Release Details

• AV to partner with Hawaiian Electric Company, University of Hawaii at Manoa and Hawaii Automobile Dealers Association
• Program includes deploying electric vehicle infrastructure statewide, collecting and analyzing charging data to study impact on electricity distribution and providing public outreach and educational programs to promote EV growth

HONOLULU--(BUSINESS WIRE)-- First Hawaiian International Auto Show — Hawaii Lt. Governor Brian Schatz today announced that AeroVironment (NASDAQ: AVAV) has been selected to help lead the way to a cleaner transportation future through an $820,000 contract from the Hawaii EV Ready Grants Program. The contract will fund the deployment of up to 320 AeroVironment 240-volt electric vehicle (EV) charging docks throughout the islands. Once deployment is completed, Hawaii will have one of the nation's first statewide public charging networks supporting electric vehicle drivers.

AeroVironment (AV), the official home charging-dock provider for the Nissan LEAF® and co-developer of the first modern-day electric vehicle, the GM Impact, will partner with Hawaiian Electric Company (HECO) to design and build public and semi-private charging stations at convenient locations for electric vehicle owners, including high-rise buildings, resorts and rental car facilities.

AeroVironment's charging docks, including the two-port or four-port EVSE-RS+ and EVSE-CS (commercial) dock, will be strategically located throughout Oahu, Hawaii Island, Maui, and Kauai to offer drivers a practical, safe and reliable EV charging experience. AeroVironment has installed more than 1,000 charging docks in more than 300 communities across 18 states since November 2010.

The State of Hawaii is offering a rebate of up to $500 for installing charging docks through its Hawaii EV Ready Rebate Program. Customers who purchase an EV are also eligible for a state rebate of up to $4,500. In combination with the Hawaii EV Ready Grant Program and other development efforts, the rebates aim to establish the state as a leader in the clean transportation movement.

"We look forward to working with AeroVironment to help reduce the use of oil for transportation," said Robbie Alm, Hawaiian Electric executive vice president. "Wide use of electric vehicles will not only help reduce our fossil fuel dependence, it will make it easier to increase our use of renewable energy sources such as wind power and others, all contributing to our energy, economic and environmental security."

Alm added, "AeroVironment shares this vision and is an outstanding example of a supplier with a comprehensive solution for the EV market, a history in Hawaii, experience working with leading auto manufacturers and consistent high quality customer support."

The Hawaii Natural Energy Institute (HNEI), University of Hawaii at Manoa will work with AeroVironment and Hawaiian Electric to collect data from chargers to analyze the impact of EVs and associated infrastructure on the power distribution grid.

"AeroVironment's team focuses on the entire user experience from the start by providing the right tools and a full range of practical, groundbreaking solutions," said Richard Rocheleau, director of the HNEI. "As a result, we'll have the unique ability to collect and analyze usage patterns that will help us project the increased demand on Hawaii's utilities as EV adoption accelerates."

AeroVironment has been working on clean transportation programs in Hawaii for more than a decade, beginning with deployment of fast charging stations for passenger EVs in the early 2000s. AeroVironment also established world altitude records with its solar-electric, unmanned aircraft systems at the U.S. Navy Pacific Missile Range Facility at Barking Sands on Kauai.

"AeroVironment and the state of Hawaii are pioneers in the EV movement and have a long partnership focused on introducing clean transportation solutions," said Mike Bissonette, senior vice president of Efficient Energy Systems for AeroVironment. "Together, we're deploying practical solutions for a game-changing electric transportation ecosystem that will dramatically alter the vehicle refueling paradigm for drivers in Hawaii, the United States and the world."

About AeroVironment, Inc.

AV 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). AV'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. AV's industrial fast charging systems support thousands of electric materials handling vehicles in mission-critical supply chains for Fortune 500 enterprises. AV'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.

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; 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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AeroVironment, Inc.
Steven Gitlin (Media and Investor Relations)
626-357-9983
pr@avinc.com
or
Fleishman-Hillard for AeroVironment, Inc.
Deborah Rapoport
310-482-4276
deborah.rapoport@fleishman.com

Source: AeroVironment, Inc.

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