Electric Vehicle Company Uses CoCreate to Design More Aerodynamic, Faster Electric Vehicles  

NEEDHAM, MA – April 19, 2010 – PTC (Nasdaq: PMTC), The Product Development Company®, today announced that DestinyParts, a provider of electric vehicles and associated parts, services and technology, is using CoCreate®, PTC’s explicit modeling software, to streamline its ability to test, refine and build electric vehicles.

From remote control hobbiest to today’s electric vehicle technologist, Kirk Swaney, founder, DestinyParts, has been a long time advocate of CoCreate software.  “DestinyParts is using CoCreate because it enables us to quickly respond to change requests from our customers,” said Swaney.  “CoCreate also allows us to model and refine design concepts before committing funds to a particular project, which gives us the chance to use that funding where it can drive the most benefit back into our business in order to be successful.”

CoCreate enables DestinyParts to build clear, concise models that can be communicated to other electric vehicle designers, fabricators and simulation experts.  This capability can minimize questions and delays throughout a prototyping process and enables DestinyParts to refine the models before they are built.  DestinyParts also uses CoCreate as an investigative tool to review and confirm customer change requests, reducing costs associated with multiple change requests.

DestinyParts expects significant growth for its business in the coming year, and the company plans to continue using CoCreate to design limited production versions of plush, sporty high-performance electric vehicles. 

“DestinyParts can rely on CoCreate to deliver a flexible, scalable design environment that can grow with the company’s business plans,” said Justin Teague, general manager, CoCreate business unit.  “CoCreate’s strength in supporting a rapid and dynamic design process, particularly in the concept development stage, enables DestinyParts to be an innovator in electric vehicle technology.” 

About DestinyParts

In business since 1999, DestinyParts offers products for competition and practical electronic vehicles that include motors, controllers, battery systems and more.  In addition, the company also builds turn-key, consumer-ready electric vehicles and offers gas to electric vehicle conversion services.  For more information on DestinyParts, please visit http://www.destinyparts.com.

About PTC  

PTC (Nasdaq: PMTC) provides discrete manufacturers with software and services to meet the globalization, time-to-market and operational efficiency objectives of product development.  Using the company’s PLM and CAD solutions, organizations in the Industrial, High-Tech, Aerospace and Defense, Automotive, Retail and Consumer, and Medical industries are able to support key business objectives and create innovative products that meet customer needs and comply with industry regulations. For more information on PTC, please visit http://www.ptc.com.

The announcement of any particular selection of PTC software is not necessarily indicative of the timing of recognition of revenue therefrom or the level of revenue for any particular period.  In addition, in many cases PTC’s software must be successfully implemented and deployed to enable the customer to achieve its business objectives. The announcement of a customer’s selection of PTC software does not indicate that applicable implementation and deployment activities are complete.

PTC and its logo, The Product Development Company, CoCreate, CoCreate Modeling, CoCreate Model Manager and all PTC product names and logos are trademarks or registered trademarks of Parametric Technology Corporation and/or its subsidiaries in the United States and in other countries.