IdleAir plans growth with $7 million infusion

| August 23, 2012



IdleAir has secured $7 million of growth financing and plans to add five more locations this year and 15 more in 2013, said Ethan Garber, chief executive officer.

The provider of truck stop electrification services operates 30 locations in 12 states, representing 1,600 parking spaces.

It has 33,000 active users, two-thirds of them owner-operators. A typical owner-operator who is not on a special plan will spend about $20 an evening to get climate-controlled air, Internet service, 64 channels of television and 110-volt power, Garber said.

He also said IdleAir has launched its first fleet terminal and is seeking other fleet customers for dedicated terminal and distribution centers.

The company has 450 corporate fleet customers representing about 80,000 potential driver customers.

IdleAir also has launched a Convoy Points loyalty rewards program with major truck stop and retail partners.

The new financing came from Sea Port Group Securities. Since IdleAir was relaunched in 2010, following the 2008 bankruptcy of IdleAire, Seaport has raised more than $15 million for IdleAir.

  • jescott418

    How many fools will dump money into this losing venture? Has it ever made any money?

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