A sample text widget

Etiam pulvinar consectetur dolor sed malesuada. Ut convallis euismod dolor nec pretium. Nunc ut tristique massa.

Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan. Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem, suscipit in posuere in, interdum non magna.

USA: Balqon Receives Contract from the Port of Los Angeles to Retrofit Electric Yard Tractors

Contract funding of $630,000 to retrofit existing yard tractors with Balqon’s Lithium Battery System

HARBOR CITY, Calif., May 16, 2012 (BUSINESS WIRE) — Balqon Corporation BLQN +8.11% , a developer of electric vehicles, drive systems and lithium battery storage devices, has received a $630,000 contract from the Port of Los Angeles (“POLA”) to retrofit six electric powered yard tractors, converting battery packs from lead acid batteries to higher energy density lithium batteries to increase the daily range of the vehicles. For the past eight months, Balqon and POLA have been jointly testing two yard tractors fitted with Balqon’s next generation lithium battery system at a local intermodal facility.

“This contract to upgrade six extended range yard tractors to POLA’s demonstration fleet will allow us to showcase our current technologies to local marine terminals, warehouses and rail yards,” said Mr. Balwinder Samra, CEO of Balqon Corporation. “The past eight months of testing demonstrated that the vehicles retrofitted with lithium battery systems have an increased range of 12-14 hours on a single charge, and these results now need to be validated at other application settings such as marine terminals and rail yards.” “Being the only manufacturer of zero emissions yard tractors in the world, providing additional units to POLA provides us with the ability to introduce our technologies to a larger customer base in the San Pedro Basin region,” he added.

In 2009, Balqon delivered 14 Nautilus XE20 electric yard tractors equipped with lead acid batteries to POLA under an agreement between Balqon and the City of Los Angeles. The limited range of the vehicles equipped with lower energy density lead acid batteries led to the development of an extended range lithium battery powered electric yard tractor, Model XR E20.

The Nautilus XR E20 is a longer-range version of the XE20 and features the latest in lithium battery technology, allowing customers to perform two shift operations before having to recharge. The Nautilus XR E20 also features an increased charge rate, allowing customers to charge during breaks and shift changes. The vehicle fully recharges in less than two and a half hours.

Since 2011, Balqon has shipped Nautilus XR E20s to its customers in automotive, defense and steel industries. In addition, last year Balqon released the European version of the Nautilus XR E20 that was developed in collaboration with Balqon’s European manufacturing partner, MOL Industries.

Over 2,000 yard tractors are in service at the San Pedro Bay and are the single largest cargo handling source of particulate matter, contributing 150 tons or 61% of particulate matter, and NOx emissions at the ports. In addition to zero emissions, the XR E20 also provides up to 74% lower operating costs than conventional diesel vehicles, making it an economic zero emissions solution for heavy-duty off-highway applications.

About Port of Los Angles

The Port of Los Angeles ( ) is America’s premier port and has strong commitment to developing innovative strategic and sustainable operations that benefits the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North American in terms of shipping container volume and cargo value, the Port generated more than 830,000 regional jobs and $35 billion in annual wages and tax revenues. The Port of Los Angeles — A Cleaner Port. A Brighter Future.

About Balqon Corporation

Headquartered in Harbor City, California, Balqon Corporation is a leading developer of zero-emissions electric drive systems, lithium battery storage systems and medium to heavy-duty electric vehicles. Balqon’s proprietary electric drive system encompasses complete power management, propulsion, flux vector motor controllers and energy systems. Balqon electric vehicles and drive systems are marketed globally to companies, governments and municipalities looking for viable and effective ways to reduce their vehicle maintenance and operating costs and lower carbon emissions. Balqon is recognized as a pioneer in commercial electric vehicle technology and development of energy efficient transportation solutions. For more information, please visit . Balqon Corporation’s common stock trades on the OTC Bulletin Board under the symbol “BLQN”. Follow us on Twitter @balqon or #!/balqon or visit our Facebook page at: .

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

With the exception of historical information, the matters discussed in this press release, including without limitation, the economic and commercial viability of Balqon Corporation’s vehicles, including the Nautilus XR E20; whether the Nautilus XR E20 will evidence an increased range under loaded conditions; whether Balqon will successfully achieve a larger customer base; whether the Nautilus XR E20 will provide its users with lower operating costs than the operating costs incurred by users of conventional diesel products, and whether Balqon’s products will provide its customers with the distance and power they need are forward looking statements that involve a number of risks and uncertainties.. The actual future results of Balqon Corporation could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of the Balqon’s technologies and solutions; unforeseen technical issues; Balqon Corporation’s ability to attract sufficient capital and labor to manufacture its products; the ability of Balqon Corporation to attract and retain talented individuals; adverse economic and market conditions; the projected future demand for Balqon Corporation’s products, including the changes in technology and governmental regulations and policies; and other events, factors and risks previously and from time to time disclosed in Balqon Corporation’s filings with the Securities and Exchange Commission, including, specifically, those factors set forth in the “Risk Factors” section of Balqon Corporation’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.



2 comments to USA: Balqon Receives Contract from the Port of Los Angeles to Retrofit Electric Yard Tractors

Leave a Reply