XL Hybrids, developer of hybrid electric powertrains for commercial vans and trucks, announced March 4 that IHS Energy has named the company an "Energy Innovation Pioneer."

The recognition goes to companies and entrepreneurs who are developing technologies and business plans considering transformational for the energy future. XL Hybrids was recognized during IHS Energy’s CERAWeek conference, an international gathering offering new ideas, dialogue and insight into the energy future, held in Houston, Texas, March 3–7, 2014.

In announcing the award, Kristan Bodek, program manager for the Energy Innovation Pioneers at IHS Energy CERAWeek said, “XL Hybrids epitomizes what we look for in an Energy Innovation Pioneer. Their hybrid powertrain system is economic today, highly scalable and significantly reduces fuel consumption.”

As part of the conference, Tod Hynes, XL Hybrid’s president and founder, will be presenting the company’s XL3 hybrid electric drive system technology, which provides a solution that helps commercial van, truck and shuttle bus fleets lower operating costs and meet sustainability goals by increasing miles driven per-gallon by 25% and reducing fuel use and carbon dioxide emissions by 20%, according to the company.

“We are excited to receive this honor at what is widely considered the leading energy conference in the world,” Hynes said. “Being named an Energy Innovation Pioneer highlights XL Hybrids’ focus to provide large fuel users an alternative solution which can compete on price and performance and scale extremely rapidly.”

XL Hybrids was also recently recognized by Fast Company in its 2014 roundup of the World’s 50 Most Innovative Companies list “for siphoning gas-guzzlers off the road.” Fast Company also recognized XL Hybrids as No. 3 in the energy sector, behind Tesla and General Electric, in offering game-changing solutions.