VANCOUVER, British Columbia, Feb. 26, 2018 (GLOBE NEWSWIRE) -- GreenPower Motor Company Inc. (TSXV:GPV)
(OTCQX:GPVRF) (“GreenPower”) has completed the sale and received payments for two EV550 all-electric double decker buses for CVS
Cruise Victoria (“CVS”), which will primarily be used for transportation of tourists from the cruise ship terminal at Ogden Point
in Victoria, Canada.
To facilitate the purchase, GreenPower worked with a third-party leasing company to create a five-year leasing
program specifically designed for CVS. This facility is also available to CVS for future purchases of EV550 all-electric
double decker buses or other GreenPower products.
Ogden Point has established itself as Canada's busiest cruise port of call. Since 2002, cruise visits to Ogden
Point have more than doubled and cruise passengers have more than tripled with 227 ships and more than 533,000 passengers visiting
between April and November in 2015. CVS offers tours to cruise ship passengers in its fleet of double decker buses, and it aims to
do so using only all-electric double decker buses by 2021.
Reducing the diesel emissions, smell and noise from the buses presently servicing cruise
ships
The deployment of GreenPower’s zero-emission vehicles has found a welcome home in an area that has made
pollution mitigation a top priority. The latest Ogden Point Master Plan states that minimizing “negative impacts on the neighboring
community” is a key objective as part of the development of a “valuable cultural and recreational amenity for the region.” The
Greater Victoria Harbour Authority (“GVHA”), which oversees the cruise ship operations at Ogden Point, has set a goal of reducing
the diesel emissions, smell and noise from the buses presently servicing the cruise ships to “build a world-class tourism and
visitor experience.”
Located on First Nation lands, GVHA’s mission also includes “Recognizing, respecting, and communicating the
First Nation history of the area and developing the Site as a focal point for economic and cultural partnership with the Songhees
and Esquimalt Nations.”
“GreenPower is proud to be helping CVS in achieving the goals set by the GVHA by providing clean, quiet,
zero-emission transportation on double decker buses to tens of thousands of tourists while enhancing the air quality for the port’s
neighbors,” said GreenPower’s Chairman Fraser Atkinson. “This is also a significant milestone for GreenPower as we record our first
major sale.”
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor vehicles, including transit
buses, school buses, shuttles, and a double decker. GreenPower employs a clean-sheet design to manufacture all-electric buses
that are purpose built to be battery powered with zero emissions. GreenPower integrates global suppliers for key components,
such as Siemens or TM4 for the 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.
For further information contact:
GreenPower Motor Company
Fraser Atkinson, Chairman
(604) 220-8048
Elevator Communications, LLC
John Reed, Media Relations
(415) 846-4862
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. © 2018 GreenPower Motor Company
Inc. All rights reserved.
