IdleAire Technologies Corporation - From Idea to IPO Plans

Abstract

With Oil prices hitting record highs in 2007, fuel conservation became a priority for the trucking industry. As companies searched for ways to get better mileage, one company looked in a different direction to address the problem. ldleAire Technologies Corporation, established in 2000, introduced a new technology that could conserve billions of gallons of fuel each year as well as significantly cut back on air and noise pollution. What ldleAire created was an engine idling alternative; truck drivers no longer would have to leave their engines running to access heating or air conditioning, as well as other cab accessories, while resting. ldleAire provided these services through a small, simple window attachment at an hourly service charge. With this product and service, ldleAire believed it would benefit all parties involved in the trucking industry, including truck drivers, trucking fleets, communities, travel centers, and parking lot owners as well as the environment. The company found a receptive market and expanded rapidly. Expansion was important to the success of the venture, but the build-out was very capital intensive. In late 2007, as the company prepared for an initial public offering, its revenues were increasing, but so were losses.