Wednesday, January 07, 2009

Ultimate Sports Inc. to acquire ePower Synergies

Ultimate Sports Press Release

Lafayette, IN -- Ultimate Sports Inc., a manufacturer and supplier to the recreational vehicle industry, today announced that the company has signed a Letter of Intent to acquire ePower Synergies, a provider of alternative energy vehicles.

ePower Synergies was founded by Bruce Wood, the former director of John Deere's ePower technologies. The company has developed and markets a personal transporter called the RIDE(R) which competes directly against the Segway in the personal transporter vehicle market.

The merger will combine the strengths of each corporation to streamline the manufacturing process of ePower's electric vehicles. Initially, the companies will focus on mass producing the Blue-RIDE, a personal transporter designed specifically for law enforcement and private security forces needing enhanced visibility and presence for events, campuses, traffic and other areas heavily traversed by pedestrians.

"We view this merger as a great opportunity to enter the electric vehicle industry and utilize our expertise in the manufacturing and development with ePower's cutting edge technologies," says Dr. Mart Maassen, Ultimate Sports' chairman. "By consolidating our resources, we will reduce costs and increase manufacturing capabilities to meet the growing demand for sustainable energy vehicles."
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