OTI Receives Purchase Orders of More Than $1 Million for EasyFuel Plus From
Customers, Including a Major Global Supply Chain Provider
Order Marks 10th New Country for EasyFuel Deployments in 2013, 43rd
ROSH PINA, ISRAEL -- (Marketwired) -- 11/11/13 -- OTI Africa, a
global Value Added Reseller (VAR) of petroleum products and wholly
owned subsidiary of On Track Innovations Ltd. (OTI) (NASDAQ: OTIV),
recently received initial purchase orders for its EasyFuel Plus
solution from customers, including a major global supply chain
customer valued at more than $1 million.
The orders follow a successful pilot deployment of the EasyFuel Plus
solution in the Middle East. The major deployment will be in a new
country for EasyFuel, bringing the total number of countries where
EasyFuel is being used to 43. The solution includes OTI's Packaged
Mobile Bowser and Home Base offerings.
"The follow-on orders reflect the continued adoption of our vehicle
fueling solutions and the increasing global demand for refueling
automation and control," said Charlotte Hambly-Nuss, Managing
Director of OTI Africa. "In fact, with this order, EasyFuel will have
been deployed in 10 new countries this year, resulting in a 100%
year-over-year increase in sales of our Mobile Bowser and Home Base
OTI Africa's success has been driven by its suite of packaged
proprietary solutions and third-party components that address the
full spectrum of the vehicle fueling process, including OTI's
patented automation and automatic vehicle identification (AVI)
After the global economic downturn resulted in a "capex light"
approach by many oil companies in 2010, OTI Africa positioned itself
as a VAR of pump controllers and as a solutions integrator, enabling
it to offer customers fit-for-purpose cost effective automation
solutions. This unique approach facilitates the implementation of the
EasyFuel Plus solution at the outset of a project or as part of a
"Our decision to integrate system components for a complete
end-to-end solution has enabled us to address a much broader range of
market opportunities," added Hambly-Nuss. "We are encouraged by the
demand for our cost effective and scalable solutions that is
reflected in our operational and sales momentum."
OTI is working diligently to build on its momentum with a widening
pipeline of growth opportunities, including within its existing
customer and partner relationships. "As global demand for vehicle
fueling technologies builds," commented Hambly-Nuss, "we are strongly
positioned with industry-leading solutions and a marquee customer
base, which are key factors for expanding our market share and
penetrating new countries."
"We are very pleased with the growth demonstrated by OTI Africa,"
commented Ofer Tziperman, CEO of OTI. "Moving forward, we consider
this subsidiary as an important growth engine for the OTI group. This
is yet another perfect example of how the OTI's contactless and NFC
technology can create and serve new innovative vertical payment
products and solutions."
OTI's integrated packaged solution includes automatic tank gauging
equipment which enables Home Base customers to reconcile fuel usage
through the EasyFuel Plus solution. OTI Africa has developed a unique
process to facilitate volume reconciliation for the Mobile Bowsers.
By ensuring connectivity from its Cape Town operations in South
Africa to the systems deployed in the field, OTI Africa is able to
extend its offerings to include site monitoring services and a
comprehensive set of web-based fuel management reporting tools.
Customers can also subscribe to OTI Africa's bureau service, which
enables customers to manage their fleet fuel costs by exception.
About EasyFuel Plus
In EasyFuel Plus's most basic configuration,
external readers access information stored on a vehicle mounted tag
or alternatively on a passive tag mounted around the fuel inlet. This
information is required to approve any fuel transaction and should
the information not prove valid, refuelling is denied.
The EasyFuel Plus solution has full read/write capability, which
allows designated information to be written to the tag from a remote
head office location thereby removing the unnecessary cost and
inconvenience of updating tag information at customers' premises
using field technicians.
The ability to alter the functionality of the tag through remote
software upgrades enhances the flexibility of the tag as a mobile
computing platform. New applications and features such as loyalty
indicators and maintenance records can be added after implementation
with a simple download to the OTI devices, which include vehicle
tags, driver tags, key fobs or smart cards. Moreover, devices can be
dynamically suspended or deactivated in the field.
The validity of the method of payment can be verified offline or
online. Due to the flexibility and security of the OTI technology
platform, a wide range of business rules such as the fuel grade, tank
capacity and velocity checks can be managed offline.
The EasyFuel vehicle tag supports various inputs, including
simultaneous support for both engine hour and odometer readings. The
introduction of innovative solutions such as the GOS unit (GPS
odometer sender) to measure distance travelled independently of the
vehicle and anti-siphoning units designed for use in conjunction with
EasyFuel, further serve to differentiate OTI's product offering.
OTI's ability to support pre-payment on its devices, including
vehicle tags (without the reliance on back-end systems) further
serves to differentiate its product offering.
On Track Innovations Ltd. (OTI) is a leader in
contactless and NFC applications based on its extensive patent and IP
portfolio. OTI's field-proven innovations have been deployed around
the world to address NFC payment solutions, petroleum payment and
management, cashless parking fee collection systems and mass transit
ticketing. OTI markets and supports its solutions through a global
network of regional offices and alliances. Visit the website:
Safe Harbor for Forward-Looking Statements
This press release may
contain forward-looking statements within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act of
1995 and other Federal securities laws. Because such statements deal
with future events and are based on OTI's current expectations, they
are subject to various risks and uncertainties and actual results,
performance or achievements of OTI could differ materially from those
described in or implied by the statements in this press release. The
forward-looking statements contained in this press release are
subject to other risks and uncertainties, including those discussed
in the "Risk Factors" section and elsewhere in OTI's annual report on
Form 20-F for the year ended December 31, 2012 and in subsequent
filings with the Securities and Exchange Commission. Except as
otherwise required by law, OTI disclaims any intention or obligation
to update or revise any forward-looking statements, which speak only
as of the date hereof, whether as a result of new information, future
events or circumstances or otherwise.
Managing Director - OTI Africa
+27 21 526 9100
Scott Liolios or Matt Glover
Liolios Group, Inc.
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