AeroVironment Awarded Patent for Core Battery Charging Technology
September 18, 2007
MONROVIA, Calif., Sept. 18, 2007 -- AeroVironment, Inc. (AV) (NASDAQ: AVAV), a leader in unmanned aircraft systems and efficient electric energy systems, has been granted a patent by the United States Patent and Trademark Office (USPTO) for a battery charging innovation that enables simultaneous or parallel charging of multiple batteries. The USPTO awarded AV patent No. 7,256,516 titled, "Battery charging system and method," on August 14.
Filed in 2003, the new patent expands upon AV's intellectual property portfolio in the area of battery charging technology. The patented technology enables AV's customers to overcome limitations associated with traditional sequential charging technologies. Using proprietary power management controllers and intelligent algorithms, the technology distributes electrical power based on the unique power needs of each battery to support industrial and on-road electric vehicle applications. The technology results in reduced charging times, minimizes the need for electrical infrastructure at customer sites, and supports increased operating productivity.
Parallel charging technology is at the heart of the company's PosiCharge® DVS (Dual Vehicle) and MVS (Multi-Vehicle) industrial fast charge systems and provides both a more cost-effective and productive battery charging solution than traditional charging technologies.
"Our customers have come to rely on this technology to improve their operations and this is further evidence that we have a unique solution to the problems associated with changing batteries," said Pat Dellario, general manager and vice president of AV PosiCharge Systems. "This is a key differentiator for us in the industrial electric vehicle marketplace. The granting of this patent validates our technological leadership and reflects our history of innovation," Dellario said.
PosiCharge fast charge systems allow users to eliminate the battery room and its associated challenges, thereby recovering run time, enhancing productivity, optimizing assets, and improving worker safety. PosiCharge fast charges each battery in the vehicle during scheduled breaks, so the battery never leaves the vehicle. The result is instant productivity improvement, a cleaner and safer work environment, and a streamlined workflow that no longer stops for battery changing. With proprietary technology that safeguards batteries by customizing each charge, PosiCharge can actually extend a battery's useful life compared to traditional charging solutions, further optimizing operations. PosiCharge has been supporting high-velocity Fortune and Global 500 facilities for more than six years. PosiCharge is an AeroVironment, Inc. business. For more information about PosiCharge, please visit www.posicharge.com.
About AeroVironment, Inc. (AV)
AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves militaries, government agencies, businesses and consumers. For more information visit www.avinc.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.
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