CAPE TOWN, SOUTH AFRICA -- (Marketwired) -- Jun 02, 2015 -- OTI PetroSmart, a global Value Added Reseller of petroleum payment solutions and products and a wholly owned subsidiary of On Track Innovations Ltd. (oti) (NASDAQ: OTIV), and Wayne Fueling Systems ("Wayne"), a global innovator of dispensers and forecourt technologies, announced today the expansion of the EasyFuel Plus implementation into Africa, South America and Asia.
The global Supply Agreement was signed between OTI PetroSmart and Wayne in December 2013 in respect of OTI's AVI (Automated Vehicle Identification) solution, EasyFuel Plus. Under the agreement, OTI's EasyFuel Plus components are rebranded as Wayne products and integrated into the Wayne Fusion™ site automation server to help provide Wayne's customers with a secure, reliable, scalable, and cost-effective fleet management system. Wayne uses its channel partners to introduce the solution to petroleum retailers, commercial fleets, and industrial and mining customers. Pursuant to the commercial arrangement, OTI PetroSmart provides ongoing implementation, technical support and training to ensure that customers derive the intended benefits of the overall solution.
As a result of concerted mutual efforts in 2014, the strategic relationship between OTI PetroSmart and Wayne has gained significant momentum in a number of new regions in both the retail, commercial and industrial context.
The pilot implementation for a leading petroleum retailer in Northern Africa with a large downstream network of service stations has been successfully concluded. Orders for both site and vehicle-mounted equipment have been received for the first phase of the AVI roll out.
In addition, field trials for a major petroleum retailer in South America, with a large market presence in its country of operation, are underway and orders have been processed to extend the field trials to additional sites.
Wayne has also secured a major contract to supply compressed natural gas (CNG) dispensers and the integrated Wayne Fusion site automation server with AVI for the city of Baku public transport fleet in Azerbaijan, demonstrating the versatility of the OTI EasyFuel solution to address a wide range of refueling scenarios.
As a Wayne distributor in Africa, OTI PetroSmart has furthermore extended the implementation of its packaged home base solutions, which incorporates the Fusion site automation server for commercial transport companies, government ministries, municipalities and industrial customers in Southern Africa.
"These recent, exciting wins are the result of a high-level of cooperation between OTI PetroSmart and Wayne from a commercial, technical, training and support perspective," said Charlotte Hambly-Nuss, managing director of OTI PetroSmart. "We are committed to supporting Wayne and their channel partners in their efforts to introduce the integrated solution. We anticipate that momentum will continue to build throughout 2015."
Matteo Ciarapica, Regional Products and Solutions Leader at Wayne, commented: "The Fusion site automation server already provides fuel station operators with increased visibility and control over many forecourt devices in a single, streamlined solution. With the addition of OTI PetroSmart's robust and secure AVI functionality, the Fusion site automation server's fleet management capabilities are significantly enhanced, enabling completely automated authorization and payment of re-fueling transactions, 24 hours a day. As anticipated, the increased functionality has opened up new opportunities for us in the area of fleet management across the globe."
Ofer Tziperman, CEO of oti, added: "This relationship is representative of our business efforts to help grow opportunities for our fuel management solutions. OTI PetroSmart's strength lies in its responsiveness and design approach, which provides it with the agility to address the functional and technical requirements of the market."
About EasyFuel Plus
In EasyFuel Plus' most basic configuration, wireless readers installed in a gas station and contactless readers installed on the nozzle access information stored on a vehicle mounted tag or alternatively on a passive contactless 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 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.
OTI PetroSmart'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. For further information about EasyFuel Plus visit www.otipetrosmart.com.
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.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions, we are making forward-looking statements. 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. Forward-looking statements could be impacted by the effects of the protracted evaluation and validation periods in the U.S. and other markets for contactless payment cards, or new and existing products and our ability to execute production on orders, as well as other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2014, and in subsequent filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. 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. The content of the web site links in the PR do not form part of it.
OTI PetroSmart Contact: Charlotte Hambly-Nuss Managing Director Email Contact Investor Contact: Scott Liolios or Matt Glover Liolios Group, Inc. Email Contact
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