HHP Summit 2017

Azure Dynamics

Azure Patents Going to Canada’s Mosaid

August 15, 2012 in Electric Drive, EVs, Hybrids by Rich Piellisch  |  No Comments

Azure Dynamics is negotiating with Mosaid Technologies for Mosaid to buy the beleaguered electric drive vehicle company’s patents and related assets.
Read More >>

Azure Resumes Warranty Work

April 22, 2012 in Electric Drive, EVs, Hybrids by Rich Piellisch  |  No Comments

Signing the announcement as “Team AZD,” Canada’s Azure Dynamics (Toronto:AZD) has pledged to emerge from bankruptcy protection.

It has meanwhile restored warranty services – albeit with a reduced service roster – and is asking for “patience.”
Read More >>

Azure Dynamics Files for Bankruptcy

March 28, 2012 in Electric Drive, EVs, Hybrids by rich  |  No Comments

item updated late March 29

‘We Can Come Back Stronger’

Citing tight finances, government demands for further information related to a planned stock offering, and a lack of time, Azure Dynamics (Toronto:AZD) gave word March 26 that it’s asked for protection from creditors via the Supreme Court of British Columbia under Canada’s Companies’ Creditors Arrangement Act. Azure said too that it will file “a voluntary petition under Chapter 15 of title 11 of the United States Bankruptcy Code to seek recognition and enforcement in the United States of the Initial Order requested in the CCAA proceedings.”

The stock offering has been be abandoned.

A pure battery electric Transit Connect with drivetrain by Azure Dynamics was among the alt fuel vehicles shown by Ford at this year's Work Truck Show in Indianapolis.

A pure battery electric Transit Connect with drivetrain by Azure Dynamics was among the alt fuel vehicles shown by Ford at this year’s Work Truck Show in Indianapolis.

Azure has laid off approximately 120 of 160 workers and has closed down operations in Michigan, Boston and the UK.

“We had to retreat back to British Columbia,” says marketing VP Mike Elwood, “and begin the process of restructuring.” Azure will do so, he told F&F, with a team of about 30.

“We’re going to be lean,” he says. All of the firm’s core engineers, Elwood adds, have been retained.

Production meanwhile has ceased, including the battery electric Transit Connect by AM General and Balance hybrids by Utilimaster. Other major creditors include Ford, Johnson Controls, and Britain’s Lotus.

Future projects, like the planned development of plug-in hybrid electric versions of Ford trucks, are for now in limbo.

‘We Need to Get the Ship Turned’

“We’re not going to abandon anything, but we need to get the ship turned,” Elwood says.

He insists that he’s optimistic, that Azure’s failure to secure approval for the new stock offering forced a move that might well have been necessary anyway.

“We can come back stronger than we were before,” he says, and “grow the business in proportion to sales.”

“The decision to abandon the offering and commence CCAA proceedings comes after several weeks of formal and informal communications with staff of the Ontario Securities Commission,” Azure CEO Scott Harrison said in a release. Azure said that OSC indicated it would not approve the offering, despite the inclusion of detailed risk factor information in the proposed prospectus language.


-------------------------------
Contact information is only available to premium subscribers. Click here to purchase a subscription.

Napa Valley USD Welcomes New Hybrids

February 6, 2012 in Hybrids by rich  |  No Comments

Northern California’s Napa Valley Unified School District is deploying new hybrid buses, employing parallel drive technology from Eaton and Azure Dynamics.
Read More >>

EV Advocates Get Serious

January 15, 2012 in EVs, Fleet Order by rich  |  No Comments

ELC Calls for Large-Scale Fleet Demo Project, Could Be 1,500 Vehicles,
PG&E to Help Create ‘Comprehensive National Model for EV Deployment’

A coalition claiming “blue chip” membership is designing a large-scale electric vehicle demonstration project it says “will help create a comprehensive national model for EV deployment.” This year and next could see more than a thousand EVs, likely in Northern California.

Navistar, Pacific Gas and Electric, FedEx Express, A123 Systems, Hertz, Azure Dynamics, Coda Automotive, Ecotality, Automatiks, and GE Capital are members of the just-announced Electrification Leadership Council.

1,000 EVs? 1,500?

ELC, which according to Navistar eStar battery electric truck VP Mark Aubry has been working for more than a year, also includes large delivery service companies and vehicle manufacturers, and representatives of national, state and local agencies.
Read More >>

Azure Delivers 1,000th Balance, to Purolator

January 14, 2012 in Uncategorized by rich  |  No Comments

Azure Dynamics has delivered the 1,000th Balance hybrid electric, to Purolator Courier, its largest customer, which has 555 of them.

Azure Dynamics has delivered the 1,000th Balance hybrid electric, to Purolator Courier, its largest customer, which has 555 of them.

Azure Dynamics (TSX:Toronto) has delivered its 1,000th Balance hybrid electric, to Purolator Courier, its largest customer, which now has 555 of the parallel drive vehicles.

The 1,000th Balance truck represents Purolator’s 200th received in 2011, as part of a 600-unit order to be delivered over a three-year period. Purolator currently operates 555 of the trucks, out of a total fleet of some 3,500 vehicles. An additional 200 units is slated for delivery this year, and another 200 in 2013, Azure says, subject to annual authorizations.

“Working alongside Azure Dynamics has helped Purolator to consistently deliver industry leading on-time service and reliability to our customers in a sustainable manner,” Purolator president and CEO Tom Schmitt says in a Azure release. In 2005, Purolator was the first express transportation company in Canada to introduce hybrid electric vehicles, Azure says.

The Balance hybrids for Purolator are integrated by Azure on a Ford E-450 chassis with a Ford 5.4-liter gasoline engine. The hybrid electric drive features engine-off at idle and below 20 miles per hour, and electronically supports key ancillary functions like power steering and braking. It “is ideally suited for commercial activity in urban environments,” Azure says.

Azure says it’s the world’s leading provider of hybrid electric powertrain solutions in the Class 2c-5 medium-duty commercial hybrid truck sector, with a market share of approximately 50%.

Azure in the UK & Norway

January 2, 2012 in EVs, Fleet Order by rich  |  No Comments

GE Helping UK Fleets Try Battery Transit Van
As RøhneSelmer Targets 400 Units Per Year

Pure battery Transit Connect Electric vans will be tested by fleets via GE Capital in England, where Azure Dynamics produces the vehicles in league with Lotus.
Read More >>



  • Archives