What’s the big deal with hybrid vehicles? That was the question on everyone’s mind a few years ago when gas prices weren’t so outrageous, and we all looked at a car’s horsepower instead of its miles per gallon. Oh my how $3 gas can change the mindset of consumers and manufacturers. Now almost all the car makers – including General Motors Corporation (NYSE: GM), Ford Motor Co. (NYSE: F) and Daimlerchrysler AG (NYSE: DCX) – have hybrid models.
One smallcap company looking to capitalize on a niche within this booming trend is Odyne Corporation (OTCBB: ODYC) with its advanced plug-in hybrid electric vehicle technology for trucks and buses. Odyne’s plug-in technology provides much of the energy that is used to operate the truck loads during stationary operation from the power grid.
The company’s drive system is designed to minimize fuel use and emissions in a typical aerial truck mission; these vehicles are generally dispatched to a work area and then spend several stationary hours at a site while repair or installation tasks are completed. In a conventionally powered aerial truck, the engine is idling during this stationary period to provide power for the aerial lift, power tools, lights and other auxiliary loads that are required by the work crew.
The Odyne system will provide the fuel efficiency and emission enhancements typical of a hybrid vehicle while the truck is traveling to and from the work site and will allow the engine to be shut off during most of the stationary operation. This results in fuel savings, noise and emission reductions during the work period.
The company recently received a purchase order from DUECO Inc. for installation of Odyne’s propulsion technology into an aerial lift truck which will be displayed at the International Construction and Utility Equipment Exposition on October 16 – 18 in Louisville, Kentucky. Odyne and DUECO had entered into an exclusive agreement earlier this month whereby DUECO and Odyne will develop and install proprietary plug-in hybrid electric vehicle propulsion systems optimized for aerial lift truck applications.
Roger M. Slotkin – CEO of Odyne – commented in a press release, “It’s been less than a month since we established a relationship with DUECO and we are excited about installing our propulsion technology into their TL50M material handling bucket truck that will be displayed at the exposition.”
Odyne could definitely be in for quite a run if they are able to capitalize on this untapped niche. Just think of all the fuel/energy that could be saved from construction equipment, school buses and utility trucks having their engines shut off during stationary operation. All we can do is wait and see if truck, bus and heavy equipment manufactures buy into this new technology.