Nowadays dynamic optimization is an important tool in the process industry for process design and operation. Advanced techniques for the optimization of continuous processes are well established. However, many processes include switches between different operating modes leading to changes of the dynamics during the operation. Such processes are called hybrid or switched systems. Due to the switched dynamics the optimization of hybrid dynamic systems is a highly challenging task. This contribution gives a short overview of the methods currently available for modeling and optimization of hybrid dynamic systems. In particular, regularization methods turn out to be very promising. The case studies demonstrate the effectiveness of two important regularization methods applied to a three-tank system and an industrial evaporator, respectively.