Allison Transmission purchases equity stake in Odyne Systems
04 July 2012
Allison Transmission Inc. (NYSE: ALSN), 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 has been a leader in hybrid-propulsion technology since the early 1990s. During that time, Allison developed hybrid propulsion systems for city buses, which went into production in 2003. By the end of 2011, city buses equipped with the Allison H 40/50 EP hybrid system were operating in 230 cities worldwide. It has been estimated that these vehicles have saved over 26 million gallons of diesel fuel (99 million liters) and prevented over 259 metric tons of carbon dioxide from being emitted into the atmosphere.
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.