PORTERVILLE, Calif., Aug. 14, 2018 (GLOBE NEWSWIRE) -- GreenPower Motor Company Inc. (TSXV: GPV) (OTCQX: GPVRF)
(“GreenPower”) has received payment for the next three EV350 all-electric transit buses for the City of Porterville (“the City”),
bringing the total electric bus fleet to five. This represents the halfway mark for Porterville’s initial order of ten
zero-emissions transit buses. These buses will replace all of the existing CNG- (compressed natural gas) powered transit buses. The
EV350 was designed and built by California based GreenPower, a leading manufacturer of all-electric buses.
In addition, GreenPower has made significant progress on the last five EV350 all-electric transit buses, which
are set for delivery this fall.
Commenting on the delivery, Leslie Goodbody, Engineer, Innovative Heavy-Duty Strategies, Mobile Source Control
Division of the California Air Resources Board (which provided the California Climate Investments grant funding to the City for
purchasing the new buses), said: “GreenPower is exceeding our expectations in meeting delivery schedules. Having another
manufacturer competing in the electric transit bus market shows the industry’s commitment to helping California move transit to
zero-emission.”
The City of Porterville is located in the San Joaquin Valley, which has some of the worst air pollution in the
United States. The benefits of deploying the EV350 all-electric buses include cleaner air and quieter operation.
“The City of Porterville is pleased to receive the next three GreenPower buses that will comprise its
all-electric transit fleet,” stated John Lollis, City Manager for the City of Porterville. “Now with five of the ten new buses
received, we can begin to firmly imagine the benefit these buses will provide to the Porterville community, not only for its
zero-emission air quality contribution, but also for their quiet and smooth ride that will improve rider experience. We eagerly
look forward to the full complement of ten buses this Fall, which in partnership with GreenPower Motor Company, will begin the
full-implementation of our all-electric transit fleet.”
Richard Tree, Transit Manager for the City of Porterville, added: “Porterville Transit's long-term mission is to
provide reliable, sustainable, and clean transportation to Porterville residents. We're proud to partner with GreenPower
to introduce these zero-emission buses into our fleet. These electric buses will significantly reduce emission and maintenance
costs today and for years to come.”
The City’s route requirements range from 190 miles to 230 miles each weekday. GreenPower configured these buses
with 432 kWh of batteries (standard configuration is 320 kWh) to handle these requirements. The price of each bus fully configured
is approximately $820,000; the City of Porterville received grant funding to cover the cost of the new all-electric buses.
“Our proven bus technologies are serving an expanding group of stakeholders with clean, emissions-free
transportation. Many cities are implementing programs to improve their air quality and reduce noise pollution. Our buses provide a
compelling option for the growing number of cities seeking clean, reliable, quiet transit systems,” said GreenPower’s President
Brendan Riley.
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.
About California Climate Investments
Porterville purchased the GreenPower buses with a grant from California Climate Investments, a statewide program
that puts billions of cap-and-trade dollars to work reducing greenhouse gas emissions, strengthening the economy and improving
public health and the environment — particularly in disadvantaged communities. The cap-and-trade program also creates a financial
incentive for industries to invest in clean technologies and develop innovative ways to reduce pollution. California Climate
Investments projects include affordable housing, renewable energy, public transportation, zero-emission vehicles, environmental
restoration, more sustainable agriculture, recycling and much more. At least 35 percent of these investments are made in
disadvantaged and low-income communities. For more information, visit https://arb.ca.gov/caclimateinvestments.
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.
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 are
expressed in U.S. dollars. © 2018 GreenPower Motor Company Inc. All rights reserved.
For further information contact: GreenPower Motor Company Brendan Riley, President (510) 910-3377 Elevator Communications, LLC John Reed, Media Relations (415) 846-4862
