Blue Bird Commends EPA’s Clean School Bus Rebate Funding Awards to Accelerate Adoption of Zero-Emission Student Transportation

Rhea-AI Summary

The U.S. Environmental Protection Agency (EPA) has announced funding for over 2,400 clean school buses, with 95% being electric. This initiative prioritizes low-income, rural, and Tribal communities, enhancing access to sustainable transportation. Blue Bird Corporation (NASDAQ: BLBD), a leader in electric school buses, supports this initiative and aims to expand production to 20 electric buses daily by the end of 2023. The funding is part of a $5 billion program aimed at replacing diesel buses and establishing necessary infrastructure, supporting approximately 2,000 jobs.

Positive

• Supports the transition to electric school buses, increasing production to 20 vehicles a day by end of 2023.
• Enhances funding access for low-income and rural school districts, ensuring equity in clean transportation.
• Expected to sustain approximately 2,000 jobs due to increased manufacturing activities.

Negative

• None.

U.S. Environmental Protection Agency to Fund Over 2,400 Clean School Buses and Charging Infrastructure Spanning All 50 U.S. States

MACON, Ga.--(BUSINESS WIRE)-- Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and low-emission school buses, applauds today’s announcement by the U.S. Environmental Protection Agency (EPA) to award landmark funding for over 2,400 clean school buses to school districts spanning all 50 U.S. states, several Tribes and U.S. territories. 95 percent of the buses will be electric, zero-emission vehicles.

The EPA selected 389 applications prioritizing low-income, rural, and Tribal communities. The vast majority of recipients meet the priority definition under the EPA’s 2022 Clean School Bus Rebates program, resulting in access to more funds for buses and electric vehicle infrastructure for schools in areas that need them the most.

“Today’s historic funding announcement by the EPA accelerates the adoption of clean student transportation in the United States. It's a major step to reduce harmful greenhouse gas emissions and to put student and community health first,” said Matthew Stevenson, president and CEO, Blue Bird Corporation. ”As the industry leader in zero- and low-emission school buses, Blue Bird continues to expand electric school bus production to 20 vehicles a day by the end of 2023 to meet increasing U.S. demand.”

The 2022 Clean School Bus Rebate Program is part of the Bipartisan Infrastructure Law (BIL) which provides a total of $5 billion over five years for clean school bus transportation. In September 2022, EPA announced it had nearly doubled the amount of first round funding to $965 million. The rebate program accelerates the replacement of diesel-powered school buses with zero- and low-emission school buses. The funds will also assist school districts and other eligible participants to establish the required clean energy infrastructure.

Blue Bird is the only U.S.-owned and operated school bus manufacturer in the United States. The company manufactures its school buses in Fort Valley, Ga. The shift to clean student transportation helps Blue Bird sustain approx. 2,000 good-paying jobs.

About Blue Bird Corporation

Blue Bird (NASDAQ: BLBD) is recognized as a technology leader and innovator of school buses since its founding in 1927. Our dedicated team members design, engineer and manufacture school buses with a singular focus on safety, reliability, and durability. Blue Bird buses carry the most precious cargo in the world – the majority of 25 million children twice a day – making us the most trusted brand in the industry. The company is the proven leader in low- and zero-emission school buses with more than 20,000 propane, natural gas, and electric powered buses in operation today. Blue Bird is transforming the student transportation industry through cleaner energy solutions. For more information on Blue Bird's complete product and service portfolio, visit www.blue-bird.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005631/en/

Julianne Barclay

TSN Communications

M: +1.267.934.5340

E: julianne@tsncommunications.com

Source: Blue Bird Corporation

FAQ

What is the recent funding announcement by the EPA regarding Blue Bird Corporation (BLBD)?

The EPA announced funding for over 2,400 clean school buses, with 95% being electric, benefiting various school districts across the U.S.

How does the EPA funding affect Blue Bird Corporation's production plans?

Blue Bird plans to increase production of electric school buses to 20 vehicles a day by the end of 2023 in response to rising demand.

What is the total funding amount for the Clean School Bus Program announced by the EPA?

The Clean School Bus Program is part of a $5 billion initiative over five years to replace diesel buses with low and zero-emission alternatives.

How many jobs does Blue Bird Corporation expect to sustain with the new funding initiative?

Blue Bird expects to sustain approximately 2,000 good-paying jobs as a result of increased manufacturing for electric school buses.