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AeroVironment (NASDAQ: $AVAV) Introduces New PosiCharge ProCore OC Electric Forklift Charger; Now Provides Comprehensive Fast and Opportunity Charging Solution for Forklift Fleets

 

ATLANTA - April 11, 2018 (Investorideas.com Newswire) AeroVironment, Inc. (NASDAQ:AVAV), a leading supplier of industrial fast and opportunity charging solutions for electric forklifts, today at MODEX 2018 (booth B4033) introduced PosiCharge ProCore™ OC, the newest addition to the company's premium intelligent charging family that supports and charges any material handling battery.

"ProCore OC expands our PosiCharge ProCore intelligent charging product line with an opportunity charger designed to deliver efficiency, ROI on material handling operations and the reliability our customers expect," said Ken Karklin, vice president and general manager of AeroVironment's Efficient Energy Systems business segment. "Safe, reliable and easy-to-use, ProCore OC offers many of the built-in features and much of the functionality typically found on our premium ProCore fast charger solutions - and at a lower price point."

Karklin added that ProCore OC also rounds-out the PosiCharge product offering, providing Material Handling customers a single source for a full line of intelligent charging solutions.

"With multi-voltage flexibility, plus the ability to support and charge any forklift battery regardless of type, chemistry, voltage or size, ProCore OC very capably meets the opportunity charging needs of the material handling industry," he said.

ProCore OC's compact design and high frequency power stage technology make for a lighter, more efficient charger that takes up less floor space - yet is power packed. While its modular power stages ensure ultimate flexibility, its robust, single port architecture makes ProCore OC highly customizable. This operational flexibility translates to less repair time and increased productivity. And its colorful, digital display makes reading and understanding charger operations easier.

Power Packed

This latest addition to AeroVironment's family of premium intelligent fast and opportunity charge systems includes a wide array of features that makes it easy to use, flexible, customizable and cost-effective. And like other PosiCharge ProCore models, ProCore OC ranges in power from 5kW for lower-duty vehicles to 30kW for the hardest-working electric forklifts - making the ProCore series the ideal charging solution for electric forklift fleets of all sizes.

ProCore OC's innovative app allows users to program the charger and download data via a smartphone running iOS or Android, which means that configuring new units and managing fleets can be done remotely - and troubleshooting is just a click away.

All PosiCharge intelligent charging systems are designed to deliver a measurable, positive impact on the environment by reducing the total number of batteries required to operate each fleet, and by improving the efficiency and performance of every battery.

AeroVironment is now taking orders for ProCore OC and customers will begin receiving deliveries in June. AeroVironment will showcase the PosiCharge product line at its Modex 2018 booth (B4033), April 9-12, at Atlanta's Georgia World Congress Center. For more information, please visit www.posicharge.com.

About AeroVironment

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, tactical missile systems and electric vehicle charging and test systems, and serves militaries, government agencies, businesses and consumers. For more information visit www.avinc.com.

Safe Harbor Statement

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as "believe," "anticipate," "expect," "estimate," "intend," "project," "plan," or words or phrases with similar meaning. Forward-looking statements are based on 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 the forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, reliance on sales to the U.S. government; availability of U.S. government funding for defense procurement and R&D programs; changes in the timing and/or amount of government spending; risks related to our international business, including compliance with export control laws; potential need for changes in our long-term strategy in response to future developments; unexpected technical and marketing difficulties inherent in major research and product development efforts; changes in the supply and/or demand and/or prices for our products and services; the activities of competitors and increased competition; failure of the markets in which we operate to grow; failure to remain a market innovator and create new market opportunities; changes in significant operating expenses, including components and raw materials; failure to develop new products; the extensive regulatory requirements governing our contracts with the U.S. government; product liability, infringement and other claims; changes in the regulatory environment; 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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