Idleaire Technologies 8-K Idleaire Technologies Corporation Announces Third Quarter 2006 Operating Results

Exhibit 99.1

IDLEAIRE TECHNOLOGIES CORPORATION
ANNOUNCES THIRD QUARTER 2006 OPERATING RESULTS

• Third quarter revenues increased by 133% to $4.7 million

• ATE^® parking spaces increased 225% to 4,731

• Operating sites increased over 179% to 67

• Saved our fleet customers over 3.3 million gallons of diesel fuel during 2006

• Eliminated over 34,910 metric tons of idling diesel truck engine emissions

KNOXVILLE, TENNESSEE – November 14, 2006 — IdleAire Technologies Corporation, provider of Advanced Truck Stop Electrification (ATE^®) services for the long haul trucking industry, reported third quarter 2006 revenues of $4.7 million, a 133% increase over $2.0 million revenues in third quarter 2005. For the nine months ended September 30, 2006, revenues were $8.9 million, an 89% increase over revenues of $4.7 million for the first nine months of 2005. For the nine months ended September 30, 2006, the Company saved its fleet customers over 3.3 million gallons of diesel fuel and eliminated over 34,910 metric tons of air pollution emitted from idling diesel engines.

Network Deployment

As of September 30, 2006, IdleAire was operating 67 sites across 21 states, a 179% increase over the 24 sites operating as of September 30, 2005, and 4,371 ATE^® parking spaces, a 225% increase over the 1,346 ATE^® parking spaces operating as of September 30, 2005. During the third quarter of 2006, IdleAire deployed its ATE^® technology in 30 new truck stops and 2 fleet terminals totaling 2,083 ATE^® parking spaces and closed two “non-core” locations, which no longer meet current site selection criteria. The Company expects to be operating approximately 101 sites by the end of 2006.

Chairman, President and CEO Mike Crabtree stated, “IdleAire’s value proposition reduces the idling costs of heavy duty diesel engines, provides an important retention and recruitment benefit to fleets, provides a platform for remote driver training, reduces driver sleep deprivation, eliminates air pollution from idling engines, conserves fossil fuel energy and improves highway safety. The expansion of our network of locations should be making it easy and convenient for long-haul truck drivers to use IdleAire’s ATE^® technology.”

“We continue to believe that building our network is essential to fleet endorsement and adoption,” Crabtree added. “Over 1,800 fleets are using IdleAire today. The percentage of total hours used and paid for by our fleet customers has grown steadily from 27% in 1Q06 to 36% in 2Q06 to 53% in 3Q06 to 72% in October, 2006. This network effect generates occupancy improvements and we expect this trend to accelerate as we expand our installation of ATE^® systems at travel centers, fleet terminals, distribution centers and sea ports convenient to drivers.”

Operating Results

Net revenues for the quarter ended September 30, 2006, increased 133% to $4.7 million compared with $2.0 million in the third quarter of 2005. IdleAire’s ATE^® systems billed 1.95 million hours of usage at an average 24-hour occupancy rate of 27.8%, which compares favorably to an average occupancy rate of 26.5% for the third quarter of 2005. Our core sites that have been operating for at least 12 months generated an average utilization of 8.4 hours per ATE^® space per day, a 12.5% increase over the third quarter of 2005.

Drivers who idle their heavy duty diesel engines during the extended stay periods required by the U.S. Department of Transportation’s Hours-of-Service regulations typically burn approximately 1.0 gallons of diesel fuel per hour and emit approximately 10,598 grams of air pollution per hour. For the nine months ended September 30, 2006, the Company provided approximately 3.3 million hours of service which resulted in saving 3.3 million gallons of diesel fuel and eliminating over 34,910 metric tons of air pollution.

“As a result of expanding our network coverage from 24 locations to 80 locations and from 11 states to 26 states during the first ten months of 2006,” Crabtree stated, “our overall direct costs have increased, but we are very pleased that our direct costs on a per ATE^® space unit basis have continued to decrease. We expect this trend to continue as we begin to capture the benefit of our larger ATE^® network.”

The net loss for the quarter ended September 30, 2006, increased to $13.6 million, compared with a net loss of $4.8 million in the prior year period due to increases in net interest expense of $4.3 million and direct site operating costs of $4.6 million due to costs associated with our network deployment. The Company expects to incur net losses for the foreseeable future as it deploys a critical mass network of locations, expands sales efforts and grows operations. The goal is to increase our utilization and revenues to generate economies of scale which the Company believes, when combined with relatively flat operating expenses, will allow it to reach profitability.

For the nine months ended September 30, 2006, the Company reported revenues of $8.9 million, compared to $4.7 million in the prior-year period, and a net loss of $39.4 million, compared with a net loss of $17.8 million for the prior-year period.

Conference Call

IdleAire will host a conference call to discuss third quarter results on November 15, 2006, at 11:00 a.m. EST. Dial in for this interactive teleconference toll free at 877-677-1819, access code 8441617. A recording of the call will be available an hour after the live call ends and will be available until 5:00 p.m. EST, November 23, 2006. During that time, the recording may be accessed by calling toll free 866-410-5844, pass code 5157.

