AeroVironment, Inc. (NASDAQ: AVAV) today announced that it has been selected by the Oregon Department of Transportation (ODoT) to install its high-power Level 3 electric vehicle (EV) fast charging stations along the I-5 corridor from the California state line to the Willamette Valley. This is the beginning of the “Green Highway,” a vision for safe and consistent charging infrastructure spanning the West Coast, allowing EV drivers to travel with confidence from San Diego to Vancouver, B.C.
“Oregon is demonstrating tremendous leadership in advancing the ‘Green Highway,’” said Mike Bissonette, senior vice president and general manager of Efficient Energy Systems for AeroVironment. “We look forward to working with ODoT and other stakeholders in the state to design the optimal corridor to support local and long-distance travelers.”AeroVironment will analyze driving distances, common destinations, vehicle range and other factors in its selection of the EV fast charging sites at eight interchanges identified by ODOT along a 150-mile segment of the I-5 in Southern Oregon. The company is also experienced in working with utilities and will collaborate with local utilities to prepare for the deployment. The company anticipates installing the fast charging stations along Oregon’s “Green Highway” by the end of this fall. The project is funded by the American Recovery and Reinvestment Act (ARRA) awarded through the State Energy Program (SEP). The U.S. Department of Energy administers the funds, approves the projects and reviews the state’s progress. In addition to 480-volt fast charging stations AeroVironment also provides J-1772 compliant 240-volt Level 2 charging stations, installation and support services and data communications network services. More than 2,000 AeroVironment Level 2 charging stations have been installed in 21 U.S. states since late 2010. About AeroVironment, Inc. AeroVironment is a technology solutions provider that designs, develops, produces and supports an advanced portfolio of electric transportation solutions and electric-powered Unmanned Aircraft Systems (UAS). AeroVironment’s comprehensive EV charging solutions include EV home charging, public charging, fast charging, data collection, grid-integrated communications and complete installation, training and support services for consumers, automakers, utilities, government agencies and businesses. AeroVironment’s industrial fast charging systems support thousands of electric materials handling vehicles in mission-critical supply chains for Fortune 500 enterprises. AeroVironment’s power cycling and test systems provide EV developers and EV battery manufacturers with market-leading simulation and cycling capabilities. Agencies of the U.S. Department of Defense and allied military services use the company’s battery-powered, hand-launched unmanned aircraft systems to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance and communication. More information is available at www.avinc.com and www.evsolutions.com. Safe Harbor Statement Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.