SOURCE: Bledsoe Capital Group

June 23, 2011 10:30 ET

Bledsoe Capital Group Announces a $3 Million Agreement With IdleAir

IdleAir Service to Help Long-Haul Truck Drivers Reduce Their Carbon Footprint and Save Money While Idling at Truck Stops

KNOXVILLE, TN--(Marketwire - Jun 23, 2011) - Bledsoe Capital Group LLC announced today that they have reached an agreement with IdleAir, a company in which they are currently shareholders. The agreement is for a prospective follow-on investment of up to $3 million on a second round of funding. IdleAir is a Knoxville, TN company that provides America's hard-working long-haul truck drivers an alternative to idling their engines during rest periods. IdleAir service allows truck drivers to turn off their diesel engines and APUs and still enjoy heat, cooling, standard electric inside and outside the cab, Satellite TV, internet, and many of the comforts of home -- all while saving money and getting better sleep without the noise, vibration, and exhaust fumes from idling.

Drew Bledsoe, founder and principal of Bledsoe Capital Group, stated, "We have always considered the hard working truck drivers in the United States as the life line to our economy, linking farmers and manufacturers to the consumers in the marketplace. Anything we can do to help save them money and provide a higher level of comfort is imperative and we found that IdleAir was exactly the solution."

Ethan Garber, IdleAir's CEO, stated, "We are excited to have Bledsoe Capital Group believe in our company. IdleAir's new management team is focused on improving a great idea and expanding it across the country with our terrific travel center partners. We think BCG's involvement with IdleAir brings us significant strategic benefits: BCG's expertise in maximizing the value of Clean Tech companies will resonate well in conveying our high value idling alternative to fleets and professional drivers."

Bledsoe Capital Group has a focus on green technology and solutions. "Not only does IdleAir's service provide an incredible cost savings to the truck drivers but it significantly reduces their carbon footprint and relies on domestic natural gas for power," said Chad Wold, managing director and general counsel for Bledsoe Capital Group.

For more information on IdleAir, visit their homepage at www.IdleAir.com or contact Ethan Garber at 865-232-1700 or Ethan.Garber@IdleAir.com.

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