Archive for the ‘Odyne Corporation ODYC’ Category

Odyne Corporation (ODYC.OB) Completes Private Placement of Unregistered Shares

Friday, March 28th, 2008

Odyne Corp., a clean technology company that develops and manufactures propulsion systems for advanced Plug-in Hybrid Electric Vehicles (PHEV), announced that it has wrapped up a $7 million private placement to fund working capital requirements.

The Quercus Trust, a lead investor in the private placement, partook in Odyne’s October 2007 convertible debenture financing. Odyne will utilize the net earnings of the financing for its working capital and capital expenditure requirements.

Alan Tannenbaum, CEO of Odyne Corporation said, “This financing significantly enhances our working capital position and represents a major step forward in the execution of our business plan. We have three main product lines: PHEV systems for refuse and recycling trucks; PHEV systems for shuttles and buses; and a PHEV system for aerial lift trucks for utility maintenance that has been designed for Dueco Inc. Our objective for 2008 is to deliver reliable, efficient PHEV systems for these platforms. We expect a significant jump in the delivery of our systems in 2008 and this financing allows us to fund that growth.”

Accredited investors purchased shares of Odyne common stock at $0.60 per share, with five-year warrants allowing them to purchase a corresponding number of shares of common stock at an exercise price of $0.72 per share, subject to certain anti-dilution provisions.

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Odyne Corp. (ODYC.OB) Offers much Promise for the Future

Monday, June 4th, 2007

Odyne’s hybrid propulsion systems can be installed in new gasoline and diesel powered trucks and busses, as well as existing vehicles. The systems have been proven to reduce fuel consumption, maintenance costs, and exhaust emissions.

The new Federal regulations requiring reduced emissions have rapidly expanded the market for hybrid vehicles as the government strives to reduce foreign oil imports.

Many of the power components in Odyne’s system are made by well known industrial manufactures, which allows customers to buy spare parts easily from standard distributors.

There is much potential for this company as it makes decisions to please their customers, and consequently expands its customer base.

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Odyne Corporation (ODYC.OB) Shifts Focus to Reducing Idling Time with its Plug-In Design for Aerial Truck Application

Thursday, May 31st, 2007

Odyne Corporation (ODYC.OB) shifts Plug-In design for  its Aerial Truck Application to focus on reducing idling time.

ODYC is working with Dueco, Inc. to develop  a proprietary plug-in hybrid electric vehicle propulsion system optimized for aerial lift truck applications. Instead of applying the serial-hybrid architecture used in its other platforms, however, Odyne is shifting focus for the aerial truck application, and concentrating instead on reducing truck idling time rather than delivering electric driving range.

As a result, the plug-in will use a mild-parallel hybrid drive—Odyne’s first implementation of such—with a robust battery pack.

According to Roger Slotkin, Odyne’s CEO, the fuel consumption problem faced by most users of aerial lift trucks (e.g., utility trouble trucks) isn’t the driving, it’s the idling. Aerial trucks tend to be stationary for most of their 8-10 hour missions, burning between 0.8 to 1 gallon of fuel per hour while idling just to keep power flowing.

Odyne therefore is concentrating on delivering a system that will support an all-electric stationary mission, resulting in approximate fuel savings at current pricing of between $8,000 and $9,000 per year, mainly by cutting out the idling.

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Odyne Corporation (ODYC.OB) Secures Purchase Order from DUECO for Propulsion System for Hybrid Aerial Lift Truck

Wednesday, May 30th, 2007

Odyne Corporation (ODYC.OB) reports that DUECO, Inc., has issued a purchase order to Odyne for installation of Odyne’s propulsion technology into an aerial lift truck which will be displayed at the International Construction and Utility Equipment Exposition (ICUEE) on October 16 – 18 in Louisville, Kentucky.

Odyne and DUECO had entered into an exclusive agreement earlier this month whereby DUECO and Odyne will develop and install proprietary plug-in hybrid electric vehicle propulsion systems optimized for aerial lift truck applications.

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Odyne Corp. (ODYC.OB) Receives Purchase Order and Will Display Completed Project at One of the Largest Tradeshows in the Country

Wednesday, May 30th, 2007

DUECO, Inc. has submitted a purchase order for the installation of Odyne’s propulsion technology in one of their aerial lift trucks. The completed project will be displayed at the International Construction and Utility Equipment Exposition (ICUEE) in Louisville, Kentucky.

The exposition attracts approximately 17,000 industry professionals, and allows attendees to test the equipment on display. There are 40 educational classes also available for visitors to discover the latest developments in the industry.

