[January 10, 2006] OTI's wireless fuel payment solution deployed in Peru Tweet (Israel Business Arena Via Thomson Dialog NewsEdge)Smart card solutions provider OTI - On Track Innovations (Nasdaq: OTIV; Prime Standard: OT5) today announced the installation of its EasyFuel wireless petroleum payment solution at gas stations in central Peru. No value was disclosed. OTI is marketing EasyFuel with Automation Service SAC (ASSAC), a Peruvian company dedicated to the development of solutions for the administration of stations and the control of fleets utilizing the EasyFuel system. OTI's EasyFuel wireless petroleum payment solution will automate the distribution of both fuel and oil. The system is based on OTI's patented technology that allows RFID smart tags to work in both short and long-range situations. By controlling the distribution of fuel electronically, fraud is greatly reduced while significantly decreasing the total service time. The system also allows for 24-hour non-attendant sales and greater in-store purchases. After a successful pilot program, Minera Yanacocha SRL, the largest gold producer in South America, has signed a contract to implement the EasyFuel system on their fleet. This includes the upgrade of vehicles currently equipped with OTI's FuelMaster. ASSAC Automaton Service general director Marco Moscoso said, The Minera Yanacocha project is the largest and most important EasyFuel project we have signed to date in Peru and their adoption of the product demonstrates its importance to fleet operators in the region. We look forward to leveraging this relationship and expanding the availability of OTI's EasyFuel system to additional stations and fleets throughout Peru. OTI president and CEO Oded Bashan said, We are pleased to be expanding our EasyFuel program in Peru. We are happy to be working with ASSAC and look forward to further expanding the availability of EasyFuel in Peru. Several major oil companies, including BP and Repsol, and many large commercial fleet operators have adopted OTI's solution for petroleum payment and fleet management in Africa, South America, and Europe. Published by Globes [online], Israel business news - www.globes.co.il - on Tuesday, January 10, 2006 [ Back To TMCnet.com's Homepage ]