Traction Technology PLC
17 January 2008
TRACTION TECHNOLOGY PLC
('Traction' or 'the Company')
Annual General Meeting Statement
Nick Brayshaw, Chairman of Traction Technology PLC, will say at today's AGM:
'In the past year, the Company has continued to focus on the design, development
and delivery of its environmentally friendly, low emission Series Diesel
Electric Hybrid engine system, aimed initially at the public transport sector.
'In July the company launched its TRIBRID power-pack at the Cenex Low Carbon
Vehicles Exhibition held in Leeds generating industry wide recognition as the
first commercially available 'supercap' powered bus in the UK. The vehicle has
the ability to draw on three separate power sources - the diesel engine,
batteries or super-capacitors. The bus being run by Arriva Southern Counties
('Arriva SC') has been updated to the TRIBRID configuration.
'Experience continues to be gained on active routes with Transport for London
operator Epsom Coaches, with Arriva North West, operating on Merseytravel's
CATCH Project, with Arriva SC in West Sussex and with Ipswich Buses Limited.
'To date these four vehicles have completed over 70,000 miles, gaining real time
experience and operational data on their performance with Traction's hybrid
engine system.
'The company has increased its technical capability during the year and is
designing the next generation of hybrid engine control system. The system will
be flexible and scalable to larger and smaller vehicles. It will provide more
effective energy management and further increase reliability.
'In November a Memorandum of Understanding was signed with The Optare Group to
jointly develop a range of single deck hybrid vehicles for the UK Market. A
prototype vehicle is expected to run in service by mid 2008, with customer
vehicles available for delivery later in the year.
'The growing recognition of the environmental benefits that come from hybrid
vehicles - particularly for the stop-start urban cycle - coupled with increasing
political and regulatory pressures, leaves the Company well positioned for
future success.
'We believe that we are now the most technologically advanced developer of
series hybrids in the UK and look forward to maintaining the Company's
position.'
Contacts:
Traction Technology plc Ambrian Partners Ltd Parkgreen Communications
Nick Brayshaw, Chairman Richard Brown Paul McManus
01403 791392 Richard Greenfield 020 7479 7933
www.ttplc.co.uk 020 7776 6400 07980 541 893
paul.mcmanus@parkgreenmedia.com
This information is provided by RNS
The company news service from the London Stock Exchange