Charlottesville, VA – July 15, 2004 -- Aker Wade announced today that the company has received notification that the US Patent and Trademark Office is granting a US Patent covering the company’s fast charging technology. This development demonstrates the innovative and unique nature of the fast charging technology Aker Wade uses in its UniMAX® and TwinMAX® fast chargers and other fast charging products.

Aker Wade President and founding principal John Aker is pleased with the announcement. “It’s great that our success in designing breakthrough technology that will influence the future growth and development of the fast charging industry has been recognized this way,” he said.

Aker Wade is committed to the goal of maintaining a market leader position in the fast charging industry by aggressive patenting efforts worldwide. Other patents are pending in the US and other countries. “Our research and development efforts are expanding, and we will be introducing a number of new products in 2004,” notes Aker Wade CEO Bret Aker.

Using Insulated Gate Bipolar Transistor (IGBT) power electronics technology, the Aker Wade fast charger has the highest efficiency and power factor on the market today. The technological benefits include: higher labor productivity, greater safety and a high average battery state of charge that reduces motor wear. Operating costs are further reduced with the elimination of a facility's battery room and fewer batteries. The fast charger has a modular design ensuring nearly zero service downtime. Additionally, it is the only fast charger to work with or without a battery module ID, allowing any battery to charge on any charger. The ROI is about one year, with savings equaling approximately $10,000 per vehicle per year.