Welcome to our dedicated page for GreenPower Mtr Co news (Ticker: GP), a resource for investors and traders seeking the latest updates and insights on GreenPower Mtr Co stock.
GreenPower Motor Company Inc. (NASDAQ: GP) is a manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles, with activity across the cargo and delivery market, shuttle and transit space and school bus sector. The news flow around GreenPower often reflects developments in these areas, as well as corporate and financing updates.
News about GreenPower includes announcements on manufacturing facilities and geographic expansion, such as its agreement with the New Mexico Economic Development Department to establish operations in Santa Teresa, New Mexico. The company has highlighted that this facility is expected to become its base for North American operations and U.S. corporate headquarters, supported by state incentives and the region’s Foreign Trade Zone designation.
Investors and observers can also find coverage of GreenPower’s financing activities, including credit facilities, term loans and preferred share financings. These items are often described by the company as supporting recapitalization, production of all-electric vehicles and conversion of contracted orders, particularly in the school bus segment.
Product- and market-related news features the company’s EV Star Class 4 commercial vehicle lineup and its all-electric school buses. Releases have discussed eligibility of EV Star vehicles for incentive programs such as California’s Clean Truck and Bus Voucher Incentive Project (HVIP) and the New Jersey Zero-Emission Incentive Program (NJ ZIP), as well as pilot projects involving all-electric, zero-emission school buses in certain U.S. states.
By following GreenPower news on this page, readers can review company-issued updates on vehicle programs, facility plans, incentive program participation and capital markets activity, all of which are relevant to understanding how GreenPower positions its all-electric medium and heavy-duty vehicles within the transportation and manufacturing sectors.
GreenPower Motor Company (NASDAQ: GP) held its Annual General and Special Meeting where shareholders elected all six management-nominated directors: Mark Achtemichuk, Fraser Atkinson, Malcolm Clay, Sebastian Giordano, David Richardson, and Brendan Riley. The shareholders also approved the company's 2022 Equity Incentive Plan and reappointed BDO Canada LLP as auditors.
Following the meeting, the board appointed key officers: Fraser Atkinson as Chairman and CEO, Brendan Riley as President, and Michael Sieffert as CFO and Corporate Secretary. GreenPower specializes in manufacturing all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans, with zero emissions.
GreenPower Motor Company (Nasdaq: GP) has closed the first tranche of its secured term loan offering, raising US$500,000 from companies controlled by its CEO and a Director. The loan, which carries a 12% annual interest rate and a two-year term, is secured by the company's assets and subordinated to senior debt. As part of the deal, the company issued 1,086,956 share purchase warrants to each lender, exercisable at US$0.46 per share over 24 months. The proceeds will be used for production costs, supplier payments, payroll, and working capital.
GreenPower Motor Company (Nasdaq: GP) has announced a term loan offering of up to $2 million to support its operations. The loan will bear a 12% annual interest rate with a two-year term and will be secured by company assets. The first tranche of $500,000 is expected to come from companies associated with the CEO and a Director. The loan proceeds will be used for production costs, supplier payments, payroll, and working capital.
As an incentive, the company will issue non-transferable share purchase warrants to lenders, with the number determined by dividing the loan amount by the market price. Future tranches may include bonus warrants or shares up to 20% of the loan amount. The transaction is subject to regulatory approvals and includes a four-month statutory hold period for issued securities.
GreenPower Motor Company (Nasdaq: GP) (TSXV: GPV), a manufacturer of zero-emission electric vehicles, has announced its 2025 Annual General and Special Meeting scheduled for May 23, 2025, with a voting record date of April 16, 2025.
The company received a notification from Nasdaq on April 1, 2025, regarding non-compliance with Listing Rule 5620(a) for not holding its annual shareholders meeting within twelve months of the fiscal year ended March 31, 2024. GreenPower expects to regain compliance by conducting the meeting on the scheduled May date.
GreenPower specializes in manufacturing all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans, utilizing a clean-sheet design approach and integrating global suppliers for key components.
GreenPower Motor Company (NASDAQ: GP) has delivered its first four Type D all-electric BEAST school buses to West Virginia under Round 2 of the EPA's Clean School Bus Program. The delivery is part of an $18.565 million award for seven West Virginia school districts to deploy 50 zero-emission school buses manufactured in South Charleston.
The delivery was briefly paused due to a spending freeze by the Trump Administration but resumed after cooperation between Senator Shelley Moore Capito and EPA Administrator Lee Zeldin. The BEAST, a 40-foot Type D bus, can seat up to 90 students and features fast charging capabilities allowing full charge in under three hours.
The company will continue deliveries to complete the 50-bus deployment, including both BEAST and Type A Nano BEAST models. Grant County Public Schools, working with Highland Electric Fleets on charging infrastructure, will be the next district to receive their buses.
GreenPower Motor Company (Nasdaq: GP) has announced its annual stock option grants to key personnel. The company has allocated 525,000 incentive stock options to four Independent Directors and three Officers, 250,000 options to employees, and 25,000 options to a consultant. The options are exercisable for five years at CDN $0.78 per share, pending TSX Venture Exchange approval.
The vesting schedule varies by position: Directors and CFO's 75,000 options each will fully vest one year after the grant date, while employee and consultant options will fully vest three years after the grant date. All options begin vesting in increments four months post-grant.
GreenPower Motor Company (NASDAQ: GP) has established an At-The-Market (ATM) equity program through a sales agreement with Roth Capital Partners. Under this program, GreenPower may issue up to US$850,000 of common shares at market prices through the Nasdaq Capital Market.
The company plans to use the net proceeds for the production of all-electric vehicles, including BEAST school buses and EV Star commercial vehicles, as well as product development. Any remaining funds will be allocated to general corporate purposes. Roth Capital Partners will receive a 3.0% commission on the aggregate gross proceeds from share sales.
The ATM program is established under an effective shelf registration statement filed with the SEC. No shares will be offered or sold in Canada, and GreenPower is not obligated to make any sales under this agreement.
GreenPower Motor Company (Nasdaq: GP) has provided a corporate update regarding two key developments. First, the company confirmed its ongoing relationship with RedChip Companies, Inc. as their Investor Relations Representative, which began February 26, 2024, at a monthly fee of US $10,500. The agreement initially had a six-month term and continues month-to-month.
More critically, on February 27, 2025, GreenPower received a notice from Nasdaq regarding non-compliance with listing rules, as its share price has remained below $1 for 30 consecutive business days. The company has 180 calendar days to regain compliance by maintaining a closing price above $1 for 10 consecutive trading days. If unsuccessful, GreenPower may be eligible for an additional 180-day period to meet this requirement, provided it satisfies other Nasdaq Capital Market listing standards.
GreenPower Motor Company (Nasdaq: GP) reported its Q3 fiscal 2025 results, achieving $7.2 million in revenue, marking a 35% increase from the previous quarter. The company's gross profit improved to 14.6% of revenue, up from 8.6% in Q2.
During the quarter, GreenPower delivered 13 BEAST Type D electric school buses, one Nano BEAST Type A school bus, one EV Star Cargo Plus, and 13 EV Star Passenger Vans. The company reported working capital of $12.8 million, a $2.7 million increase over the previous quarter, and inventory of $28.2 million.
The company is expanding its West Virginia manufacturing facility to produce one BEAST per week, increasing to two per week by April. GreenPower also plans to consolidate its California operations into one facility in the Inland Empire for improved efficiency. The company completed an underwritten offering of 3,000,000 common shares, raising $3 million in gross proceeds.