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SOURCE Balqon Corporation
Balqon Corporation and Polar Power Inc. to develop DC charging generators for high voltage lithium battery powered trucks and buses
HARBOR CITY, Calif., Sept. 16, 2013 /PRNewswire/ -- Balqon Corporation (OTCBB: BLQN), a developer of electric drive system technology for commercial vehicles, today announced that it has entered into a Joint Development Agreement with Polar Power Inc. to develop series plug in hybrid system for its line of heavy duty electric trucks and buses. Under this Agreement both companies will work towards development of a 40 kw on-board DC hybrid generator to charge batteries during daily drive cycle to increasing the range of the vehicles.
"Integration of on-board generator in our 2014 model year vehicles allows us to address increased range applications for heavy duty trucks and buses used at ports, airports and distribution warehouses, while still providing our customer with lower operating cost and emissions of an electric drive train" said Balwinder Samra, CEO and President of Balqon Corporation. "We believe Polar Power's decades of experience in developing and integrating DC powered generator systems provides us the opportunity to jointly address the growing need for lower emission heavy duty vehicles in global markets," he added.
"Our experience in DC generators and hybrid industrial/commercial and military vehicles combined with Balqon's experience in heavy duty electric drive system provides both companies an opportunity to expand our markets in stationary, marine and mobile power applications," said Arthur D. Sams, CEO of Polar Power Inc.
Balqon zero emission heavy duty trucks and drive systems are designed to transport up to 30 ton cargo containers using our proprietary technologies. Our products include Model XRE20 yard tractor designed for port drayage applications powered by lithium batteries.
About Polar Power Inc.
Polar Power Inc. was founded in 1979 and since then has specialized in DC polar and cooling solutions. Polar Power manufactures DC generators for commercial vehicle range extenders and provides level 2 and 3 fast charging. Polar's Diesel, Propane and Natural Gas powered chargers are compact, light weight, and fully automated. Polar's natural gas fueled chargers allow rapid charging at fleet stations where the electrical service is insufficient and costly to add. Using natural gas to charge vehicles is a solution to future problems with the grid. For more information, please visit http://www.polarpowerinc.com
About Balqon Corporation
Headquartered in Harbor City, California, Balqon Corporation is a leading developer of zero-emissions electric drive systems, lithium battery systems and medium to heavy-duty electric vehicles. Balqon is recognized as a pioneer in commercial electric vehicle technology and development of energy efficient transportation solutions. For more information, please visit http://www.balqon.com. Balqon Corporation's common stock trades on the OTC Bulletin Board under the symbol "BLQN". Follow us on Twitter @balqon or visit our Facebook page at: balqoncorporation.
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, whether Hybrid Generator will reduce customer operating cost is a 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; 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 and Quarterly Report for the six month ended June 30, 2013 filed with the Securities and Exchange Commission.
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