On Track Innovations Ltd. (OTIV)

[midastouch017]

OTI’s EasyFuelPlus to be Deployed at 300 Gas Service Stations in Southern Africa

GlobeNewswire•April 3, 2017
Recurring revenue per gallon of fuel pumped
Customer is large multinational oil company
Automatic Vehicle Identification (AVI) solution provides automated fuel management and cashless payment
ROSH PINNA, Israel, April 03, 2017 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. (OTI) (OTIV), a global provider of near field communication (NFC), cashless payment and fuel management solutions, announced today that its wholly owned subsidiary, OTI PetroSmart, has received an order to deploy OTI’s EasyFuelPlus Automatic Vehicle Identification (AVI) solution across a network 300 on-road gas service stations across Southern Africa. These 300 fueling service stations are already in OTI PetroSmart’s network of sites that have served multiple other commercial fleet customers with OTI’s legacy AVI solution.

“Our legacy AVI fuel management system has distinguished itself in the market by addressing fuel fraud and enabling fleet customers to effectively manage their fuel consumption,” said Charlotte Hambly-Nuss, Managing Director of OTI PetroSmart. “We are confident our latest AVI solution, EasyFuelPlus, will build upon the field proven success and continue providing our valued end users with a seamless and intuitive AVI experience.”

OTI CEO Shlomi Cohen added, “We are very pleased to receive this significant purchase order from a major multinational oil company. The value and efficiency improvements our EasyFuelPlus product delivers to our customers enables us to structure a pricing model that includes recurring revenue per gallon of fuel to OTI. Through our OTI PetroSmart subsidiary, we are looking to increase revenue share from this market application of our fuel management solutions.”

For more information visit www.otipetrosmart.com.

About OTI PetroSmart

OTI PetroSmart, established in 2000, is a leading provider of integrated fuel management solutions and operates in over 40 countries via a network of strategic partners and distributors.

OTI PetroSmart products automate, simplify and secure the refuelling and payment process across a range of verticals, including the retail, commercial, industrial and mining sectors. Our core solutions help reduce operational expenditure by eliminating manual processes as well as by providing quality data that not only enables the effective management of fuel consumption but also helps to prevent fraud.