Remy International Formalizes Long-Term Supply Agreement With Odyne Systems, LLC

PENDLETON, Ind., May 25, 2011 /PRNewswire/ -- Remy Electric Motors, LLC, North America's largest independent manufacturer of advanced electric propulsion motors, and Odyne Systems, LLC, a leading manufacturer of hybrid systems for medium and heavy duty trucks, have signed a long term motor supply agreement. Under the new agreement, Odyne will use Remy's HVH250 electric motors in their plug-in hybrid system, which increases a large truck's on-road fuel efficiency, provides launch assist and regenerative braking. Once stationary at the jobsite, work trucks are able to use Odyne's hybrid system to operate worksite applications without using engine power.

Remy Electric Motors VP/General Manager Kevin Quinn said, "The integration of Remy's electric motor into Odyne's system demonstrates the power and flexibility of our HVH motor. It can power a vehicle, act as a generator and can provide auxiliary power.  With over a billion miles of proven reliability and power on the road, we are delighted our Remy electric motors will now provide that same durability and efficiency for Odyne's plug-in hybrid system."

Remy's patented High Voltage Hairpin (HVH) technology's world-class torque and power density deliver added speed and range to electric vehicles through direct and regen power.  Companies like GM, BMW, Allison Transmission, AMP Electric Vehicles and Aptera use the Remy HVH electric motor for its superior technology, reliability and the speed to market that comes with Remy's existing global production capacity.  

"This partnership between Remy and Odyne brings together two innovative companies whose technologies will deliver better performance for medium and large work vehicles," said Joe Dalum, President and Chief Executive Officer of Odyne Systems. "As part of Odyne's unique system, Remy's HVH motor will help reduce the need for vehicle refueling and will provide enough quiet power onsite to run truck-mounted equipment for hours with the engine off.  This collaboration with Remy will build upon our strong experience in helping companies reduce their carbon footprint and meet sustainable energy goals."

A leader in plug-in hybrid technology, Odyne has developed proprietary and patented hybrid technology combining reliable electric power conversion, power control and energy storage technology with advanced electric propulsion motors, modular battery systems and other components.  The Odyne plug-in hybrid drive system reduces fleet operating and maintenance costs, and depending on duty cycle, enables large trucks to obtain fuel economy improvements of up to 50% or greater, compared to traditional diesel engines.

For more details about the HVH250 Series electric motors visit the Remy website at: http://www.remyinc.com/hvh.asp.

About Remy International, Inc.

Remy International, Inc., headquartered in Pendleton, Indiana, is a leading global manufacturer, remanufacturer and distributor of light duty starters and alternators and Delco Remy brand heavy-duty systems. Remy International also manufactures and distributes electric propulsion motors designed with leading edge technology and backed by the security of over a billion miles of proven reliability. In business for over 100 years, today Remy International is actively collaborating with companies throughout the world to develop innovations that are transforming the vehicle industry. Recently, Remy International was recognized by the United States Department of Energy for its leadership role in the hybrid technologies space and awarded a $60 million grant under the Electric Drive Vehicle Battery and Component Manufacturing Initiative.

About Odyne Systems, LLC

Odyne Systems, LLC, a clean technology company, develops and manufactures propulsion systems for plug-in hybrid electric vehicles (PHEV's), specifically for medium and heavy duty trucks. Odyne's hybrid technology enables vehicles to have substantially lower fuel consumption, lower emissions, improved performance, quiet jobsite operation and reduced operating and maintenance costs. For more information regarding Odyne and the benefits of hybrids, follow us on Twitter @Odyne or visit us at Odyne.com.

This material is based upon work supported by the Department of Energy under Award Number DE-EE0002023.  This release was prepared as an account of work sponsored by an agency of the United States Government.  Neither the United States Government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights.  Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or any agency thereof.  The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States Government or any agency thereof.

This press announcement contains forecasts, projections, expectations, or opportunities regarding Remy that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from anticipated results, including, but not limited to, future financial results and liquidity, development of new products and services, the effect of competitive products or pricing, the effect of commodity and raw material prices, the impact of supply chain cost management initiatives, restructuring risks, customs duty claims, litigation uncertainties and warranty claims, conditions in the automotive industry, foreign currency fluctuations, costs related to re-sourcing and outsourcing products, the effect of economic conditions, and other factors identified in Remy International statements.

Contact:

Ann Shannon, 480.455.9848
[email protected]

SOURCE Remy International, Inc.