ACT Expo 2018

EcoDual: To Be or Not to Be

March 20, 2014 in Companies, Dual Fuel, NGVs by Rich Piellisch  |  No Comments

CFO Insists that Firm ‘Is Committed to Its Goal’

Despite the departure of its CEO and other top execs, a non-functioning toll-free number on its own website, and general consensus among industry observers that the company has shut down, South Carolina-based EcoDual remains in active search of money to stay alive, its CFO says.

EcoDual has set up a Google number: (843) 732-3627.

Don’t bother with the toll-free number.

EcoDual offered the MAX/SR system for converting diesel trucks to natural gas-diesel dual fuel operation, promoting its technology as a relatively low cost alternative allowing operators to pare fuel costs with a cleaner alternative while still being able to fall back on 100% diesel if necessary.

“Everybody’s left,” says a former employee. “They ran out of money.”

“It’s shut down.”

‘We Hope to Secure the Necessary Investment or Partnerships’

Former president and CEO Mike Donoughe has departed, likewise executive VP John Reale.

They've moved on.

They’ve moved on.

“While we have slowed the pace of business, we hope to secure the necessary investment or partnerships over the next several weeks to accelerate commercial progress,” EcoDual CFO Anant Vashi said in an email this morning.

“Dual fuel is an important emissions and cost reduction option for heavy duty fleets for the next several decades, and EcoDual is committed to its goal of being a leading technology provider in this category.

“Given the dynamic and proprietary nature of our fundraising activities, I cannot comment further.”

As for the telephone, Vashi says, “We have changed the system and have temporarily set up a number to take messages, (843) 732-3627.”

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Numerous industry sources, email from EcoDual CFO

Posted in Companies, Dual Fuel, NGVs and tagged .

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