Release Details

• Contract for PosiCharge systems valued at up to $8.8 million through 2014
• Multi-port charging systems provide for common use among different airlines, ground handlers, service vehicles and battery types

LOS ANGELES--(BUSINESS WIRE)-- Electric Vehicle Symposium 26 — AeroVironment, Inc. (NASDAQ: AVAV) today announced the Port of Seattle has awarded the company a contract valued up to $8.8 million through 2014 to supply its PosiCharge™ electric Ground Support Equipment (eGSE) fast charge systems to the Seattle-Tacoma International Airport.

AeroVironment was selected following a rigorous competitive evaluation of multiple fast charge system suppliers. The PosiCharge eGSE fast charge systems support the airport's common use goals, making it possible to charge any electric GSE vehicle with any PosiCharge system at the airport.

"This project will be a tremendous step toward our Century Agenda goal to reduce carbon emissions by 50 percent from 2005 levels," said Elizabeth Leavitt, planning and environmental programs director at Seattle-Tacoma International Airport. "We will continue to strive to meet our broader air emission reduction goals."

Every large hub and many smaller airports in the United States now operate at least one AeroVironment PosiCharge eGSE fast charge system. PosiCharge systems have already enabled major international airports such as Boston Logan, Charlotte, Chicago O'Hare, Dallas Fort Worth, Dulles, George Bush, John F. Kennedy, La Guardia, Los Angeles, Miami, Newark, Philadelphia and San Francisco to replace thousands of their fossil-fueled GSE vehicles with cleaner, more efficient electric-powered alternatives.

PosiCharge systems also keep eGSE vehicles running reliably at Bob Hope airport in Burbank, Calif., the first in the United States to convert to an "all-electric" GSE fleet model. International airports outside of the United States with PosiCharge systems include Bogota, Brisbane, Christchurch, Dubai, Hong Kong, Macau, Melbourne, Mexico City, Santiago and Toronto.

AeroVironment's PosiCharge system improves the productivity of ground support equipment and personnel by charging vehicles quickly and safely. Reliable charging infrastructure ensures that the vehicles are ready to work when needed to support airlines' time-sensitive operations, while maintaining battery health and vehicle performance.

"The Port of Seattle's management has made an important commitment to the environment and to the productivity of airlines operating at Seattle Tacoma International by investing in common use fast charge infrastructure," said Wahid Nawabi, AeroVironment senior vice president and general manager of its Efficient Energy Systems business segment. "Our proven technology helps our customers easily switch to clean, electric vehicles while increasing their productivity. This is the core of our EV infrastructure value proposition - to enable an easy, clean transportation future with real world reliability."

The technology behind its electric vehicle charging solutions emerged after AeroVironment's substantial contributions to the development of the GM Impact, the concept car for General Motors' EV1, the first modern electric car. AeroVironment later created materials handling and airport specific solutions, combining high current charging algorithms with intelligent thermal management to safely increase the useful range of electric battery packs. Today, AeroVironment's multi-port electric vehicle charging solutions maximize the available infrastructure while significantly reducing the amount of time required to safely charge electric materials handling and airport vehicle battery packs to maximize their range, performance and lifespan.

Drivers of more than 2,500 airport electric ground support vehicles and more than 10,000 electric materials handling vehicles in factories and distributions centers across the country depend on AeroVironment industrial EV charging infrastructure every day, around the clock to keep air travel and supply chains moving. Thousands of passenger electric vehicle drivers depend on AeroVironment home and public charging systems every day for their emissions-free commutes.

About AeroVironment

AeroVironment is a technology solutions provider that designs, develops, produces, operates 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 electric vehicle 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 electric-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: 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, +1-626-357-9983
pr@avinc.com

Source: AeroVironment

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