GreenPower Hosting Display and Demonstration of All-Electric School and Transit Buses Today at U.S. Capitol

Rhea-AI Summary

GreenPower Motor Company (NASDAQ: GP) is hosting a demonstration of its all-electric school buses and transit vehicles at the U.S. Capitol today, June 15, 2022. The event, in collaboration with the Zero Emission Transportation Association, aims to educate Congress and officials about zero-emission vehicles. The Bipartisan Infrastructure Law offers $5 billion for the EPA’s Clean School Bus Program, with GreenPower’s Type D BEAST and Type A Nano BEAST eligible for significant rebates. The application for rebates closes on August 19, 2022.

Positive

• GreenPower is showcasing its all-electric school buses and transit vehicles at a high-profile event.
• The Bipartisan Infrastructure Law provides $5 billion for the Clean School Bus Program, indicating strong government support.
• Eligible GreenPower vehicles can receive rebates up to $375,000, driving potential sales.

Negative

• None.

WASHINGTON, June 15, 2022  /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of zero-emission, electric-powered, medium and heavy-duty vehicles, in conjunction with Zero Emission Transportation Association (ZETA), a federal coalition focused on advocating for 100% EV sales by 2030, will be hosting an educational display and demonstration of zero-emission, all-electric school buses and transit vehicles today from 9 a.m. to 4 p.m. EDT at the U.S. Capitol —West Curb of First Street, NW at Constitution Avenue, NW.

The display and demonstration will give members of Congress, Administration officials, industry stakeholders, and school district personnel an opportunity to learn more about electric school buses and transit vehicles that meet "Buy America" regulations.

The Bipartisan Infrastructure Law (BIL) provides significant funding opportunities for school districts and transit systems to migrate to electric vehicles. The BIL provides $5 billion in funding for the Environmental Protection Agency's (EPA) Clean School Bus Program over the next five years (FY 2022-2026) to replace existing school buses with zero-emission and low-emission models. The EPA is currently offering $500 million through the 2022 Clean School Bus Program as the first funding opportunity. The BIL also significantly increased funding available to help modernize public transit bus fleets and facilities across the country, which will support good-paying jobs and help reduce carbon emissions, leading to cleaner air, healthier communities, and better transportation.

Under the EPA program, GreenPower's Type D BEAST school bus is eligible for a rebate up to $375,000 for qualifying purchasers, and up to a $285,000 rebate for the Type A Nano BEAST. Online applications will close on August 19, 2022.

Members of Congress, Administration Officials and other interested parties and individuals are expected to be in attendance. Rep. Paul Tonko (D-NY) and Rep. Nanette Barragan (D-CA) will give remarks at a 9:15 am press conference along with West Virginia State Delegates Paul Espinosa and Christopher Toney, and Vic Sprouse, Federal Funds and Grants Director of the West Virginia Department of Economic Development. Moms Clean Air Force and other advocacy groups will make remarks as well.

Media and Investor Contacts:
Brendan Riley
GreenPower President
(510) 910-3377

Mark Nestlen
GreenPower Government Affairs
(405) 850-9571

Allie Potter
Skyya PR for GreenPower
(218) 766-8856
allie@skyya.com 

About GreenPower Motor Company
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van, and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com

Forward-Looking Statements
This document contains forward-looking statements relating to, among other things, GreenPower's business and operations and the environment in which it operates, which are based on GreenPower's operations, estimates, forecasts, and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower's control. A number of important factors, including those set forth in other public filings (filed under the Company's profile on www.sedar.com), could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. © 2022 GreenPower Motor Company Inc. All rights reserved.

 

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SOURCE GreenPower Motor Company

FAQ

What is the focus of GreenPower's demonstration at the U.S. Capitol on June 15, 2022?

The demonstration focuses on educating officials about GreenPower's all-electric school buses and transit vehicles.

What funding is available for the Clean School Bus Program?

The Bipartisan Infrastructure Law allocates $5 billion for the Clean School Bus Program, with $500 million available in 2022.

What rebates can buyers receive for GreenPower vehicles under the EPA program?

Buyers can receive up to $375,000 for the Type D BEAST and $285,000 for the Type A Nano BEAST.

When does the application for rebates for GreenPower vehicles close?

The application for rebates will close on August 19, 2022.

Who is collaborating with GreenPower for the Capitol event?

GreenPower is collaborating with the Zero Emission Transportation Association (ZETA) for the event.