I.D. Systems and C&D Technologies Enter Agreement to Market New Wireless Battery Management System for Industrial Vehicles
January 08 2007 - 9:00AM
PR Newswire (US)
HACKENSACK, N.J. and BLUE BELL, Pa., Jan. 8 /PRNewswire-FirstCall/
-- I.D. Systems, Inc. (NASDAQ:IDSY), a leading provider of wireless
solutions for improving industrial resource management, and C&D
Technologies, Inc. (NYSE: CHP), a leading producer and marketer of
electrical power storage and conversion systems, today announced
that they have entered into a strategic agreement to market a new
generation of wireless technology for managing the batteries that
power industrial trucks. The I.D. Systems-developed system will be
marketed under both the C&D Technologies and I.D. Systems
names. The two companies made the announcement at the ProMat
material handling exhibition in Chicago, which opened today. The
new system is based on I.D. Systems' Wireless Asset Net(R)
platform, which utilizes radio frequency identification (RFID)
technology to control, track, monitor, and analyze material
handling vehicles and other industrial assets. In busy
manufacturing and distribution facilities, such vehicles typically
require multiple batteries to sustain productivity throughout the
workday. These batteries represent a significant capital investment
and the changing/recharging process they require can significantly
reduce productivity. The new system will integrate automated
battery change management, in-depth battery and charger data
collection, and advanced management tools for remote system
monitoring and analysis. I.D. Systems and C&D Technologies
expect these functions will provide users with many benefits,
including: * more efficient battery swaps, at the optimal
frequency, to reduce vehicle/operator down time and increase
productivity; * more timely, detailed battery/operator usage data
to enable management to right-size its battery fleet and reduce
capital costs; * improved visibility of, and control over, battery
temperature and depth-of-discharge data to extend battery life and
further reduce capital costs. "We are very excited to partner with
I.D. Systems," said D'Arcy O'Neill, C&D's vice president of
sales. "The combination of C&D's innovative industrial motive
power systems and I.D. Systems' Wireless Asset Net is a natural
fit, where our ability to generate detailed battery and charger
information is significantly enhanced and competitively
differentiated by the real-time visibility and control afforded by
I.D. Systems' industry-leading wireless technology." "Our vision
with the C&D team for this technology development is
groundbreaking," stated Rick Muntz, I.D. Systems' executive vice
president of sales, marketing, and customer satisfaction.
"Together, we are responding to an explicit market need to reduce
the significant costs and inefficiencies associated with industrial
vehicle batteries. We look forward to working vigorously with
C&D to establish and capitalize on the new system's benefits
for owners and operators of industrial vehicle fleets." About I.D.
Systems Based in Hackensack, NJ, I.D. Systems, Inc. is a leading
provider of wireless solutions for managing and securing high-value
enterprise assets. These assets include industrial vehicles, such
as forklifts and airport ground support equipment, and rental
vehicles. The Company's patented Wireless Asset Net(R) system,
which utilizes radio frequency identification, or RFID, technology,
addresses the needs of organizations to control track, monitor and
analyze their assets. For more information, visit
http://www.id-systems.com/. About C&D Technologies, Inc.
C&D Technologies provides solutions and services for the
switchgear and control (utility), motive (material handling),
telecommunications, and uninterruptible power supply (UPS) as well
as emerging markets such as solar power. C&D Technologies
engineers, manufactures, sells and services fully integrated
reserve power systems for regulating and monitoring power flow and
providing backup power in the event of primary power loss until the
primary source can be restored. C&D Technologies' unique
ability to offer complete systems, designed and produced to high
technical standards, sets it apart from its competition. C&D
Technologies is headquartered in Blue Bell, PA. For more
information, visit http://www.cdtechno.com/. "Safe Harbor"
statement under the Private Securities Litigation Reform Act of
1995 This press release contains forward looking statements that
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and that are subject to
risk and uncertainties, including, but not limited to, future
economic and business conditions, the loss of any of the Company's
key customers or reduction in the purchase of its products by any
such customers, the failure of the market for the Company's
products to continue to develop, the inability to protect the
Company's intellectual property, the inability to manage the
Company's growth, the effects of competition from a wide variety of
local, regional, national and other providers of wireless solutions
and other risks detailed from time to time in the Company's filings
with the Securities and Exchange Commission, including the
Company's annual report on Form 10-K for the year ended December
31, 2005. These risks could cause actual results to differ
materially from those expressed in any forward looking statements
made by, or on behalf of, the Company. The Company assumes no
obligation to update the information contained in this press
release. DATASOURCE: I.D. Systems, Inc. CONTACT: Greg Smith, Vice
President Marketing, I.D. Systems, Inc., +1-201-996-9000, ; or Rita
Biehl, Marketing Manager, C&D Technologies, +1-800-543-8630,
Web site: http://www.id-systems.com/ http://www.cdtechno.com/
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