex and with Ipswich Buses Limited.\n\n'To date these four vehicles have completed over 70,000 miles, gaining real time\nexperience and operational data on their performance with Traction's hybrid\nengine system.\n\n'The company has increased its technical capability during the year and is\ndesigning the next generation of hybrid engine control system. The system will\nbe flexible and scalable to larger and smaller vehicles. It will provide more\neffective energy management and further increase reliability.\n\n'In November a Memorandum of Understanding was signed with The Optare Group to\njointly develop a range of single deck hybrid vehicles for the UK Market. A\nprototype vehicle is expected to run in service by mid 2008, with customer\nvehicles available for delivery later in the year.\n\n'The growing recognition of the environmental benefits that come from hybrid\nvehicles - particularly for the stop-start urban cycle - coupled with increasing\npolitical and regulatory pressures, leaves the Company well positioned for\nfuture success.\n\n'We believe that we are now the most technologically advanced developer of\nseries hybrids in the UK and look forward to maintaining the Company's \nposition.'\n\nContacts:\n\nTraction Technology plc...