Electrosource Horizon(R) C2M Powered Vehicle Wins Monte Carlo Rallye Event
6 November 1997
Electrosource Horizon(R) C2M Powered Vehicle Wins Monte Carlo Rallye EventSAN MARCOS, Texas, Nov. 6 -- Electrosource, Inc. , announced today that an electric version of a Piaggio Porter, powered by HORIZON(R) C2M batteries won first place in the Energy Usage Category in the prototype class and second overall in the Third Annual Monte Carlo Rallye of Electric Vehicles. The energy usage category rates the efficiency of the battery pack. A more efficient system saves money in fuel (or battery kilowatt hours). The Porter, a small delivery truck manufactured by Piaggio V.E. SpA, was powered by 20 production HORIZON C2M (co-extruded composite matrix) batteries during the challenging 215-mile course from October 16-18. Climbing steep hills with hairpin curves under rigid time schedules challenged the Piaggio Porter which traveled with 38 state-of-the-art international competitors. Battery technologies tested under the strenuous conditions included lead-acid, nickel cadmium, and nickel-metal hydride. Electrosource batteries are composed of advanced lightweight composite materials creating a high specific power/high specific energy combination. Another electric vehicle, the FIAT Cinquencento, also used Electrosource batteries during the Rallye. This small two-seat commuter also benefited from HORIZON C2M battery efficiency. The driver, Piero Rissone (one of FIAT's leading race drivers), said he was very impressed with the acceleration, power, and range provided by these advanced batteries. Electrosource is designing electric vehicle battery packs with a charge management system for FIAT Auto, of Italy. "The results of this event present another example that our HORIZON C2M technology is not only cost efficient, but also competitive with advanced electro-chemical batteries on a performance basis," said Electrosource Executive Vice President of Marketing, Bill Griffin, who was on site for the Rallye. He added that the HORIZON C2M powered vehicles completed each event segment with ample power and energy to spare. "We were fortunate to team with Piaggio and FIAT -- two leaders in minimum environmental impact technology. These customers were very pleased with the overall performance of our batteries, and we generated interest in Electrosource products from new sources." The Monte Carlo Rallye brought together the European leaders of electric propulsion. An organizer for the Monte Carlo Rallye commented that electric vehicle performance has greatly improved since the event began three years ago. He added, "These efficient vehicles are gaining international appeal in their ability to provide a clean alternative to internal combustion vehicles in cities suffering from pollution." Electrosource, headquartered in San Marcos, Texas, designs, manufactures and markets proprietary advanced energy storage technologies and systems. Additional information about the company is located on the internet at http://www.electrosource.com . Statements regarding future product development and sales growth are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those set forth in the forward- looking statements, including delays in shipment or cancellation of orders, timing of future orders, customer reorganization, fluctuations in demand and the other risks detailed from time to time in the Company's reports which are filed with the Securities and Exchange Commission. SOURCE Electrosource, Inc.