IdleAire financing paves expansion

Jan. 5, 2006
IdleAire Technologies Corp. has announced the sale of $320 million of discount notes and warrants

IdleAire Technologies Corp. has announced the sale of $320 million of discount notes and warrants. This will fund the installation of IdleAires’s Advanced Truckstop Electrification (ATE) system in approximately 13,200 parking spaces at 210 locations in 35 states.

ATE allows long haul drivers to turn off their diesel engine to heat or cool the cab at rest stops or while they wait to load or unload. The system requires a truck to have a $10 retrofit completed, noted IdleAire.

Aside from providing heating and cooling, ATE also provides communication and entertainment options for the driver. The service module, which includes a computer with an LCD display, is capable of administering driver safety programs, professional development, education and other training materials to drivers.

IdleAire plans to add its ATE systems within a network of 160 truckstops and 50 fleet terminals selected for their size, convenience along freight corridors, driver amenities and frequency of idling trucks.

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