GreenPower Executing Order for 50 All-Electric, Purpose-Built School Buses $18.5 million Awarded By EPA Clean School Bus Program

Rhea-AI Summary

GreenPower Motor Company has finalized an order for 50 all-electric school buses funded by an $18.5 million EPA Clean School Bus Program award. The order includes various models of BEAST, Mega BEAST, and Nano BEAST buses to be distributed across seven West Virginia school districts. The project, part of the Bipartisan Infrastructure Law, represents a collaborative effort to replace diesel buses with zero-emission alternatives. The order increased from 47 to 50 buses after Monongalia County School District contributed an additional $550,000 from its own funds. The buses will create a charging corridor throughout the state, enabling both local and long-distance operations.

Positive

• Secured $18.5 million EPA-funded order for 50 electric school buses
• Additional revenue from $550,000 contribution by Monongalia County
• Established presence in multiple school districts, expanding market reach
• Class-leading range of up to 300 miles for Mega BEAST model

Negative

• None.

SOUTH CHARLESTON, W.Va., Oct. 28, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced that it has finalized the particulars for the order for 50 all-electric Type D BEAST and Mega BEAST and Type A Nano BEAST and Nano BEAST Access school buses for seven county school districts in West Virginia funded by the EPA Clean School Bus Program. The order is through GreenPower's West Virginia dealer.

"EPA has previously awarded $18.5 million to purchase 50 GreenPower all-electric school buses and provide for the charging infrastructure associated with these purpose-built EVs," said GreenPower President Brendan Riley. He noted the increase from the original 47 school buses announced by the EPA in January to the 50 school buses in the order is because Monongalia County School District is required to pay an additional $550,000 from its own school bus replenishment funds since the county is defined as non-priority by EPA.

"This electrification project is the type of activity Congress envisioned when it created the Clean School Bus Program in the Bipartisan Infrastructure Law," Riley continued. "It is a collaborative effort between seven West Virginia school districts, GreenPower, GreenPower's statewide school bus dealer and an infrastructure provider to replace outdated, dirty diesel buses with a safe, sustainable and sensible clean alternative to get kids to and from school and extracurricular activities in a healthier environment."

Development of the grant funded by EPA was a multi-step process designed to ensure the effective use of federal funds in deploying the most zero-emission school buses possible while creating a charging corridor throughout the state which allows for the all-electric school buses to operate both on local routes and longer distances.

"As the statewide dealer, we partnered with GreenPower as the OEM to first meet individually with each school district to gauge their interest in participating in the grant process. Each of the schools had participated in the #YesWV All-Electric School Bus Pilot Project, so they were familiar with GreenPower's school buses and knew they were well suited to meet the transportation needs of their students," said Steve Ellis, Vice President of Sales for GreenPower's dealer. "The schools then all came together as a group and jointly decided how to proceed with the application process."

GreenPower collaborated with its Dealer and Highland Electric Fleet and they, collectively, made depot visits to each school district to establish their needs. They then provided guidance on the charging infrastructure, drafted the application, met with the school districts' Boards of Education for approval, and submitted the grant application to the EPA.

The 50 GreenPower buses will be distributed as follows:

• Cabell County School District – 6 BEASTs
• Calhoun County School District – 3 BEASTs and 1 Nano BEAST
• Clay County School District – 3 BEASTs
• Grant County School District – 3 BEASTs and 2 Nano BEASTs
• Kanawha County School District – 21 BEASTs
• Lewis County School District – 6 BEASTs
• Monongalia County School District – 1 Mega BEAST and 4 Nano BEASTs

"GreenPower's all-electric school buses are eligible for rebate funding under the current round of the federal Clean School Bus Program and for the California Zero-Emission School Bus and Infrastructure (ZESBI) program," said Paul Start, GreenPower's Vice President of Sales – School Bus Group. "Applications for the $965 million in Clean School Bus Program funding are due by January 9, 2025 and for the $500 million ZESBI funding by November 22, 2024." For assistance with grant applications, school districts should contact Start at paul.s@greenpowermotor.com.

GreenPower's BEAST is a purpose-built 40-foot Type D all-electric, zero-emission school bus with seating for up to 90 students. Designed from the ground up, it is a unified structure that features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium on a high strength steel Truss (bus) chassis. The complete flat floor design allows for tracking with no obstacles, and the high floors keep students out of the crash zone. Dual port charging is standard with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 85 kW.

The Mega BEAST has a class-leading range of up to 300 miles on a single charge via a 387 kWh battery pack. It provides for the longest range, has the biggest battery pack in the school bus market, provides for more uphill climbing power and has the most desirable V2G capability for a more stable electric grid and community sustainability in areas where it is deployed.

The School Transportation News award-winning Nano BEAST has a standard 118 kWh battery pack and a range of up to 140 miles. Configured for up to 24 passengers, it features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium. The dual port charging is standard, with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 60 kW. The Nano BEAST Access has seating for up to 18 ambulatory passengers and up to 3+ Q'STRAINT wheelchair securements, complemented with a BraunAbility rear curbside lift.

Contacts:
Brendan Riley, President
brendan@greenpowermotor.com

Paul Start, Vice President of Sales – School Bus Group
paul.s@greenpowermotor.com

Fraser Atkinson, CEO
fraser@greenpowermotor.com 

Mark Nestlen, Vice President of Business Development & Strategy
mark.n@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 vans 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. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. 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 including GreenPower's ability to manufacture the BEAST, Mega BEAST and Nano BEAST school buses according to the specifications and requirements of the school districts, and that these school buses will be delivered to and accepted by the counties; that the Dealer will receive the $18.5 million in EPA funding for the BEAST, Mega BEAST and Nano BEAST to pay for the school buses upon delivery; and that the Monongalia school district will have $550,000 available from its own school bus replenishment funds to pay for the school buses upon delivery. 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. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. A number of important factors including those set forth in other public filings (filed under the Company's profile on www.sedar.com and from time to time with the U.S. Securities and Exchange Commission on www.sec.gov) 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. ©2024 GreenPower Motor Company Inc. All rights reserved.

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SOURCE GreenPower Motor Company

FAQ

How many electric school buses did GreenPower (GP) secure in the EPA-funded order?

GreenPower secured an order for 50 all-electric school buses, including BEAST, Mega BEAST, and Nano BEAST models.

What is the total value of the EPA Clean School Bus Program award for GreenPower (GP)?

The EPA Clean School Bus Program awarded $18.5 million to purchase GreenPower's electric school buses and associated charging infrastructure.

How many West Virginia school districts are receiving GreenPower (GP) electric buses?

Seven West Virginia school districts are receiving GreenPower's electric school buses through this EPA-funded program.

What is the maximum range of GreenPower's (GP) Mega BEAST school bus?

The Mega BEAST has a class-leading range of up to 300 miles on a single charge with a 387 kWh battery pack.