As per the new transactions, Johnson Controls has made a strategic investment in Odyne to fund expansion and to accelerate wide-scale commercialization of Odyne’s hybrid systems for medium and heavy duty work trucks.
In addition, Johnson Controls-Saft will be a Preferred Supplier of advanced lithium-ion battery systems for Odyne’s plug-in hybrid system.
Odyne said the company’s modular system can be deployed on new and existing vehicles to reduce fuel consumption, lower emissions and operate quietly at the job site.
Odyne president and CEO Joe Dalum said the strategic investment and supply agreements will help Odyne continue to expand its business and advance hybrid technology for medium and heavy duty trucks to greater levels of efficiency.
"This is the first phase of a multi-stage investment on the part of JCI and is in line with a broader investment and growth strategy at Odyne," Dalum said.
Odyne also said the company has developed the hybrid technology combining reliable electric power conversion, power control and energy storage technology with Remy electric propulsion motors, modular Johnson Controls-Saft battery systems and other automotive quality components.
Odyne is engaged in development and sale of hybrid drive systems for medium and heavy duty vehicles.
