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

Rhea-AI Summary

Envirotech Vehicles (OTCQB:ADOM) announced on October 8, 2021, that it received a $97,750 voucher from the New Jersey Zero Emissions Incentive Program for a Class 4 logistics van. This marks the third voucher approval since August, contributing to a total of 12 vehicles funded through the program, amounting to $1,131,250. The NJ ZIP program, a $15 million initiative, aims to support businesses transitioning to zero-emission vehicles, especially in communities impacted by transportation emissions.

Positive

• Received a $97,750 voucher from NJ ZIP for a Class 4 logistics van.
• Total of $1,131,250 granted for 12 vehicles under NJ ZIP.
• Third voucher approval since August 2021, indicating growing demand.

Negative

• None.

CORONA, CA / ACCESSWIRE / October 8, 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 logistics vans to another of its customers. To date, under this program the Envirotech Vehicles' customers have received voucher grants toward the purchase of 12 vehicles with a total value of $1,131,250.

"This is our third voucher approval announcement since August as a vendor for the NJ ZIP program," commented Philip Oldridge, CEO of Envirotech Vehicles. "It's encouraging to see so many businesses looking to transition to zero-emissions vehicles. We are pleased to be able to assist yet another customer in their transition to green transportation and look forward to continue providing our best-in-class fleet of electric trucks and vans to businesses across New Jersey."

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.

View source version on accesswire.com:
https://www.accesswire.com/667324/New-Jersey-Zero-Emissions-Incentive-Program-Approves-Voucher-Purchase-for-One-Envirotech-Vehicle-Valued-at-a-97750

FAQ

What recent incentive did Envirotech Vehicles receive?

Envirotech Vehicles received a $97,750 voucher from the New Jersey Zero Emissions Incentive Program on October 8, 2021.

How many vehicles have been funded through the NJ ZIP program for Envirotech?

As of now, a total of 12 vehicles have been funded for Envirotech Vehicles through the NJ ZIP program.

What is the total value of the vouchers awarded to Envirotech Vehicles?

The total value of vouchers awarded to Envirotech Vehicles is $1,131,250.

What is the purpose of the NJ ZIP program?

The NJ ZIP program aims to support businesses in transitioning to zero-emission vehicles to reduce harmful emissions.