Allison Transmission Purchases Equity Stake in Odyne Systems
New relationship between Allison and Odyne will benefit commercial hybrid trucks with urban drive cycles and high energy requirements while the vehicle is stationary.
Waukesha, WI, July 2, 2012 – Allison Transmission Inc, the world’s largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles and hybrid-propulsion systems for city buses, today announced it has invested in a non-controlling equity stake in Odyne Systems, LLC. Odyne, a leading manufacturer of advanced hybrid control systems, designed and developed an innovative plug-in hybrid power system which interfaces with the Allison family of commercial vehicle transmissions. The new relationship between Allison and Odyne will directly benefit hybrid vehicle operators in vocations such as utility bucket trucks, digger derricks, cranes and other applications that require worksite stationary power.
“Odyne Systems’ expertise and experience in the development and manufacture of advanced hybrid control systems made them an attractive partner,” said Lawrence E. Dewey, Chairman, President and CEO of Allison Transmission. “Fundamentally, I believe commercial vehicle operators who require a clean and sustainable stationary power source will appreciate the features and benefits that Odyne and Allison bring to the industry.”
Joe Dalum, President of Odyne Systems, said, “This relationship between Allison and Odyne brings together two leading companies focused on enhancing the performance and efficiency of the overall powertrain. Our solutions help companies and communities meet sustainability objectives, lower costs and reduce worksite noise. It also becomes especially relevant with today’s varying fuel prices and the drive to reduce emission levels.”
Allison Transmission is one of the most recognized brands in the industry as a result of performance, reliability, quality and fuel efficiency. Globally, in 2011, Allison Transmission sold an estimated 62 percent of all fully-automatic transmissions in the markets it serves. A leader in plug-in hybrid technology, Odyne has developed proprietary and patented hybrid technology combining reliable electric power conversion, power control and energy storage technology with advanced electric propulsion motors, modular battery systems and other components. Sold through a worldwide distribution network, the Odyne plug-in hybrid drive system can be installed on a wide variety of new and existing vehicles to reduce fleet operating and maintenance costs, and depending on duty cycle, to enable large trucks to obtain fuel economy improvements of up to 50% or greater, compared to traditional diesel engines. The systems also lower emissions and operate quietly at the job site. Johnson Controls is the exclusive supplier of lithium-ion batteries for Odyne Hybrid Power systems.
About Odyne Systems, LLC Odyne is a leader in hybrid drive systems for medium and heavy duty vehicles. Odyne’s advanced plug-in hybrid technology enables trucks over 14,000 pounds to have substantially lower fuel consumption, lower emissions, improved performance, quieter job site operation and reduced operating and maintenance costs. Odyne has fielded more plug-in hybrid systems for work trucks to fleets throughout the United States than any other supplier. The company sells its unique modular hybrid system for new and retrofit applications direct to truck manufacturers and through a global distribution and service network. The name Odyne represents the combination of “O” for optimal and “dyne” for force. Odyne’s hybrid system for medium and heavy duty trucks represents the best hybrid power solution for large trucks. For further information, visit us at www.odyne.com and follow us on Twitter @Odyne.
About Allison Transmission Allison Transmission is the world’s largest manufacturer of fully-automatic transmissions for medium- and heavy-duty commercial vehicles, medium- and heavy-tactical U.S. military vehicles and hybrid-propulsion systems for transit buses. Allison transmissions are used in a variety of applications including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (primarily school and transit), motor homes, off-highway vehicles and equipment (primarily energy and mining) and military vehicles (wheeled and tracked). Founded in 1915, the Allison business is headquartered in Indianapolis, Indiana, U.S.A. and employs approximately 2,800 people. Allison has manufacturing facilities and customization centers located in China, The Netherlands, Brazil, India and Hungary, with a global presence, serving customers in North America, Europe, Asia, Australia, South America and Africa. Allison also has more than 1,500 independent distributor and dealer locations worldwide. More information about Allison is available at www.allisontransmission.com.