Echo Automotive, Inc. is launching EchoAccelerate, a program for intellectual property (IP) licensing, allowing OEMs and automotive companies to integrate hybrid powertrains to vehicles.
This in a move to help broaden the company’s reach from mostly fleet applications to general public.
Echo Automotive describes itself as a developer of technologies enabling the cost-effective aftermarket addition of fuel-efficient plug-in hybrid capability to new and existing vehicles.
In the words of Echo, through the EchoAccelerate program, “Echo Automotive gives companies a unique opportunity to access patented and patent-pending automotive technologies, intellectual properties and trade secrets developed by veteran OEM automotive engineers and electrification pioneers with deep and rich experience working with Tier 1 suppliers. From battery modules and pack technology to designs for a full-size commercial plug-in hybrid van, the EchoAccelerate program can reduce research and development time and costs, and put OEMs and manufacturers on a faster path to market.”
The company also stated the program enables Echo to strategically and cost-effectively broaden its reach and extend its aftermarket solutions and electrification technologies.
“Electrification of the global fleet market is gaining momentum in response to several key factors including increasing fuel costs, tightening of carbon dioxide regulation, increasing government mandates and corporate sustainability initiatives, growing commercial demand, and the potential to reduce fleet operating costs. This momentum is creating a greater sense of urgency for OEMs and automotive manufacturers to accelerate development and shorten time to market, which often begs the question of build or buy,” said Jason Plotke, Echo Automotive Chairman and President. “EchoAccelerate offers companies an easy way to license innovative technology that complements or supplements their products and in-house capability by giving them access to millions of dollars in R&D, a rich IP portfolio and extensive electrification expertise. The program provides myriad opportunities that will benefit Echo, our partners and, ultimately, the industry and the communities we serve.”
Per Echo, EchoAccelerate was developed to open access to Echo Automotive’s R&D investments and its growing IP portfolio, which includes intellectual property acquisitions. The company said it is currently entertaining inquiries from domestic and international OEMs and manufacturers, and said it looks forward to building successful partnerships that drive revenue, shareholder value and faster market adoption of electrification technologies worldwide.
“We are very pleased by the market’s response to our EchoAccelerate program,” adds Dan Kennedy, Company CEO. “We made a bold strategic move in acquiring IP that has strengthened our portfolio and allowed us to broaden our solution set and our market reach.”