Enersys, the world's largest industrial battery manufacturer and a leader in stored energy solutions will supply Odyne Corporation with Genesis® pure lead batteries for its plug-in hybrid electric vehicles as Odyne ramps up production.
HAUPPAUGE, N.Y.-- April 25 -Odyne Corporation (OTCBB:ODYC - News), the leading developer of advanced plug-in hybrid electric vehicle (PHEV) technology for trucks and buses, today announced a strategic supplier agreement with EnerSys (NYSE:ENS - News), the world's largest industrial battery manufacturer and a leader in stored energy solutions. EnerSys will supply Odyne Corporation with Genesis® pure lead batteries for its plug-in hybrid electric vehicles as Odyne ramps up production.
The Genesis pure lead batteries provide a very high rate discharge capability, and are suitable for long duration standby. With very low self discharge rate, high venting pressure and greater than 99.7% recombination efficiency, Genesis pure lead batteries are designed for long reliable service, even in extreme environments. Genesis pure lead batteries are very durable, have a long shelf life, and are well suited for Odyne's Plug-In Hybrid Electric vehicles that are frequently starting, stopping and have long idle times.
Roger M. Slotkin, CEO of Odyne, stated, "As battery technology advances and the price points improve, the advantages of plug-in hybrid technology are becoming more and more apparent. Utilizing a series architecture and our proprietary battery management technology, we can now reduce fuel cost for fleet operators by over 65 percent per mile when running the vehicle directly off a battery array that is charged by the regional electric power grid at nighttime off-peak rates. Our strategic relationship with EnerSys will help ensure a steady supply of batteries and provide even more attractive pricing for our customers."
Genesis is a registered trademark of EnerSys and its affiliates and is used with permission.
About Odyne Corporation
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. The company has developed a proprietary system combining electric power conversion, power control and energy storage technology, with standard electric motors, storage batteries and other off the shelf components to create a lower fuel cost, lower operation and maintenance cost, substantially lower emission and quieter vehicle. Odyne's PHEV systems are series configuration hybrids with significant advantages over the parallel architecture used in hybrid passenger cars. Visit www.odyne.com for more information.
EnerSys, the world leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries as well as chargers, power equipment and battery accessories to customers worldwide. With a strong commitment to innovation, EnerSys has developed a broad spectrum of technologies including lead-acid, specialty nickel based and lithium ion batteries. The company's reserve power batteries are used in numerous applications requiring standby power. Several types of commercial electric powered vehicles employ its motive power batteries, and EnerSys' premium batteries are utilized in a wide variety of motor vehicle, power sports and recreational vehicles. The company also provides aftermarket and customer support through its global sales and manufacturing network. More information regarding EnerSys can be found at www.enersys.com.
This news release contains certain "forward-looking statements," related to the business of Odyne which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development and commercialization, regulatory actions or delays, the ability to obtain or maintain patent and other proprietary intellectual property protection, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the U.S. Securities and Exchange Commission. Odyne is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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David K. Waldman / Klea Theoharis
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Andrew Lavin, 212-290-9540