Milbank Manufacturing Selects AV’s Electric Vehicle Charging Solutions for National Distribution
February 01, 2011
Milbank Manufacturing Selects AeroVironment's Electric Vehicle Charging Solutions for National Distribution Program to Expand Charging Infrastructure
- Partnership extends EV charging infrastructure throughout the United States
- Provides access to AeroVironment EV charging solutions for major home improvement retailers serviced by Milbank
- Distribution network agreement includes formal training program for electrical contractors installing AeroVironment's products
SAN DIEGO, Calif., DistribuTECH, Feb. 1, 2011 -- Milbank Manufacturing Co. of Kansas City, Mo., announced today that it has selected AeroVironment, Inc. (AV)(NASDAQ: AVAV) of Monrovia, Calif., to provide AV's electric vehicle (EV) charging stations to its customers -- including utilities, developers, contractors, businesses, and consumers -- through Milbank's nationwide distribution network. The partnership enhances Milbank's PowerGen® line of renewable power solutions and furthers the expansion of EV charging infrastructure throughout the United States.
Milbank will offer several of AV's EV charging station models to meet its customers' diverse needs, including vehicle charging at the home, office, retail complex, fleet yard, or construction site. AV's smart charging station is compatible with the Smart Grid and capable of interacting with utilities to help manage the potential impact of EVs on the electric grid. Milbank's distribution network will give electrical contractors throughout the nation access to AV's leading EV charging products to support all-electric and hybrid-electric vehicles. EV and hybrid-electric drivers will also gain access to these products through major home improvement retailers serviced by Milbank. "AeroVironment has been continuously innovating in the electric vehicle space for decades," said Lavon Winkler, President and CEO of Milbank. "We share a common vision with AeroVironment to provide an end-to-end solution that ensures complete peace of mind for EV drivers, so they can literally charge up and go."
When the EV line is launched this spring, the company plans to feature a range of Milbank-branded charging solutions from AeroVironment: • MEVSE-RS Level 2 charging dock for home and business • Dual- and quad-port MEVSE-RS configurations that charge two and four EVs from a single utility connection • MEVSE-RS+ smart charging dock, which enables communication with the grid to turn drivers' homes into grid-connected smart charging hubs • CHAdeMO-certified Level 3 DC EV50-PS and EV50-FS, which recharge vehicles in minutes instead of hours
The program will be supported by formal training held at the Milbank Institute of Training (MIT), the company's training, UL certification, and research and development facility. Training will focus on all of Milbank's renewable solutions, including EV charging, backup power systems, and small wind turbines. "Milbank has been servicing the electric utility and wholesale distribution industries for more than 80 years," said Tim Conver, chairman and chief executive officer of AeroVironment. "We're honored to partner with a company with such a broad and loyal customer base and deep experience in the sustainability sector to complement our existing distribution channels. Combining Milbank's extensive network in 50 states and AeroVironment's EV charging leadership, this partnership will significantly expand access for Americans to charge their EVs anywhere, any time -- and with proven and reliable solutions."
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 defense, government and commercial customers. 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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