Monday November 26, 2012 0 comments
LOVELAND - Lightning Hybrids will install and maintain its hydraulic drive systems on two Loveland city transit buses under an agreement reached with the Loveland City Council, according to a story by Craig Young in the Loveland Reporter-Herald.
The story said Lightning Hybrids - which has developed a technology that saves the energy created by braking and uses it to help a vehicle accelerate - is providing the systems to pay back the city money it received in 2009 to help launch the company.
Lightning still owed the city $28,000 of a $50,000 cash investment based on the company creating 25 primary jobs within a prescribed time frame, the story said.
Rather than return the $28,000, Lightning Hybrids and the city agreed to have the drive systems installed. The new systems are expected to be installed in both buses by mid-January, the story said.
Lightning Hybrids said it estimated the systems will save between 25 and 30 percent on fuel costs, according to the Reporter-Herald.