Vision Industries Receives a Letter of Intent to Purchase 100 Class-8 Trucks
Vision Industries announces that it has received a Letter of Intent from Total Transportation Services, Inc. (TTSI) of Rancho Dominguez, California, to purchase one hundred zero emission Tyrano(TM) hydrogen fuel cell-electric class 8 heavy-duty trucks at a total purchase price of approximately $27,000,000 dollars. The purchase is subsequent to the successful trial of the initial vehicle which will be delivered to TTSI on Friday the 22nd of July. The Letter of Intent also opens the door for TTSI to purchase an additional three hundred Vision trucks, bringing the total value of a TTSI sales contract to approximately $108 million dollars.
"We are pleased to see such demand from a trucking company of TTSI's caliber. It underlines our assumptions that there are multiple commercial applications for our hydrogen powered zero emission big rigs in today's trucking industry," says Martin Schuermann, CEO of Vision Industries Corp.
To jumpstart the LOI, TTSI will take delivery of the first Vision Tyrano(TM) zero emission truck for testing in commercial revenue service. The initial truck will perform typical drayage operations, hauling freight containers from port terminals in the Ports of Los Angles and Long Beach to rail yards and other distribution facilities.
"Up and above the benefit of Zero Emissions, we at TTSI feel that this fuel format is the only true way to break our dependence on imported fuel. Hydrogen is the most abundant resource on the planet," says Vic La Rosa, President of Total Transportation Services, Inc.
TTSI will take delivery of the initial zero emission truck at a Kick-off Event on July 22, 2011 at Vision's El Segundo R&D Facility. The Kick-Off Event is being called "The Birthplace of the Hydrogen Economy -- the Future of Transportation Today." The vehicle is part of a project funded jointly by Vision and the Ports of Long Beach and Los Angeles through the Technology Advancement Program (TAP).
About Total Transportation Services, Inc. (TTSI)
Headquartered in Rancho Dominguez, CA, TTSI is a national , progressive, asset based logistics provider with distinct expertise in distributing imports in the US, Canada, and Mexico. TTSI offers agile distribution solutions and transportation options for the simplest delivery to the most complex supply networks. TTSI operates full-service drayage, rail service and warehousing for full container and LCL Shipments from the Ports of Los Angeles/Long Beach, San Diego, Norfolk, and Seattle/Tacoma. For more information about Total Transportation Services, Inc., please visit www.tts-i.com.
About Vision Industries
Vision is a developer of zero emission electric/hydrogen hybrid powered vehicles and turnkey hydrogen fueling systems. Vision's proprietary electric/hydrogen hybrid drive system combines the superior acceleration of a battery powered electric vehicle with the extended range provided by a hydrogen fuel cell. For more information on Vision Industries Corp., please visit www.visionindustriescorp.com