Wayne, A GE Business, and OTI Sign Global Supply Agreement for
Automatic Vehicle Identification Technologies
CAPE TOWN, SOUTH AFRICA--(Marketwired - Dec 17, 2013) - OTI
Africa, a global Value Added Reseller (VAR) of petroleum equipment
products and wholly owned subsidiary of OTI Ltd. (NASDAQ: OTIV),
has recently entered into a global agreement with Wayne, A GE
Business (NYSE: GE) and global innovator of fuel dispensers and
forecourt technologies, to supply OTI's EasyFuel Plus Automatic
Vehicle Identification components for the Wayne Fusionâ„¢ forecourt
systems that will be sold around the world.
Under the agreement, OTI's EasyFuel Plus components will be
rebranded as Wayne products and integrated into the Fusion
forecourt system to help provide Wayne's customers with a secure,
reliable, scalable, and cost-effective fleet management system.
Wayne will use its channel partners to introduce the solution to
petroleum retailers, commercial fleets, and industrial and mining
customers.
In addition, OTI Africa is a Distributor of the Fusion forecourt
system in select African countries. As a supplier of "packaged"
home base solutions for commercial fuelling customers, OTI chose to
offer the Fusion forecourt system as a standard part of the product
offering due to the stability, scalability, and easy deployment of
the product.
As a result of these agreements, Wayne and OTI Africa have
already implemented these solutions at locations in several African
countries and are working on opportunities in a number of
additional regions.
"This supply agreement is a result of our longstanding
relationship with Wayne, which originated from OTI's efforts to
promote and integrate the EasyFuel Plus solution in various places
in Africa," said Charlotte Hambly-Nuss, Managing Director of OTI
Africa. "It also provides a significant validation of our
technology, and we plan to work closely with Wayne while using our
proven experience to offer fuel management systems in new
countries."
Tim Firkins, solutions marketing leader at Wayne, commented:
"After a thorough evaluation process, we found that OTI's solution
best supports our technology requirements and our client demands,
while enhancing Wayne's fuel automation offering. The Fusion
forecourt system already provides control over complex deployments
by interfacing with multiple devices, POS, and ERP systems, and
now, with the integration of OTI's vehicle identification
technology, significantly enhances the fleet management
capabilities of the product."
Ofer Tziperman, CEO of OTI, added: "This relationship is
representative of our business efforts to help grow opportunities
for our fuel management solutions. Wayne has an impressive track
record of innovation as well as a world-class sales and support
network, which we expect to be instrumental in meeting our
customers' growing needs."
The Wayne Automatic Vehicle Identification solution has already
been showcased at several industry events, including Wayne's most
recent channel partner conferences, at the Expo Postos &
Conveniência in Rio de Janeiro, and at Automechanika in Frankfurt
in 2012. The solution was also demonstrated with huge success at
BP's "Fuelling the Future" Showcase during the London 2012 Olympic
and Paralympic Games.
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 serves 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 Wayne, A GE Business Wayne is a GE business and global
leader in the design, manufacturing and servicing of forecourt
fueling solutions where reliability and uptime are critical.
Dispensers, payment platforms, control systems and technology from
Wayne play an essential role in traditional and alternative fueling
sites around the world. Wayne is ISO 14001 certified.
www.wayne.com
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 and other cashless 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.
Wayne Contact: Alicia High Marketing Communications Manager +1
512 388 8401 Email Contact OTI Africa Contact: Charlotte
Hambly-Nuss Managing Director Email Contact OTI Investor Contact:
Scott Liolios or Matt Glover Liolios Group, Inc. +1 949 574 3860
Email Contact
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