The CEO of Odyne, Roger Slotkin, stated, “It’s been less than a month since we established a relationship with DUECO and we are excited about installing our propulsion technology into their TL50M material handling bucket truck that will be displayed at the exposition. This affords us the opportunity to feature our technology to a very large audience with an appreciation and need for the solutions Odyne can provide.”

The CEO of DUECO expressed his excitement as the company waits in anticipation to use their first vehicle equipped with Odyne’s technology. He is confident that the displayed vehicle will be accepted very favorably at the exposition.

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Odyne Corp. (ODYC.OB) Hybrid Technology is Extremely Efficient without Sacrificing Power

Monday, May 28th, 2007

Internal combustion engines have low efficiency when operating at a low RPM. This causes the vehicle to use a larger amount of fuel when accelerating from rest. This difference is best illustrated by the contrast between City MPG and Highway MGP.

Many people believe that electric and hybrid vehicles are impractical because of low top speeds and long charge times, but both of these misperceptions are not true. Odyne’s technology can accelerate a bus loaded with passengers just as fast as a gasoline or diesel powered engine.

Hybrid vehicles use an electric motor to accelerate to cruising speeds, then switches to a combustion engine once the cruising speed it reached. This allows both engine technologies to maximize their potential at the ranges they are most efficient.

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Odyne Corporation (ODYC.OB) Teaming with Creative Bus Sales, Inc., the Nation’s Largest Commercial Bus Dealership

Sunday, May 27th, 2007

Odyne Corporation (ODYC.OB), a leading developer of advanced plug-in hybrid electric vehicle (PHEV) technology for trucks and buses, reported earlier this month, an alliance with Creative Bus Sales, Inc., the nation’s largest commercial bus dealership. 

Roger M. Slotkin, CEO of Odyne Corporation, commented, “We are excited to partner with Creative Bus Sales, as it opens up an important new sales channel for Plug-In Hybrid Electric Buses containing our propulsion system technology.

Creative’s installed customer base consists of municipalities and private bus companies around the country, and Creative has earned a reputation for quality and service over the years. Creative sells both new and used buses, affording us the opportunity to market retrofitting in used buses or installation of our technology into new ones.”

Mr. Slotkin continued, “While our partnership with Creative Bus Sales is focused on sales to the end-users, Creative is also the single largest customer for many of the leading bus manufacturers around the country–providing us an attractive platform to educate the OEMs on the benefits and cost savings associated with our technology.”

Odyne Corporation is a clean technology company that develops and manufactures propulsion systems for advanced Plug-in Hybrid Electric Vehicles (PHEV), specifically medium and heavy-duty trucks and buses.

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Meyers Associates Projects a Price Target of $5 for Odyne Corp. (ODYC.OB)

Friday, May 25th, 2007

Robert M. LeBoyer, Senior Biotechnology Analyst of Meyers Associates, gave Odyne an “Outperform” rating with a price target of $5 which is expected to be reached in the next 52 weeks.

The new Environmental Protection Agency regulations are one of the driving factors influencing the alternative energy vehicle market. The Research Firm believes that hybrid cars will partake in a significant market share of the growing market.

Odyne’s system of charging car batteries is favored by the Federal Government, as the U.S. strategically reduces the dependence on foreign oil imports.

The company has already begun working with manufactures to install their systems on buses and trucks. In the future, Odyne plans to sell its PHEV system to vehicle manufactures such as Chevrolet, Ford, and Toyota.  This plan parallels Intel’s strategy of putting CPUs in many different manufactured computers.

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An Emerging Firm Focused on Hybrid Electric Drive Systems for Commercial and Industrial Vehicles

Friday, May 25th, 2007

Odyne Corporation (ODYC.OB) is an  emerging firm focused on Hybrid Electric Drive Systems for Commercial and Industrial vehicles.

Odyne’s proprietary technology includes both manufactured parts, the control systems, and control software.  The systems are highly efficient, cost effective, affordable, and user friendly.  Analysts consider this to provide a sustainable advantage and will differentiate the company in a growing marketplace.

Odyne has begun to work with manufacturers to install systems as original equipement on buses and truck bodies.  Over time, ODYC  can manufacture and sell its system components to the vehicle manufacturers who will offer them in new vehicles sold to fleet owners for a potential added revenue stream.

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Odyne Corp. (ODYC.OB) Offers Many Advantages to those Using Their Plug-in Hybrid Electric Vehicle (PHEV) Drive Systems

Friday, May 25th, 2007

Both businesses and consumers can benefit from Odyne’s PHEV drive systems. Advantages include: emissions are substantially reduced, operating costs are reduced up to 65%, vehicle life is extended, and any battery chemistry is optimized.

