Odyne Corporation has received the rating of “Outperform” by the equity research firm, Meyers Associates.
Odyne Corporation (ODYC.OB) is a development stage company producing hybrid electric drive systems for commercial and industrial vehicles. The Company has a unique product offering with strong benefits to customers that should lead to significant market share in an expanding market. The market for this type of drive system should continue to grow due to Federal clean air regulations and local environmental policies.
Odyne recently received an order from the City of Fresno for a Mobile Power System utilizing components of its PHEV system that will be used by the City in its fleet maintenance program.
Also Odyne recently received a contract for additional funding from the New York State Energy Research and Development Authority (NYSERDA) to further develop its PHEV system.
These two contracts when combined with the previously announced programs for the Town of Oyster Bay and Keyspan Energy represent $669,000 in revenue and R&D funding.”
Roger Slotkin, CEO of Odyne commented, “These contracts are strong indications of the rapidly developing market for advanced plug-in hybrid powertrain systems. As the first hybrid powertrain developer for medium and heavy-duty vehicles to offer plug-in capability, Odyne has positioned itself to capture a meaningful portion of this burgeoning market.”
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