Tech/Ops Sevcon, Inc. Receives U.K. Government Research and Development Grant

Tech/Ops Sevcon, Inc. (NASDAQ symbol TO) today announced that it has received a second research and development grant from One North East, the Regional Development Agency responsible for the support of business in the North East of England. The grant of £250,000 ($400,000) was awarded to assist the Company in the acceleration of the availability of its new EVO5 product. EVO5 is a novel, integrated motor and controller package aimed at on road electric vehicle drive train applications. The combination of motor and controller, its compact nature and variants thereof will allow it to be used in a wide range of vehicles, including parallel and serial hybrids as well as direct drive full EV vehicles. The grant is payable quarterly in arrears and will defray part of the engineering cost associated with the acceleration of the product’s development up to March 31, 2011.

Tech/Ops Sevcon, Inc. is a world leader in the design, manufacture and marketing of microprocessor based controls for zero emission electric vehicles. The controls are used to vary the speed and movement of vehicles, to integrate specialized functions, and to optimize the energy consumption of the vehicles’ power source. Sevcon supplies customers throughout the world from its operations in the United Kingdom, the USA, France, and the Far East, and through an international dealer network. The Company's customers are manufacturers of on and off road vehicles including cars, trucks, buses, motorcycles, fork lift trucks, aerial lifts, mining vehicles, airport tractors, sweepers, and other electrically powered vehicles.

Tech/Ops Sevcon, Inc. (MM) (NASDAQ:TO)
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