ODYC Odyne Corporation (CE)

Odyne Corporation (OTCBB:ODYC), the leading developer of advanced Plug-In Hybrid Electric Vehicle (PHEV) Technology, announced today that the City of Fresno has held a press conference to debut and demonstrate the World�s First Compressed Natural Gas Refuse Vehicle equipped with Odyne's PHEV technology. The event was held on May 15th, at the Woodward Park Amphitheater, in Fresno, California. In attendance at the event were Fresno Public Utilities Director, Rene Ramirez, Fresno Council of Governments Planner, Jason Paukovits, and City of Fresno Deputy Mayor, Jeff Eben, who acknowledged the City of Fresno�s Department of Public Utilities for their extensive legwork necessary to accomplish the project. Mr. Eben stated, �This truck is part of a citywide energy conservation strategy. There is an expected 90% reduction in smog-forming emissions.� Also on hand was Odyne Executive Vice President, Gus Sfakianos, who stated, �Fresno�s enthusiasm and desire for clean alternative fuels and Plug-In hybrid systems has lead the way for the deployment of the world's first Plug-In CNG Refuse Collection Vehicle. Four years ago, when the rest of the country was trying to understand the future potential and advantages of a Plug-In Hybrid, the City of Fresno, with its environmentally progressive staff, wrote a specifications document for just such a vehicle. Odyne responded by developing a rechargeable electric hybrid drive system, that has become part of a citywide energy conservation strategy, which will also serve to improve air quality.� Alan Tannenbaum, CEO of Odyne Corporation comments, "We are excited to work with the City of Fresno, a city that has taken a leadership role in transitioning towards cleaner, more fuel efficient technologies. It took time to get started and even longer to complete, however, the vehicle is finally operational and fully proven.� This Refuse Collector has a 10 mile engine-off, zero-emissions driving mode of operation, and has the ability to plug into the grid, fully recharging its batteries and offsetting its fuel consumption. It consumes clean CNG fuel as opposed to diesel, making it the first�Plug-in Hybrid Electric Vehicle (PHEV) CNG Refuse Collection Truck. The vehicle will quietly navigate through residential neighborhoods, collecting trash, while not polluting the environment and not consuming imported fuels. Odyne believes that this is the product of the near future and Fresno has set the standard for other cities to follow. Odyne's plug-in hybrid electric vehicle (PHEV) powertrain and battery control technology enables buses and trucks to operate more efficiently. By plugging the vehicle into the grid, which may be done at low-cost, off-peak hours, the operator substitutes electricity for more expensive vehicle fuel, displacing the imported oil used in diesel or gasoline powered vehicles, and reduces emissions; the hybrid technology provides increased fuel efficiency, and lower maintenance expenses. 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.