Castle Placement Named Exclusive Placement Agent for Odyne Systems

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MANHATTAN, N.Y. - Feb. 6, 2019 - PRLog -- Subject: Castle Placement Named Exclusive Placement Agent for Odyne Systems

Odyne Systems, LLC announced today that it has engaged Castle Placement, LLC as its exclusive placement agent to raise growth capital, which Odyne will use to enhance its technology in order to serve additional markets, hire additional sales and service staff, and expand production.

Founded in 2009, Odyne is the market leader in providing electrification systems for commercial work trucks over 14,000 pounds (Class 4 to Class 8) – reducing emissions, fuel consumption and noise.

Allison Transmission, the world's largest manufacturer of fully automatic transmissions for medium and heavy-duty vehicles, invested in a non-controlling equity stake in Odyne Systems, LLC in 2012.  Allison has continued to support Odyne. Odyne sells the only commercially available PHEV and ePTO systems for large trucks approved and endorsed by Allison Transmission. Allison's transmission warranty remains fully in place after installation of an Odyne hybrid system.

Odyne's plug-in hybrid propulsion (PHEV) systems enhance vehicle powertrain performance and efficiency while minimizing changes associated with other solutions.  Odyne's Electric Power Take-Off (ePTO) technology powers truck equipment at work sites with zero emissions.

Odyne enjoys a first-mover advantage, with few direct competitors.  The company is celebrating its 10th anniversary, Odyne's PHEV and ePTO systems are already in over 70 fleets with more than 350 units sold.  Customers include many of the largest utility and municipal fleets in the U.S.

Odyne's proprietary technology is protected by an intellectual property portfolio of 36 granted and 15 pending patents in electrification technology, including proprietary mechanical interfaces, system architecture and control system software. Odyne has a strong management team, led by Joe Dalum, with extensive experience in vehicle electrification and automotive technology.

Founded in 2009, Castle Placement raises equity and debt capital for private middle market companies across a broad spectrum of industries. Highly experienced investment bankers and a robust, data-driven, innovative technology platform - including artificial intelligence/machine learning - match great companies with global institutional investors. Castle Placement's proprietary app, CPGO, connects companies with investors in real time. It has over 64,500 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds, and lenders.

Contact: Richard Luftig. (212) 418-1181. rluftig@castleplacement.com.

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Castle Placement-Richard Luftig
rluftig@castleplacement.com
(516)655-3502
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Tags:Investment Bank
Industry:Automotive
Location:Manhattan - New York - United States
Subject:Deals
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