The support for Hybrid vehicles is growing fast. The Freedonia Group predicts that the worldwide demand for these fuel-saving vehicles will increase rapidly to 3.9 million units in 2015, and then nearly double that number by 2020. Odyne is in a great market sector to grow in.

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Hybrid Vehicles are the Key for Odyne Corporation (ODYC.OB), as an Alternative Energy Company

Friday, May 25th, 2007

Odyne Corporation (ODYC.OB) has received a “BUY” rating from the equity research firm, Meyers Associates.

Odyne is a company that is operating in a critical industry sector, alternative energy and energy conservation. The company makes plug-in hybrid electric drivetrain systems for medium and heavy fuel consuming trucks. These systems can be installed on new or existing gasoline or diesel powered vehicles to increase fuel economy, reduce maintenance costs, and reduce exhaust emission.

As an alternative energy company, ODYC has been able to obtain funding from Federal and State programs aimed at reducing energy consumption.

ODYC is a Company with a great product.

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Shares of Odyne Corporation (ODYC.OB) Advanced 4.62 % Today, As Company Moves to Increase its Visibility

Wednesday, May 23rd, 2007

Odyne Corporation (ODYC.OB) is a developer of Plug-In Hybrid Electric Vehicle (PHEV) power trains for Class 6,7 and 8 vehicles.

Odyne is working with vehicle manufacturers, vehicle retrofitters and fleet operators who use heavy-duty vehicles that weigh in excess of 20,000 pounds that are used in applications with frequent starts and stops.

Conventionally powered vehicles used in these applications are generally fuel inefficient and contribute a disproportionate amount of pollution. By applying Odyne’s PHEV technology to vehicles that fit this profile, transit buses, school buses, garbage trucks and others, operators can reduce fuel consumption, emissions and brake wear.

Odyne’s core competency is in control and power electronic circuit design, development, production and the integration of this technology with reliable and cost effective off-the-shelf technologies.

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Odyne Corp. (ODYC.OB) Provides Audio and Slide Presentation of Recent Conference

Wednesday, May 23rd, 2007

Odyne released a PR today with a link to Roger M. Slotkin’s recent presentation at the Merriman Curhan Ford 3rd Annual Next-Generation Energy Conference in New York. The presentation can be found at their website under the “Investor Relations” tab.

The company develops and manufactures propulsion systems for advanced Plug-in Hybrid Electric Vehicles, and also develops a propriety system combining electric power conversion, power control and energy storage technology, which has been shown to lower fuel costs, operation costs, maintenance costs, and substantially lower emissions.

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Odyne Corporation (ODYC.OB) Rated “Outperform” by Research Firm

Wednesday, May 23rd, 2007

Odyne Corporation has received the rating of “Outperform”  by the equity research firm, Meyers Associates.

Odyne Corporation (ODYC.OB) is a development stage company producing hybrid electric drive systems for commercial and industrial vehicles. The Company has a unique product offering with strong benefits to customers that should lead to significant market share in an expanding market. The market for this type of drive system should continue to grow due to Federal clean air regulations and local environmental policies.

Odyne recently received an order from the City of Fresno for a Mobile Power System utilizing components of its PHEV system that will be used by the City in its fleet maintenance program.

Also Odyne recently received a contract for additional funding from the New York State Energy Research and Development Authority (NYSERDA) to further develop its PHEV system.

These two contracts when combined with the previously announced programs for the Town of Oyster Bay and Keyspan Energy represent $669,000 in revenue and R&D funding.”

Roger Slotkin, CEO of Odyne commented, “These contracts are strong indications of the rapidly developing market for advanced plug-in hybrid powertrain systems. As the first hybrid powertrain developer for medium and heavy-duty vehicles to offer plug-in capability, Odyne has positioned itself to capture a meaningful portion of this burgeoning market.”

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Odyne Corporation (ODYC.OB)

Tuesday, May 22nd, 2007

Odyne Corporation, ODYC, is a clean technology company, designs, develops, manufactures, and installs plug-in hybrid electric vehicle (PHEV) propulsion systems for medium and heavy duty trucks and buses in the United States. The company, by integrating its proprietary electric power conversion, electric power control, and energy storage systems with a range of off-the-shelf components that include electric motors and storage batteries, offers PHEV components and a series of PHEV propulsion system configuration products for electric vehicles and hybrid electric vehicles. Odyne Corporation also jointly manufactures and sells plug-in hybrid electric buses and trucks with original equipment manufacturers of bus and truck bodies, including ground-up builds and modifications of existing vehicles. The company was founded in 2001 and is headquartered in Hauppauge, New York.