PORTERVILLE, CA–(Marketwired – June 20, 2017) – GreenPower Motor Company Inc. (TSX VENTURE: GPV) (OTCQX: GPVRF) (“GreenPower” or the “Company“) has commenced the demonstration tour of its Synapse 72 all-electric Type D school bus to school districts and charter schools in the State of California.
The tour will initially be focused on showing the Synapse 72 and obtaining orders from the eighteen school districts and charter schools that have been selected by the South Coast Air Quality Management District (“South Coast”) and the thirteen successful applicants for the North Coast Unified Air Quality Management District (“North Coast”) for funding directly tied to the purchases of all-electric school buses.
The South Coast has currently approved awards for 33 electric Type C or Type D school buses and the associated charging infrastructure to 16 public school districts and 2 charter schools for a total amount of up to $8,844,000. To be eligible for funding, an applicant must receive approval for HVIP funds from the California Air Resources Board (“CARB”). After subtracting the HVIP voucher amount, the South Coast funds will then be used to pay for the balance of the electric school bus up to $248,000.
Through a partnership with Senator Mike McGuire and CARB, the North Coast is administering the Rural School Bus Pilot Project for the State of California. A total of 22 school districts have been selected with an initial allocation of 29 school buses. The buses are required to incorporate various technologies, 19 of which must be zero-emission (either battery electric or fuel cell). The funding for a zero-emission school bus can be up to $400,000 with an additional $5,000 for the related infrastructure.
GreenPower’s Synapse 72 all-electric Type D school bus has been approved by CARB for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project. The voucher provides up to $110,000 for each Synapse 72 sold for use in a Disadvantaged Community in the the State of California.
“The Synapse 72 utilizes GreenPower’s high floor platform and clean sheet design, making it the first purpose built all-electric school bus in existence,” said Brendan Riley, President of GreenPower. “This bus features the safety and durability of an integrated, monocoque structure, contemporary styling, stable and responsive handling, a mono-volume interior, fully configurable passenger compartment all with the quiet and smooth power of an all-electric drivetrain. I am excited for our customers to see this bus and experience the kind of quality only GreenPower can provide. This isn’t just the most compelling electric school bus, in my opinion. It’s the most compelling electric bus period.”
About GreenPower Motor Company Inc.
GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets. GreenPower offers a range of electric powered buses deploying electric drive and battery technologies with a lightweight chassis and low floor or high floor body. GreenPower’s bus is based on a flexible clean sheet design and utilizes a custom battery management system and a proprietary Flex Power system for the drive motors. GreenPower integrates global suppliers for key components such as Siemens for the two drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. For further information go to www.greenpowerbus.com.
Forward-Looking Statements
This document contains forward-looking statements relating to, among other things, GreenPower’s business and operations and the environment in which it operates, which are based on GreenPower’s operations, estimates, forecasts and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower’s control, such as the regulations and requirements in different jurisdictions. A number of important factors including those set forth in other public filings (filed under the Company’s profile on www.sedar.com) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts in U.S. dollars. © 2017 GreenPower Motor Company Inc. All rights reserved.
For further information contact:
Fraser Atkinson
Chairman
(604) 220-8048