Rental Automobile Marketplace Heavyweight Seeks a Lighter Footprint
From time to time in our research for undiscovered companies, 1 will jump out and seize our attention. In the situation of Ecologic Transportation, “EGCT” it was an old familiar marketplace heavyweight at its helm that prompted me to “appear below the hood” of this corporation.
At the helm of this minimal eco-friendly corporation is a really completed and highly regarded gentleman named Bill Plamondon. Plamondon spent 19 several years with Spending budget Hire-A-Automobile, the final 5 as CEO. Shortly thereafter he was President and Main Government Officer of Alamo and National Automobile Rental. He has rented thousands and thousands of autos to thousands and thousands of individuals. Following several years of admittedly contributing extra than his share of filthy fuels into our air, he made a decision it was time to start out an all “eco-friendly” transportation corporation. Ecologic Transportation, Inc. was started as an revolutionary corporation devoted to environmentally friendly transportation solutions and providers by offering an agnostic approach to eco-friendly autos and cleanse fuels.
Ecologic Transportation is an all environmental rental motor vehicle corporation, filling a void in the traditional rental motor vehicle business. Plamondon observed the demand from customers for eco-friendly rental autos far exceeded the offer. In addition, no other motor vehicle rental corporation is all environmentally friendly in its functions and business procedures. What commenced as an environmentally friendly rental motor vehicle corporation has grown to a in depth environmentally friendly transportation corporation.
Most recently, the corporation rolled out Ecologic Shine™, a waterless environmental motor vehicle wash procedure that cleans and shines autos safely using 100% biodegradable solutions. Ecologic Shine solutions and providers preserve water and do away with damaging run-off ducts. The giving is stated to be fantastic for the natural environment, fantastic for the consumer, fantastic for the automobile and important for Ecologic Transportation shareholders, fantastic for the bottom line. The corporation recently announced its Ecologic Solutions providers deal with Park ‘N Fly, a countrywide off-airport parking corporation with around 25,000 areas in 12 airport markets. Ecologic Solutions is cleaning autos with environmentally friendly Ecologic Shine™. Presently running at locations in Atlanta, GA with scheduled openings in San Diego and Los Angeles, CA, expansion continues to the remaining Park ‘N Fly corporate locations which include San Francisco, CA, Oakland, CA, Ontario, CA, Houston, TX, Dallas, TX, Minneapolis, MN, Cleveland, OH, Fort Lauderdale, FL and New Orleans, LA. This model alone appears to have the prospective of being really scalable, really rewarding and potentially a corporation maker.
Admittedly the corporation is even now in the relatively early phases of its growth and its buying and selling background is rather minimal obtaining occur general public via a reverse merger late final year. Its recent pullback in price tag makes it that extra intriguing. We have generally found that when you have a tested and completed executive like Bill Plamondon essentially occur out of retirement to run a small corporation in a multi-billion vertical he by now is aware of and has had achievement in, it truly is really worth viewing intently. Even though Plamondon is regarded as a charitable gentleman who provides back to his group and especially to children, we see his filling the CEO part and being the company’s largest shareholder as obviously earnings pushed. This is obviously an fairness play for him which absolutely aligns his aims with shareholders. We’ll be viewing Ecologic Transportation and we will not likely be amazed in the the very least if its CEO Bill Plamondon follows in his previous footsteps of developing productive organizations and making shareholder value.