Odyne Corporation to Evaluate Strategic Alternatives and Retain Financial Advisor


PHOTO

HAPPAUGUE, N.Y. October 20, 2008: Odyne Corporation (OTCBB:ODYC), a clean technology company that develops advanced hybrid electric vehicle propulsion systems, announced today that the Company has retained Matrix USA, LLC as its financial advisor to evaluate the companys strategic alternatives, including a possible sale of the company, a strategic partnership, a technology licensing agreement, or an additional raise of equity capital. The Company said there can be no assurance that any transaction will occur or, if one is undertaken, its terms or timing. The Company stated that it does not expect to update its progress or disclose developments with respect to the assessment of strategic alternatives unless the Board of Directors has approved a definitive transaction on terms that the Board of Directors believes will be in the best interests of the shareholders of Odyne.

As the demand for clean technologies in the automotive and trucking industry grows, we believe that a strategic step that enables Odyne to scale production and further commercialize our systems is critical at this time," said Alan Tannenbaum, CEO of Odyne Corp.

-->

On Sale Today



Home | Buyers Guides By Make | New Car Buyers Guide | Used Car Super Search | Total New Car Costs | Car Reviews Truck Reviews
Automotive News | TACH-TV | Media Library | Discount Auto Parts

Copyright © 1996-2014 The Auto Channel. Contact Information, Credits, and Terms of Use. These following titles and media identification are Trademarks owned by The Auto Channel, LLC and have been in continuous use since 1987 : The Auto Channel, Auto Channel and TACH all have been in continuous use world wide since 1987, in Print, TV, Radio, Home Video, Newsletters, On-line, and other interactive media; all rights are reserved and infringement will be acted upon with force.

Privacy Statement | Size Does Matter | Media Kit | XML SITE MAP | Affiliates

Send your questions, comments, and suggestions to Editor-in-Chief@theautochannel.com.

Submit Company releases or Product News stories to submit@theautochannel.com.
Place copy in body of email, NO attachments please.

To report errors and other problems with this page, please use this form.

Link to this page: http://www.theautochannel.com/