Odyne Systems Announces Agreements With Johnson Controls
Odyne Systems, LLC, a specialist in hybrid systems for medium and heavy duty trucks, and Johnson Controls Inc. (JCI) have completed both an investment agreement and a long-term hybrid master supply agreement. Under the new agreements, Johnson Controls has made a strategic investment in Odyne to fund expansion and to accelerate wide-scale commercialization of Odyne’s hybrid systems for medium and heavy duty work trucks. Additionally, Odyne designates Johnson Controls-Saft as a "Preferred Supplier" of advanced lithium-ion battery systems for its plug-in hybrid system.
This partnership between Johnson Controls and Odyne brings together two companies focused on developing and selling solutions that help companies and communities meet sustainability objectives and reduce costs. Odyne says its plug-in hybrid system significantly increases a large truck’s efficiency through operation of the hybrid system on the road and use of the large battery system at the job site. Odyne’s modular system can be installed on a wide variety of new and existing vehicles to reduce fuel consumption, lower emissions and operate quietly at the job site.
"The strategic investment and supply agreements between Johnson Controls, the world’s leading battery producer, and Odyne, the leading plug-in hybrid system supplier for large trucks, will help us continue to grow our business and advance hybrid technology for medium and heavy duty trucks to greater levels of efficiency," said Joe Dalum, President and Chief Executive Officer of Odyne Systems. "This is the first phase of a multi-stage investment on the part of JCI and is in line with a broader investment and growth strategy at Odyne. Johnson Controls shares our passion for innovation and delivery of reliable, advanced hybrid system solutions, and we look forward to the new partnership."
Odyne has developed proprietary and patented hybrid technology combining reliable electric power conversion, power control and energy storage technology with Remy advanced electric propulsion motors, modular Johnson Controls-Saft battery systems and other robust, automotive quality components. Sold through a worldwide distribution network, Odyne says its plug-in hybrid drive system reduces fleet operating and maintenance costs, and depending on duty cycle, enables large trucks to obtain fuel economy improvements of up to 50% or greater, compared to traditional diesel engines.