Odyne Corporation Established Production Outlook for 2008
April 03 2008 - 3:13PM
Business Wire
Odyne Corporation (OTCBB:ODYC), a leading developer of advanced
Plug-In Hybrid Electric Vehicle (PHEV) Technology, yesterday held
its an Investor Conference Call and Webcast to review the company�s
financial performance for 2007 and to deliver the management
outlook for 2008. The Conference Call was hosted by Odyne�s CEO,
Alan Tannenbaum, on Wednesday, April 2nd, at 1:30 pm, Eastern Time.
A recording can be accessed via a link to the webcast, which is
available on the company�s website, www.odyne.com. First discussed
was Odyne�s partnership with Dueco, Inc., a leading manufacturer of
vehicles for the utility industry. �An order for 25 PHEV systems
was announced in December of 07,� Tannenbaum said, �it is a
critical validation of our technology.� He followed by saying that
Odyne has �delivered kits in the first quarter of 08 and expects
deliveries to accelerate through the year.� He ended that segment
remarking that �we are very excited and proud of our project with
Dueco.� Mr. Tannenbaum went on to discuss the range of products
Odyne delivered in 2007. �We believe these sales demonstrate the
flexibility of our technology and its application to a variety of
formats and fuel sources,� he said. Then outlined was the company�s
strategic plan to deliver plug-in hybrid electric drive systems
rather than vehicles. �We are concentrating on selling our
proprietary technology to OEMs and truck and bus manufacturers.
While we will continue to sell and upfit vehicles as we validate
our technology in different applications, selling kits ultimately
yields a variety of benefits for Odyne,� stated Mr. Tannenbaum. Mr.
Tannenbaum announced that Odyne has an objective to deliver 40 PHEV
systems in 2008. He concluded with a discussion of the positive
margin implications of the strategic refocus. The conference call
concluded with a series of investor questions. 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 that enables vehicles
to have lower fuel, operating and maintenance costs with
substantially lower emissions. Visit www.odyne.com for more
information. Forward-Looking Statements 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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