New Jersey Zero Emissions Incentive Program Approves Additional Voucher Purchase for One Envirotech Vehicle Valued at $97,750

Rhea-AI Summary

Envirotech Vehicles, Inc. (OTCQB:ADOM) announced a $97,750 voucher approval from the New Jersey Zero Emissions Incentive Program for a Class 4 urban truck sale. This marks the fourth voucher approval, totaling $1,229,000 for 13 vehicles to date. The NJ ZIP program aims to support businesses in transitioning to zero-emission vehicles, offering up to $100,000 per vehicle. Funded by the Regional Greenhouse Gas Initiative, it focuses on reducing emissions and fostering economic opportunities.

Positive

• Received a $97,750 voucher, increasing total voucher value to $1,229,000 for 13 vehicles.
• Actively participating in NJ ZIP program supports market growth and aligns with environmental goals.

Negative

• None.

CORONA, CA / ACCESSWIRE / October 11, 2021 / Envirotech Vehicles, Inc. (OTCQB:ADOM), a provider of new zero-emission, purpose-built electric vehicles (the "Company"), announced today that the New Jersey Zero Emissions Incentive Program ("NJ ZIP or the "Program") has awarded a voucher with a total value of $97,750 toward the purchase of one of the Company's Class 4 urban trucks to another of its customers. To date, under this program the Envirotech Vehicles' customers have received voucher grants toward the purchase of 13 vehicles with a total value of $1,229,000.

Philip Oldridge, CEO of Envirotech Vehicles, commented, "This voucher approval marks our fourth voucher approval announcement as an approved vendor for the NJ ZIP program. Businesses all across New Jersey continue to make the switch to environmentally friendly, zero-emission transportation alternatives and we applaud their initiative and remain ready to assist in their transition."

NJ ZIP is a $15 million pilot voucher program that supports businesses and institutions purchasing new, zero-emission vehicles operating in the greater Newark and greater Camden areas by offering up to $100,000 towards the purchase of battery-electric vehicles. The Program funds 100 to 300 vouchers ranging in value from $25,000 to $100,000 for businesses and institutional organizations looking to transition their fleets to zero emissions. Bonuses are available for small businesses and minority-, women-, and veteran-owned businesses. NJ ZIP is funded by proceeds allocated to the New Jersey Economic Development Authority ("NJEDA") by the Regional Greenhouse Gas Initiative ("RGGI") for the purposes of reducing harmful emissions, especially in communities disproportionately impacted by transportation emissions, and creating economic opportunity within the state.

About Envirotech Vehicles

Envirotech Vehicles, Inc. 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 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.EVTVUSA.com.

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 Envirotech Vehicles, Inc. (formerly known as ADOMANI, Inc.) 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

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 value of the new voucher announced by Envirotech Vehicles (ADOM)?

The new voucher announced is valued at $97,750.

How many vehicles have Envirotech Vehicles (ADOM) sold under the NJ ZIP program?

Envirotech Vehicles has sold a total of 13 vehicles under the NJ ZIP program.

What is the total value of vouchers received by Envirotech Vehicles (ADOM) to date?

The total value of vouchers received by Envirotech Vehicles to date is $1,229,000.

What does the NJ ZIP program support for Envirotech Vehicles (ADOM)?

The NJ ZIP program supports the transition to zero-emission vehicles for businesses in New Jersey.

What is the maximum voucher amount available through the NJ ZIP program?

The maximum voucher amount available through the NJ ZIP program is $100,000.