OTI Receives Orders for Commercial Quantities of Its EasyFuel Plus Product From Petroleum Partner, Tokheim
23 September 2013 - 10:31PM
Marketwired
On Track Innovations Ltd. (OTI) (NASDAQ:
OTIV), a global provider of near field communication (NFC) and
cashless payment solutions, has received orders for commercial
quantities of its EasyFuel Plus solution from Tokheim, one of the
world's leading manufacturers and service providers of fuel
dispensing and automation equipment.
EasyFuel Plus has been integrated into Tokheim's point of sale
controllers for implementation at both commercial fleet and retail
petroleum stations across 12 countries since the partnership was
announced in September of 2010. The implementation for a prominent
petroleum retailer is underway across four markets in Europe.
EasyFuel Plus equipment for Tokheim has been supplied to more
than 250 locations, which includes more than 1,000 nozzles and
7,500 vehicles to date. OTI Africa, OTI's value-added reseller for
EasyFuel Plus, manages the integration with Tokheim's point of sale
controllers and the application business rules.
As an integral part of Tokheim's commercial fleet offering,
SmartFuel reduces fraud and improves fuel management.
"The continued adoption of our EasyFuel Plus technology by
Tokheim reflects the increasing strength of our strategic
partnership and Tokheim's ability to successfully demonstrate how
our technology secures and simplifies the payment processes,"
commented Ofer Tziperman, OTI's CEO. "The demand for EasyFuel Plus
has gained momentum as customers globally recognize the benefits of
automated vehicle identification and the need for quality data. We
therefore envisage that our petroleum products will serve as one of
the main growth engines for our business."
Kurt Dillen, general manager of Tokheim's Systems &
Electronics Business Unit, commented: "It has been an interesting
journey to develop and package with OTI the perfect vehicle
identification solution for our fuel retail and fleet customers. As
a result of a great effort and a high level of cooperation between
the engineering teams of OTI and Tokheim, we can state today that
we have the best-in-class solution in the world to simplify
payment, increase throughput and improve the overall refueling
experience. Tokheim is not only offering this product solution, but
with our local service organizations we are also able to provide
after sales service. I am convinced that Tokheim will deliver this
easy-to-use solution to many more markets and customers in the
following years."
About Tokheim Tokheim Group S.A.S., based
in Paris, France, is one of the world's leading manufacturers and
service providers of fuel dispensing and automation equipment.
Tokheim is active in four business segments, fuel dispensers;
automation and payment solutions; service and project management
solutions for retail and commercial sites (ProFleet). With sales
and service divisions in 33 countries, and distribution channels in
101 countries around the globe, Tokheim offers customers a complete
range of fuel dispensers and pumps, retail automation systems,
payment terminals, media devices, replacement parts and upgrade
kits, and a full range of support services, including maintenance,
service station construction and project management. For more
information about Tokheim, go to www.tokheim.com.
About EasyFuel Plus In its simplest form,
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.
About OTI 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. For more information, visit www.otiglobal.com.
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.
Investor Contact Scott Liolios or Matt Glover Liolios
Group, Inc. 949 574 3860 Email Contact
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