IdleAire Official Appears Before Regional Group
By Michael Silence, The Knoxville News-Sentinel, Tenn.
Apr. 8–Knoxville-based IdleAire Technologies has 216 anti-idling devices now operating in Knox County, the company told a regional transportation group Tuesday morning.
Carol Doty, manager of strategic affairs for IdleAire, said the company also plans to open another anti-idling location in Jefferson County, but she gave no time frame.
IdleAire made a brief presentation to a committee of the Knoxville Transportation Planning Organization, a multi-jurisdictional organization that has provided $2 million in funding to IdleAire. The TPO coordinates regional transportation planning for the Knoxville region. Organization members include the cities Knoxville, Alcoa, Maryville, Farragut and Lenoir City and Knox, Blount, Loudon and Sevier counties.
IdleAire officials answered a few background questions posed by TPO committee members, but declined to make predictions or comments about future company performance, citing Securities and Exchange Commission restrictions while the company considers going public.
The company has not said when it plans to offer public stock, how many shares will be offered or at what price.
In a report filed with the SEC last week, IdleAire said it “expects to report a net loss of approximately $93 million and revenues of approximately $37 million for fiscal year 2007, as compared to a $60 million net loss and revenues of $14 million for fiscal year 2006.”
The filing also said “there is substantial doubt about the Registrant’s ability to continue as a going concern.”
IdleAire, which has operated locations in Knox County at the Petro Stopping Center on Watt Road, Travel Centers of America at Watt Road and a Travel Centers of America site in Strawberry Plains, manufactures and maintains in-cab electrification units for the long-haul trucking industry. The units supply electricity, heat, air conditioning, Internet and satellite TV connections, on-demand movies and even educational videos through consoles that fit in truck windows for a fee. The power units allow truckers to turn off their engines, thus saving diesel fuel and reducing pollution.
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