Ontario Ministry of Transportation Electric School Bus Pilot Program Provides up to $8 Million for the Purchase of New Electric School Buses and Charging Infrastructure
Vancouver, Canada – September 25, 2017 – GreenPower Motor Company Inc. (TSXV: GPV) (OTCQX: GPVRF) (“GreenPower” or the “Company”) has planned the first Canadian demonstration tour of its Synapse 72 all-electric school bus. The tour will be held in the Greater Toronto Area from September 26 to 29, 2017. The Toronto tour follows the Company’s successful demonstration tour in California, where GreenPower secured 11 commitments for its Synapse 72 all-electric school bus from six school districts in California.
GreenPower will be in Ontario as part of the Electric School Bus Pilot Program, launched by the Ontario Ministry of Transportation. The program provides up to $8 million for the purchase of new electric school buses and charging infrastructure. Eligible school bus operators who apply for the program can receive up to $400,000 for each new electric school bus and the related charging infrastructure to support it.
GreenPower will begin its tour on Tuesday, September 26, which has been scheduled for meetings with the investment community in downtown Toronto, where the Synapse 72 will be on display. On Wednesday and Thursday, September 27 and 28, the Company will be conducting demonstrations with its regional factory representative, City View Bus Sales & Services Ltd., for selected applicants of the pilot program.
The Synapse 72 will also be on display and available for demonstration rides at the electric school bus equipment showcase, which is being held at the Plug ‘N Drive Electric Vehicle Discovery Centre in North York on Friday, September 29. The electric school bus equipment showcase has been organized to offer manufacturers of electric school buses and technology providers an opportunity to display their products to interested parties of the Electric School Bus Pilot Program.
“The Electric School Bus Pilot Program provides a great incentive for school bus operators within Ontario to convert their fleets to a proven electric alternative,” said Fraser Atkinson, Chairman of GreenPower. “Our intent with this first tour in Toronto is to capitalize on the opportunity the program is providing and to introduce the GreenPower solution to a new market. We believe the Toronto school bus operators will find our bus compelling from a financial as well as environmental perspective, and we look forward to productive meetings with potential customers.”
The Synapse 72 utilizes GreenPower’s high floor platform, clean sheet design and an integrated, monococque body, making it the first purpose built all-electric school bus in existence. In addition to the safety and durability of an integrated, monocoque structure, the bus also features contemporary styling, stable and responsive handling, a mono-volume interior, and a fully configurable passenger compartment with seating for up to 72 students all with the quiet and smooth power of an all electric drivetrain.
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.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 “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.
For further information contact:
Fraser Atkinson, Chairman
(604) 220-8048
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.<.sup>
