ROSH PINA,
Israel, Nov. 20, 2017
- CityEV™ chooses OTI's Uno 6 – Ultra Compact NFC Contactless
Reader as its cashless payment solution for Cityline 100, the ideal
charge point platform that can be configured to meet a wide variety
of client applications
- Plug-in cars increased from 3,500 in 2013 to almost
121,000 by the end of October
2017 in the UK
- Goldman Sachs estimates electric vehicles will represent 32% of
global auto sales by 2040
/PRNewswire/ -- On Track Innovations Ltd.
(OTI) (NASDAQ: OTIV), a global provider of near field
communication (NFC) and cashless payment solutions, announced today
its UNO 6 Ultra Compact NFC Contactless Reader had been chosen by
UK-based CityEV, a leading provider of electric vehicle charging
solutions, as the cashless payment solution for its Cityline 100
electric vehicle charging stations.
"OTI recognizes CityEV as a major player in the plug-in hybrid
electric vehicle market and is happy to be CityEV's choice for its
cashless payment solution," said Shlomi
Cohen, OTI's CEO. "The Uno 6 has been neatly embedded into
the Cityline 100 smart interface. We look forward to a prosperous
future in the electric vehicle market with CityEV and its Cityline
100 system."
The CityEV™ ingenious charge point network is a new 'second
generation' car charge network system, with the latest protocol
version offering both local smart charging, where charging on
multiple charge points is limited to a certain power limit and
central smart charging which is managed by the central system.
The last four years have seen a remarkable surge in demand for
electric vehicles in the UK. New registrations of plug-in cars
increased from 3,500 in 2013 to almost 121,000 by the end
of October 2017, NextGreenCar.com
states.
The electric vehicle revolution is coming much faster than even
some of the most bullish analysts expected. In late July, even the
CEO of Royal Dutch Shell, one of the largest oil and gas
companies in the world, said that he would buy an electric vehicle,
acknowledging that the transition from the internal-combustion
engine to the electric battery was inevitable.
About OTI
On Track Innovations (OTI) is a global leader in the design,
manufacture, and sale of secure cashless payment solutions using
contactless NFC technology with an extensive patent and IP
portfolio. OTI's field-proven innovations have been deployed around
the world to address cashless payment and management requirements
for unattended retail and petroleum markets, the Internet of Things
(IoT) and wearables. OTI distributes 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 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. For
example, we are using forward-looking statements when we discuss
our expectations regarding the share of the contactless fare
collection in transportation by 2021 of the entire fare collection,
our growth, the growth of the market and the market trends. 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, 2016, 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.
For further information:
OTI Press Contact
Richard Harris
Marketing Manager
+972-4-686-8004
press@otiglobal.com
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SOURCE On Track Innovations Ltd (OTI)