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

Rhea-AI Summary

Envirotech Vehicles (OTCQX:EVTV) has received a voucher worth $97,750 from the New Jersey Zero Emissions Incentive Program for its Class 4 C5000 cutaway logistics van. This approval marks another step in the company’s role as an approved vendor for the program. To date, Envirotech's customers have secured vouchers totaling $2,749,000 for 32 vehicles. The program aims to support businesses transitioning to zero-emission vehicles and is funded by the New Jersey Economic Development Authority.

Positive

• Received a $97,750 voucher for the Class 4 C5000 logistics van.
• Total vouchers awarded to date amount to $2,749,000 for 32 vehicles.
• Continued to establish presence as an approved vendor for the NJ ZIP program.

Negative

• None.

OCESOLA, AR / ACCESSWIRE / June 10, 2022 / Envirotech Vehicles, Inc. (OTCQX:EVTV), 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 one voucher with a total value of $97,750 toward the purchase of one of the Company's Class 4 C5000 cutaway logistics vans. To date, under this program, Envirotech Vehicles' customers have received voucher grants toward the purchase of 32 vehicles with a total value of $2,749,000.

Phillip Oldridge, CEO of Envirotech Vehicles, commented, "We continue to gain traction as an approved vendor for the NJ ZIP program with yet another voucher approval for the purchase of one of our state-of-the-art Class 4 cutaway vans. We are pleased to be able to offer our vehicles to businesses throughout the state of New Jersey that are looking to modernize their fleets with environmentally friendly, zero-emission transportation alternatives, and we look forward to additional opportunities as an approved vendor of the Program."

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 intends to fund 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. 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: evtv@imsinvestorrelations.com

Envirotech Vehicles
Christian S. Rodich, Chief Financial Officer
Telephone: (951) 407-9860 ext. 1207
Email: christian.r@evtvusa.com

SOURCE: Envirotech Vehicles, Inc

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