New Jersey Zero Emissions Incentive Program Approves Voucher Purchase for Two Envirotech Vehicles Valued at a $150,000

Rhea-AI Summary

Envirotech Vehicles (OTCQB:ADOM) announced a $150,000 voucher approval from the New Jersey Zero Emissions Incentive Program for the purchase of two Class 4 logistics vans for the Newark Public Library. The program, which has granted a total of $1,033,500 for 11 vehicles so far, supports businesses transitioning to zero-emission vehicles in Newark and Camden. CEO Philip Oldridge expressed optimism about the growing demand for environmentally friendly vehicles. NJ ZIP is a $15 million initiative offering up to $100,000 in vouchers to encourage electric vehicle adoption in New Jersey.

Positive

• Awarded $150,000 voucher under NJ ZIP program for two vehicles.
• Previous total of $1,033,500 granted for 11 vehicles demonstrates successful demand.
• Program promotes zero-emission vehicle adoption, aligning with environmental trends.

Negative

• None.

CORONA, CA / ACCESSWIRE / October 7, 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 $150,000 toward the purchase of two of the Company's Class 4 logistics vans to the Newark Public Library. To date, under this program the Envirotech Vehicles' customers have received voucher grants toward the purchase of 11 vehicles with a a total value of $1,033,500.

"We are pleased to announce that we have received another voucher approval as a vendor for the NJ ZIP program," commented Philip Oldridge, CEO of Envirotech Vehicles. "We are encouraged by the initial demand for Envirotech's best-in-class fleet of electric trucks and vans through the NJ ZIP Program, and we look forward to continue providing our vehicles to the growing number of New Jersey businesses turning to environmentally friendly transportation alternatives."

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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https://www.accesswire.com/667147/New-Jersey-Zero-Emissions-Incentive-Program-Approves-Voucher-Purchase-for-Two-Envirotech-Vehicles-Valued-at-a-150000

FAQ

What is the value of the voucher awarded to Envirotech Vehicles by NJ ZIP?

Envirotech Vehicles received a $150,000 voucher from the New Jersey Zero Emissions Incentive Program (NJ ZIP).

How many vehicles have received vouchers under the NJ ZIP program?

To date, the NJ ZIP program has awarded vouchers for a total of 11 vehicles worth $1,033,500.

What is the purpose of the New Jersey Zero Emissions Incentive Program?

The NJ ZIP program supports businesses purchasing zero-emission vehicles to reduce harmful emissions in affected communities.

What types of vehicles does Envirotech Vehicles provide?

Envirotech Vehicles specializes in purpose-built zero-emission electric vehicles, including Class 4 logistics vans.

What does NJ ZIP offer to incentivize electric vehicle purchases?

NJ ZIP offers vouchers ranging from $25,000 to $100,000 for the purchase of battery-electric vehicles.