Dr. Hikyu Lee, President and CEO of OLEV Technologies, Inc. said, "This project will demonstrate the overall effectiveness of using enroute-charging technology to create an effective 'electronic roadway', as well as the cost effective means of converting existing diesel buses into electric vehicles. We are delighted that our technology has been selected for funding to showcase the near-term and long-term benefits of electric buses via wireless power transfer technology, a zero emission green transportation solution."
According to Lee, this project will result in an annual greenhouse gas reduction of 289 tons of CO2, with a total reduction in CO2 of 3,455 tons over the lifetime of the operation of OLEV buses. Expected annual energy savings will amount to 2,596 Million BTUs, with a total 31,149 Million BTUs saved over the same period.
"Using the cutting edge technology to help our residents with transportation is very exciting," said McAllen Mayor Richard Cortez. "It is an honor to be selected for such a competitive grant, and we are very appreciative of our Congressman Henry Cuellar's efforts to secure these funds for McAllen. This is a big investment that will pay off for all of us," added Mayor Cortez.
KAIST initiated the R&D effort on OLEV in May 2009, and since then, various prototype vehicles including bus, sedan, SUV, and tram have been built and demonstrated. Upon successful completion of field tests, three on-line electric trams are commercially operating at a theme park in Seoul, South Korea, since July 2011. The fully electric tram, consisting of three cars, can carry up to 100 passengers per ride.
|Contact: Lan Yoon|
The Korea Advanced Institute of Science and Technology (KAIST)