Grande West Receives $5 Million USD Order for Vicinity(TM) CNG Buses

Rhea-AI Summary

Grande West Transportation Group (OTCQX:BUSXF) announced a new order for 17 Vicinity Compressed Natural Gas (CNG) buses valued at over $5 million, with delivery expected in Q4 2021. This order reflects the growing demand for clean energy alternatives in public transport, driven by government regulations targeting emissions reductions. CEO William Trainer highlighted the company’s focus on zero emission electric vehicles, noting strong interest in the Vicinity Lightning EV bus as the sector transitions towards sustainability.

Positive

• Received a new order for 17 CNG buses valued at over $5 million.
• Increased demand for clean energy buses aligns with government emissions regulations.
• Vicinity Lightning EV bus gaining attention as a sustainable transportation solution.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 25, 2021 / Grande West Transportation Group Inc. (TSXV:BUS)(OTCQX:BUSXF)(FRA:6LG) ("Grande West" or the "Company"), a leading supplier of electric, CNG, gas and clean diesel buses, today announced the receipt of a new order for 17 Vicinity™ Compressed Natural Gas (CNG) buses totaling more than $5 million. These buses are expected to be delivered in Q4 2021.

"As cities across North America transition their public transportation fleets to vehicles fueled by clean energy alternatives like electric and CNG, we expect to see additional strong demand for our CNG Vicinity bus line," said William Trainer, Founder and Chief Executive Officer of Grande West. "Government regulations are mandating a reduction in nitrogen oxide and greenhouse gas emissions - a natural tailwind for our CNG product line given compressed natural gas is the cleanest burning transportation fuel on the market today.

"In the coming years, stricter mandates will propel the transition to zero emission electric vehicles, where our Vicinity Lightning EV bus is rapidly gaining attention as the natural progression of a more sustainable public transportation system. We look forward to working closely with customers as we continue to tailor the next-generation of electric vehicles to their exacting needs," concluded Trainer.

About Grande West Transportation Group
Grande West Transportation Group (TSXV:BUS)(OTCQX:BUSXF)(FRA:6LG) is a leading supplier of electric, CNG, gas and clean-diesel buses for both public and commercial enterprise use in the U.S and Canada. The Company's flagship line of Vicinity™ buses, which maintain a dominant market share in Canada, are produced by the Company's world-class manufacturing partners or at the Company's Buy America Act compliant assembly facility in Washington state. Grand West's innovative Vicinity Lightning™ EV bus, enabled through a tier-1 strategic supply agreement with BMW batteries and components, seeks to lead the global transition to more sustainable transit vehicles in the private and public markets. For more information, please visit www.grandewest.com or www.vicinitybus.com for product details.

Company Contact:
John LaGourgue
VP Corporate Development
604-288-8043
IR@grandewest.com

Investor Relations Contact:
Lucas Zimmerman or Mark Schwalenberg, CFA
MZ Group - MZ North America
949-259-4987
BUS@mzgroup.us
www.mzgroup.us

Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the use of proceeds from the Private Placement, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from Grande West's expectations include uncertainties relating to the receipt of final approval from the TSX-V; and other risk and uncertainties disclosed in Grande West's reports and documents filed with applicable securities regulatory authorities from time to time. Grande West's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Grande West assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE: Grande West Transportation Group

View source version on accesswire.com:
https://www.accesswire.com/637325/Grande-West-Receives-5-Million-USD-Order-for-VicinityTM-CNG-Buses

FAQ

What is the recent order announced by Grande West Transportation Group for BUSXF?

Grande West announced a new order for 17 Vicinity CNG buses, valued at over $5 million, expected to be delivered in Q4 2021.

How does the order impact Grande West's position in the market for BUSXF?

The order reflects increasing demand for clean energy buses, aligning with regulatory trends and enhancing Grande West's market position.

What are the future expectations for Grande West's electric vehicles for BUSXF?

CEO William Trainer indicated that stricter regulations will drive demand for zero emission electric vehicles, with the Vicinity Lightning EV bus attracting significant attention.