GreenPower Accelerates Production of All-Electric School Buses; Secures Financing Facility of Up to $18 Million to Convert Record Backlog

Rhea-AI Summary

GreenPower (NASDAQ: GP) announced on Nov 14, 2025 an accelerated production plan for its all-electric school buses supported by a financing facility of up to $18 million (deployable in tranches up to $2 million).

The facility is intended to convert a record backlog of more than $50 million in contracted Nano BEAST and BEAST school buses into deliveries; the company says it pre-built over 100 Nano BEAST cab chassis and 30 BEAST chassis (more than 130 chassis) to shorten lead times, accelerate revenue recognition, improve gross margins, and move toward positive operating cash flow.

Positive

• $18M financing facility available to support production
• More than $50M in contracted school bus orders
• Pre-built >130 chassis to reduce lead times and speed deliveries
• Company claims a pathway to positive operating cash flow

Negative

• Facility of $18M covers only part of the >$50M backlog
• Financing is deployable in tranches up to $2M, which may limit rapid drawdown

• Financing facility supports conversion of more than $50 million in contracted school bus orders, with over 130 chassis already produced to accelerate revenue recognition and improve working-capital efficiency.
• Early production work positions GreenPower for improved gross margins and a pathway to positive operating cash flow.

LOS ANGELES, Nov. 14, 2025 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) ("GreenPower" or the "Company") today announced accelerated production of its all-electric school bus lineup, supported by a financing facility of up to $18 million, deployable in tranches of up to $2 million. The facility is designed to optimize cash conversion cycles, enabling GreenPower to match capital deployment with production timing as the Company scales output.

"We are entering a period of meaningful operational leverage," said Fraser Atkinson, CEO of GreenPower. "With more than $50 million in contracted orders for our Nano BEAST and BEAST school buses, this facility allows us to convert backlog into deliveries more efficiently. Before finalizing the facility, we pre-built over 100 Nano BEAST cab chassis and 30 BEAST chassis, significantly reducing production lead times. This creates a clear path toward accelerated revenue recognition, margin expansion, and improved operating cash flow."

GreenPower remains the only fully electric OEM manufacturing both a Class 4 Type A and Class 8 Type D school bus. This vertically integrated, purpose-built platform strategy positions the Company to capture share as the school transportation sector transitions to zero-emission fleets supported by federal and state incentives.

For further information contact:

Fraser Atkinson, CEO
(604) 220-8048
fraser@greenpowermotor.com  

Michael Sieffert, CFO
Michael.Sieffert@greenpowermotor.com  

Brendan Riley, President
Brendan@greenpowermotor.com 

About GreenPower Motor Company Inc.

GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis.  GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. 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.greenpowermotor.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 "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations, and include statements regarding Greenpower's plans to accelerate production of its school bus lineup, optimize its cash conversion cycle and revenue recognition. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, such as whether the Company will continue to optimize its operations and focus on initiatives that drive sustainable growth, whether the Company can accelerate production of its school bus lineup to clear the production backlog, or whether the Company will continue to meet all of the requirements to maintain its Nasdaq exchange listing. A number of important factors including those set forth in other public filings  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.

 

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SOURCE GreenPower Motor Company

FAQ

What is the size and structure of GreenPower's financing facility announced Nov 14, 2025 (GP)?

GreenPower secured a facility of up to $18 million, deployable in tranches of up to $2 million to fund production conversion.

How much contracted school bus business does GreenPower have to convert under the Nov 2025 plan (GP)?

The company reported more than $50 million in contracted orders for Nano BEAST and BEAST school buses.

How many chassis has GreenPower pre-built to accelerate deliveries as of Nov 14, 2025 (GP)?

GreenPower pre-built over 100 Nano BEAST cab chassis and 30 BEAST chassis, totaling more than 130 chassis.

What operational benefits does GreenPower expect from the accelerated production and financing (GP)?

The company cites shortened production lead times, accelerated revenue recognition, potential gross margin improvement, and a pathway to positive operating cash flow.

Will the $18M facility fully cover conversion of GreenPower's backlog (GP)?

No; the facility is $18M while the contracted backlog exceeds $50M, so the facility covers part of the conversion needs.

How might tranche limits affect GreenPower's production funding (GP)?

Because draws are in tranches up to $2M, access to funds is staged and may pace how quickly production capital is deployed.