Hybrid power specialist Enova Systems has won a £63 million long-term deal with IC Bus, America’s largest school bus manufacturer.

Based in California and quoted on both AIM and the American Stock Exchange, Enova is to supply its proprietary Post Transmission Parallel Hybrid Electric driver system for use in hybrid school buses made by IC Bus, a subsidiary of New York-quoted lorry and diesel engine-maker Navistar. Chief executive officer Mike Staran describes the deal as ‘a significant milestone’ for Enova, which says the agreement could generate $120 million (£63 million) revenues between now and 2010.

Shares in Enova, which doubled losses to £600,000 last year on a 451 per cent turnover surge to £850,000, more than doubled to 380p between December 2006 and April 2005, but fell back after that. They are up 20p today at 240p, valuing the company at £42 million and could fare better than some peers.

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Enova Systems Inc (Unrestricted)	AIM	£10.55m	60.00p	0.00p
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Enova clinches school bus deal			20/05/2008
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