Envirotech Vehicles Enters into Factory Authorized Representative Agreement with Joseph Holdings, Inc.
Envirotech Vehicles, Inc. (OTCQB:ADOM) has signed a Factory Authorized Representative Agreement with Joseph Holdings, Inc., expanding its reach into the Caribbean waste management market. Under the agreement, Joseph Holdings will promote and sell Envirotech's electric vehicles, starting with a purchase of at least one van and one truck. Joseph Holdings aims to invest in eco-friendly infrastructure and align with Barbados' goal of achieving a fossil-fuel-free economy by 2030. This partnership is expected to enhance market entry and support growth for both companies.
- Partnership with Joseph Holdings will facilitate market entry into the Caribbean.
- Joseph Holdings has a strong customer base and leasing capabilities.
- The agreement aligns with Barbados' green initiatives, potentially increasing demand for Envirotech's products.
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- Barbados-Based Waste Management Services Provider to Promote and Sell Envirotech Products Throughout Caribbean -
CORONA, CA / ACCESSWIRE / June 8, 2021 / Envirotech Vehicles, Inc. (OTCQB:ADOM) a provider of new zero-emission, purpose-built electric vehicles (the "Company"), today announced that it has entered into a Factory Authorized Representative Agreement (the "Agreement") with Joseph Holdings, Inc. ("Joseph Holdings"), a member of the Jose Y Jose Group of companies, allowing the Barbados based company specializing in waste management services to promote, sell and service Envirotech products throughout the Caribbean. Joseph Holdings is required to buy at least one van and one Class 4 or Class 5 truck at commencement of the Agreement. The vehicles will initially be used as demonstration vehicles and may also be sold to customers.
Joseph Holdings, through companies it owns and manages, is one of the largest providers of waste management and construction services in Barbados and the Caribbean. Joseph Holdings has a nine-year plan to invest in environmentally friendly infrastructure, vehicles and processes to help provide their waste handling solutions. In addition, Barbados recently announced its goal to become a fossil-fuel-free economy by 2030.
"This Agreement establishes a physical presence for us in the Caribbean with a like-minded, environmentally-conscious team with many contacts in multiple industries throughout the region. Anderson and his team are well-respected in all their industries," said Envirotech CEO Phillip Oldridge. "Joseph Holdings is the right partner for us as we enter the region with plans to expand, given their established customer base and leasing capabilities. We know they are expanding operations in the region, and our partnership will be a key catalyst to support our entry into the markets and to support their growth plans at the same time. We look forward to continuing to selectively sign deals like this to capitalize on the growing demand for EV commercial and last-mile vehicles."
"Our partnership with Mr. Oldridge and the EVTV team brings with it a viable solution to meeting our desire to be a key contributor to each of the region's governments' and agency's push to go green, and we are excited to be able to do that." said Anderson Cherry, Chairman of Joseph Holdings. He continued: "The EVTV products are well made, properly licensed & rated and meet a regional demand not only for an electric vehicle but an electric commercial class vehicle/truck. Our goal is to aggressively promote Envirotech products and offer the best service possible. We are confident that EVTV and Joseph Holdings will grow together and make EV commercial and last-mile vehicles a profitable asset for both the producer and consumer. We believe this niche will form part of our competitive advantage as we and Envirotech expand our presence in the region."
About Envirotech Vehicles
ADOMANI, Inc. (DBA Envirotech Vehicles) is a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. We serve commercial and last-mile fleets, school districts, public and private transportation service companies and colleges and universities to meet the increasing demand for light to heavy-duty electric vehicles. Our vehicles address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. For more information visit www.ADOMANIelectric.com.
About Joseph Holdings, Inc.
Joseph Holdings, Inc is a member of the Jose Y Jose Group of companies which is the largest group specializing in the waste management field in Barbados and in the Caribbean.
Joseph Holdings and the group it manages, offers Caribbean communities comprehensive services that include skip services, septic services, trenchless pipe/sewer line repairs, commercial construction including large scale earth moving equipment and concrete service, equipment rentals and waste diversion and recycling services including composting; . We are also swiftly moving toward renewable energy solutions.
As part of our overall corporate strategy, we are constantly guiding our businesses toward activities that will either bring us closer to completing/closing the cycle of our "impact of business", on our operating environments. Over the next 9 years, Joseph Holdings will invest heavily into answering the call of the Paris Agreement to implementing new/better waste handling solutions that ultimately contribute to the Caribbean achieving its green goals.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by ADOMANI, Inc. (DBA Envirotech Vehicles) with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expected," "believes," "strategy," "opportunity," "anticipated," "outlook," "designed," and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Envirotech Vehicles undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
Contact Information
Investor Relations Contacts:
IMS Investor Relations
John Nesbett/Jennifer Belodeau
Telephone: 203.972.9200
Email: jnesbett@imsinvestorrelations.com
Envirotech Vehicles
Michael K. Menerey, Chief Financial Officer
Telephone: (951) 407-9860 ext. 1205
Email: mike.m@EVTVUSA.com
SOURCE: Envirotech Vehicles, Inc.
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FAQ
What is the Factory Authorized Representative Agreement announced by Envirotech Vehicles (ADOM)?
How will the partnership with Joseph Holdings benefit Envirotech Vehicles (ADOM)?
What type of vehicles will Joseph Holdings initially purchase from Envirotech Vehicles (ADOM)?
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What is Barbados' goal related to fossil fuels that relates to Envirotech Vehicles (ADOM)?
