The originally proposed name for the team was Rourkela Steelers, after the city which is said to be the hockey Capital of Orissa.
The others were Hyderabad Sultans, Maratha Warriors, Sher-e-Punjab, Chandigarh Dynamos, Chennai Veerans, and Bangalore Lions.
Orissa Steelers went on to win 10 of their 12 matches in the league to top the regular season.
In the best-of-three finals, they won the title and the prize money of Rs 4 million by beating Sher-e-Punjab twice while losing to them once.
Dilip Tirkey, the captain of the Orissa Steelers, was awarded player of the tournament in PHL 2007.