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Corvus Energy signs a Memorandum of Understanding with TUG Technologies

Dépèche transmise le 9 mars 2012 par Business Wire

Corvus Energy signs a Memorandum of Understanding with TUG Technologies

Corvus Energy signs a Memorandum of Understanding with TUG Technologies

RICHMOND, British Columbia--(BUSINESS WIRE)--TUG Technologies Corporation, a leading global manufacturer of aviation ground support equipment (GSE) and Corvus Energy, manufacturer of the world’s most powerful lithium polymer batteries, today announced they have signed a memorandum of understanding (MOU) whereby TUG will incorporate Corvus Energy lithium GSE technology into TUG Technologies’ portfolio of GSE products.

“This partnership will allow us to access the market more rapidly with our zero emission, zero battery-maintenance GSE technology; being associated with such a high quality company as TUG Technologies is an honor and a responsibility we cherish worldwide.”

The two companies initially expect to collaborate by producing an electric version of TUG’s popular MA series baggage tractor powered by Corvus Energy’s lithium polymer based drivetrain solutions. The lithium MA will be available for purchase this spring and will be followed by a lithium 660 belt loader this summer.

“We are thrilled to have the opportunity to work with a market leader such as TUG,” said Corvus Energy’s Vice President of Business Development, Sean Puchalski. “This partnership will allow us to access the market more rapidly with our zero emission, zero battery-maintenance GSE technology; being associated with such a high quality company as TUG Technologies is an honor and a responsibility we cherish worldwide.”

“An agreement with Corvus will give us access to proven lithium battery technology from a partner who understands GSE engineering,” said TUG Technologies’ President and CEO, Stefaan Ver Eecke. “Our GSE portfolio is well-positioned to introduce new technologies to customers that reduce fuel consumption, maintenance costs and help preserve the environment. We believe the combination of Corvus’ advanced drive train technology and TUG TUFF engineering will be a significant enhancement for the GSE industry.”

Corvus GSE batteries last three to five times longer than lead acid, have unparalleled runtime per charge, exceptionally fast recharge speeds and require no battery maintenance. They are backed up by an industry leading 8-year warranty, and each system is built with industrial quality components that are fully sealed and waterproof. All kits come complete with integrated safety systems, remote fault diagnosis, creating a high performance electric GSE solution for TUG’s customers.

About TUG Technologies Corporation

Headquartered in Kennesaw, GA, TUG Technologies is an original equipment manufacturer of ground support equipment. For more than 35 years the company has been providing a broad line of aviation ground support equipment, both electric and combustion powered including aircraft push back tractors, air conditioners, aircraft tow tractors, air starts, baggage tow tractors, baggage belt loaders, ground power units, and heaters. With 11 offices throughout the U.S., TUG offers 36 new equipment models built exclusively in the USA, over 25,000 service parts, equipment refurbishment, fleet management, fleet tracking and financing options, as well as used equipment and rentals. For more information, please visit www.tugtech.com.

About Corvus Energy Ltd.

Based in Richmond, B.C., Canada, Corvus Energy provides industrial-sized power in a compact, modular lithium-ion battery system to aviation, commercial marine, transportation, ports machinery, remote community, off grid and grid energy markets. Its revolutionary battery packs have the capacity to output sustained power comparable to diesel engines in hybrid and full-electric vessels and vehicles. For more information on Corvus Energy, please visit www.corvus-energy.com.

Business Wire

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