Odyne Systems, LLC and Johnson Controls Inc. have completed an investment agreement and a long-term hybrid master supply agreement.
Under the new agreements, 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.
Additionally, Odyne designates Johnson Controls-Saft as a “Preferred Supplier” of advanced lithium-ion battery systems for its plug-in hybrid system.
The Odyne plug-in hybrid system significantly increases a large truck's efficiency through operation of the hybrid system on the road and use of the large battery system at the job site. Odyne’s modular system can be installed on a wide variety of new and existing vehicles to reduce fuel consumption, lower emissions and operate quietly at the job site.
"The strategic investment and supply agreements between Johnson Controls and Odyne will help us continue to grow our business and advance hybrid technology for medium- and heavy-duty trucks to greater levels of efficiency,” said Joe Dalum, President and Chief Executive Officer of Odyne Systems. “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. Johnson Controls shares our passion for innovation and delivery of reliable, advanced hybrid system solutions, and we look forward to the new partnership.”