About IdleAire

IdleAire Technologies Corporation is the leading trucking industry services company offering comprehensive in-cab idle reduction, driver work environment, communication, safety and other training services to the long-haul trucking industry. IdleAire’s value proposition reduces idling costs for a truckload carrier, provides valuable driver retention and recruitment benefits, reduces driver sleep deprivation, conserves fossil fuel and energy resources, reduces air pollution and improves highway safety. IdleAire is committed to developing a nationwide network of locations, growing revenue and earnings per share. The Company provides its ATE^® services at travel centers and truck fleet terminals throughout the continental United States. Please visit the Company’s website at www.idleaire.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to our business, financial condition, results of operations and expansion projects, which involve risks and uncertainties that cannot be predicted or quantified, and consequently, actual results may differ materially from those expressed or implied herein. Such risks and uncertainties include, but are not limited to, financial market risks, idle reduction for trucks, the anticipated customer acceptance, demand and utilization of our ATE^® systems, the number of parking spaces and locations we expect to install, competition, the seasonal nature of our business, economic conditions, regulatory matters and litigation and other risks described from time to time in our filings with the Securities and Exchange Commission. In addition, construction projects such as the rollout of our ATE^® system entail significant risks, including shortages of materials or skilled labor, unforeseen regulatory problems, work stoppages, weather interference, and unanticipated cost increases. The anticipated costs and construction periods are based on budgets and construction schedule estimates. There can be no assurance that the budgeted costs or construction period will be met. All forward-looking statements are based on our current expectations and projections about future events.

Contact:

John Doty (865) 437-3659
Media Relations, IdleAire Technologies Corporation

James H. Price (865) 437-3640
Investor Relations, IdleAire Technologies Corporation

IdleAire Technologies Corporation

Condensed Balance Sheets
(Unaudited)

	September 30,			December 31,
	2006			2005
Assets
Current assets:
Cash and cash equivalents	$	23,920,421		$	5,925,600
Accounts receivable		4,978,125			768,204
Accounts receivable — related parties		5,000			5,000
Inventories		822,370			292,710
Prepaid expenses and other current assets		2,103,407			947,615
Total current assets		31,829,323			7,939,129
Restricted cash and investments		79,479,462			202,772,260
Deposits with vendors		25,486,314			232,779
Property and equipment, net		111,411,711			33,252,636
Deferred financing costs, net		29,291,860			29,506,307
Other assets		66,000			82,270
Total assets	$	277,564,670		$	273,785,381
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	11,799,036		$	2,641,515
Accrued expenses		4,265,966			1,935,917
Deferred trade revenue		1,163,944			990,165
Deferred grant revenue		1,082,805			1,381,426
Total current liabilities		18,311,751			6,949,023
Deferred grant revenue		8,823,432			5,610,783
Other liabilities		3,129,789			—
Secured convertible notes		100,000			100,000
Senior secured discount notes		225,794,984			201,690,400
Total liabilities		256,159,956			214,350,206
Stockholders’ equity:
Series A convertible preferred stock, $0.001 par value; 22,000,000 shares authorized, 17,171,448 shares issued and outstanding		30,349,676			30,349,676
Series B convertible preferred stock, $0.001 par value; 13,000,000 shares authorized, 12,566,774 shares issued and outstanding		49,055,727			49,055,727
Series C convertible preferred stock, $0.001 par value; 11,000,000 shares authorized, 4,473,032 shares issued and outstanding		22,155,254			22,155,254
Common stock, $0.001 par value; 200,000,000 shares authorized, 48,639,159 and 48,533,272 shares issued at September 30, 2006 and December 31, 2005, respectively		48,639			48,533
Stockholder subscription receivable		—			(925,000	)
Treasury stock, 111,111 common shares, at cost		(200,000	)		(200,000	)
Deferred compensation		—			(96,000	)
Additional paid-in capital		52,157,828			51,766,798
Accumulated deficit		(132,162,410	)		(92,719,813	)
Total stockholders’ equity		21,404,714			59,435,175
Total liabilities and stockholders’ equity	$	277,564,670		$	273,785,381

IdleAire Technologies Corporation

Condensed Statements of Operations
(Unaudited)

	For the three months ended						For the nine months ended
	September 30,						September 30,
	2006			2005			2006			2005
Net revenues:
Basic and premium services, net	$	3,726,719		$	1,351,412		$	6,360,292		$	2,816,894
Grant revenues		280,099			403,974			1,197,484			1,355,055
Ancillary product sales		597,351			206,387			1,086,393			381,688
Other revenues		122,616			63,730			296,266			165,437
Total net revenues		4,726,785			2,025,503			8,940,435			4,719,074
Operating expenses:
Direct site operating costs (1)		7,084,169			2,501,430			13,818,888			8,583,597
Depreciation and amortization		2,472,442			1,353,434			5,405,863			4,039,386
Selling, general and administrative expenses		4,089,090			2,835,565			11,625,740			9,025,962
Research and development expenses		35,986			43,350			107,958			196,664
Impairment of long-lived assets		—			—			1,303,885			—
Loss on settlement of asset retirement obligations		—			—			316,807			—
Loss on disposal of fixed assets		347,759			30,114			1,336,382			522,984
Total operating expenses		14,029,446			6,763,893			33,915,523			22,368,593
Loss from operations		(9,302,661	)		(4,738,390	)		(24,975,088	)		(17,649,519	)
Interest income		1,672,880			28,139			6,002,985			62,410
Interest expense		(5,985,783	)		(75,732	)		(20,470,494	)		(190,552	)
Net loss	$	(13,615,564	)	$	(4,785,983	)	$	(39,442,597	)	$	(17,777,661	)

(1) Excludes depreciation expense in the amount of $2,241,292 and $1,137,223 for the three months ended September 30, 2006 and 2005, respectively, and $4,776,262 and $3,332,989 for the nine months ended September 30, 2006 and 2005, respectively, reported in a separate caption.