REDWOOD SHORES, Calif., June 17 /PRNewswire/ -- GreenRoad, the world's leader in driver safety and efficiency, today announced it received the 2010 Technology Innovation and Green Excellence of the Year Award from Frost & Sullivan. GreenRoad was selected for its ground-breaking use of technology to improve the sustainability of fleets and reduce emissions from vehicles across the globe.
GreenRoad has responded to the global challenge of rising vehicle crashes and need for CO2 reduction, by developing a comprehensive technology-based service to measure and improve driver behavior. The company's products help customers reduce harm to the environment, resources spent towards vehicle repair, and the loss of lives, in the event of a crash. It targets driving behavior as the single biggest variable in a vehicle and helps people learn and change their driving habits, and in this lies its uniqueness.
"We think being green should be simple and cost-effective, rather than expensive and complicated," said Dan Steere, CEO of GreenRoad. "So we take great pride in Frost & Sullivan recognizing our innovative and easy-to-implement technology and services combined with our commitment to sustainability."
GreenRoad's innovative approach to maximizing driver efficiency is transforming the way the industry views sustainability as well as safety. Its proprietary technology-based service, GreenRoad 360™, provides drivers and fleet managers with real-time, comprehensive feedback, analysis, reporting and coaching on their abilities, maneuvers and patterns. As a result, GreenRoad 360 positively impacts both conscious and unconscious driving behaviors -- the key to creating more fuel-efficient and safer drivers.
A typical GreenRoad customer sees up to a 10% reduction in fuel-consumption and emissions immediately. Furthermore, GreenRoad improves fleet sustainability by reducing crash costs by an average of 50%.
"18 million tons of vehicles go into landfills in the US and European Union every year," said Dan Steere. "If we can measurably reduce that number, we're making a major environmental impact."
GreenRoad also provides fleets with a cost-effective and practical way to go green. In contrast to purchasing expensive new vehicles, GreenRoad offers fleets a low-cost way to immediately reduce emissions. For example, a 1,000-vehicle fleet would have to purchase 225 new hybrid vehicles at a cost of $2 million to get the same CO2 reduction it can achieve by installing GreenRoad 360 in all its vehicles, while actually saving money.
About the Award
The Frost & Sullivan Green Excellence Award in Product Innovation is presented to a company that has demonstrated unique product design and development initiatives, which is aligned with a sustainable and environmentally conscious objective within its industry sector. This Award signifies the company's identification of a unique and revolutionary solution with significant environmental benefits, while presenting tremendous market potential simultaneously. Moreover, the Award also signifies that the company's overall business strategy is sound and poised for success.
About Frost and Sullivan
With 1800 analysts, consultants and visionaries who cover more than 300 markets and 250,000 companies, Frost and Sullivan helps their clients accelerate growth and develop best practice levels in innovation and leadership. Frost and Sullivan enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. Frost and Sullivan's global offices provide their clients with both local service and a global perspective on all of their growth strategy development and implementation needs.
GreenRoad delivers the future of driving: smarter, safer and more fuel efficient. We offer the industry's most sophisticated, customizable technology solutions and services to maximize driving safety and efficiency, generating immediate cost savings. GreenRoad 360™ provides real-time feedback integrated with comprehensive online visibility. We engage drivers on an ongoing basis to deliver lasting improvement to driver and fleet performance. The company is headquartered in Redwood City, California, with offices throughout the US and UK, and Israel. Investors include Benchmark Capital, Virgin Green Fund, Amadeus, Balderton Capital, DAG Ventures and Generation Investment Management LLP. For more information, GreenRoad.