Allison Transmission Inc. announced it has invested in a noncontrolling equity stake in Odyne Systems, a manufacturer of advanced hybrid control systems. Terms were not announced.
“Odyne Systems’ expertise and experience in the development and manufacture of advanced hybrid control systems made them an attractive partner,” says Lawrence Dewey, chairman, president and chief executive officer 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, says the new 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,” Dalum says. “It also becomes especially relevant with today’s varying fuel prices and the drive to reduce emission levels.”