GreenPower Receives Orders for EPA-Funded School Buses from RWC Group for the Arizona Market

Rhea-AI Summary

GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) has received orders for six all-electric, zero-emission school buses from its Arizona dealer RWC Group. The orders, funded by the EPA Clean School Bus Program, are for three different school districts in Arizona. The orders include:

- Three Type D BEAST buses for Osborn School District #8 in Phoenix
- One Type D BEAST and one Type A Nano BEAST for Joseph City School District
- One Type D BEAST for Roosevelt School District No. 66 in Phoenix

The BEAST is a 40-foot Type D bus with seating for up to 90 passengers and a range of up to 150 miles. The Nano BEAST can seat up to 24 passengers with a range of up to 140 miles. Both models feature dual port charging and are designed specifically as all-electric vehicles.

Positive

• Received orders for six all-electric school buses from RWC Group for Arizona market
• Orders funded by EPA Clean School Bus Program, indicating government support
• BEAST model has a range of up to 150 miles and can seat up to 90 passengers
• Nano BEAST has a range of up to 140 miles and can seat up to 24 passengers
• Dual port charging standard on both models, with DC Fast Charging capabilities

Negative

• None.

Insights

Financial Analyst

GreenPower's recent orders for six electric school buses in Arizona represent a positive development for the company's market penetration. While the exact financial impact isn't disclosed, these orders demonstrate growing demand for GreenPower's products in the education sector. The EPA's Clean School Bus Program, with its $5 billion funding over five years, provides a substantial market opportunity for GreenPower. This news suggests the company is successfully capitalizing on government initiatives supporting clean transportation. However, investors should note that the scale of these orders is relatively small in the context of GreenPower's overall business. The company's ability to secure larger, more frequent orders will be important for significant financial growth.

Environmental Policy Expert

The EPA's Clean School Bus Program is driving a significant shift towards zero-emission vehicles in school transportation. GreenPower's success in securing these orders indicates its products are well-positioned to meet the program's requirements. This aligns with broader trends in environmental policy favoring electric vehicles. The diverse range of school districts adopting these buses - from Phoenix to smaller districts - suggests growing acceptance across different community sizes. However, the true environmental impact will depend on the energy sources powering these buses. Arizona's energy mix, which still includes a significant portion of fossil fuels, means the full emissions reduction potential may not be immediately realized. Overall, this represents a positive step in the transition to cleaner school transportation.

Automotive Technology Analyst

GreenPower's Type D BEAST and Type A Nano BEAST showcase advanced electric vehicle technology tailored for the school bus market. The unified structure with integrated aluminum body on a steel chassis represents a modern approach to EV design. The buses' range of 140-150 miles is adequate for most school routes, addressing range anxiety concerns. The dual charging capabilities, including DC Fast Charging, enhance operational flexibility. However, the wireless charging option, while innovative, may have practical application in the near term due to infrastructure constraints. The focus on safety features like high floors and flat designs demonstrates GreenPower's understanding of school bus-specific requirements. While technologically competitive, the long-term success will depend on reliability and total cost of ownership compared to traditional and other electric alternatives.

PHOENIX, Ariz., Sept. 18, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced it has received a series of orders for six GreenPower all-electric, purpose-built, zero-emission school buses from its Arizona dealer RWC Group. The school buses, funded under the EPA Clean School Bus Program, are for three different school districts in Arizona, and RWC Group is currently working on additional orders of GreenPower all-electric school buses funded by the Program.

"The GreenPower Type D BEAST and Type A Nano BEAST all-electric school buses are perfectly designed to meet the needs of school districts in Arizona," said Tom Hartman, General Manager – Bus for RWC Group. "The BEAST that was deployed earlier this year at the Phoenix Elementary School District No. 1 has performed as expected without any issues, getting kids to and from school in a safe, cleaner and sustainable fashion."

Under the orders placed by RWC, Osborn School District #8 in Phoenix will receive three Type D BEAST school buses, Joseph City School District will receive one Type D BEAST and one Type A Nano BEAST, and Roosevelt School District No. 66 in Phoenix will receive one Type D BEAST. All six buses are funded from grants awarded by the U.S. Environmental Protection Agency (EPA) under the Clean School Bus Program. The Clean School Bus Program was funded by the Bipartisan Infrastructure Law and has $5 billion in funding over five years to replace existing school buses with zero-emission and clean school buses.

"It is exciting to see more GreenPower all-electric school buses being purchased for Arizona schools," said GreenPower President and father Brendan Riley, who lives in the Phoenix area. "GreenPower's all-electric, purpose-built, zero-emission school buses have established the new standard of performance, safety and sustainability in the school bus market. At GreenPower we understand the importance of providing safe transportation for school children to and from school and for extra circular activities and are pleased to manufacture school buses that provide for that ride in a clean, healthy environment."

GreenPower's BEAST is a purpose-built, 40-foot Type D , zero-emission school bus with seating for up to 90 passengers. Designed from the ground up as an all-electric vehicle, the BEAST is a unified structure that features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium on a high strength steel Truss (bus) chassis. Its complete flat floor design allows for tracking with no obstacles, and the high floors keep students out of the crash zone. With a range of up to 150 miles, the BEAST has the largest pass-through storage of any school bus on the market. The dual port charging is standard, with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 85 kW, with wireless charging also available as an option.

The School Transportation News award-winning Nano BEAST has a standard 118 kwh battery pack and a range of up to 140 miles. Configured for up to 24 passengers, it features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium. The dual port charging is standard, with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 60 kW, with wireless charging also available as an option.

Contacts:

Brendan Riley, President
brendan@greenpowermotor.com 

Paul Start, Vice President of Sales – School Bus Group
paul.s@greenpowermotor.com

Mark Nestlen, Vice President of Business Development & Strategy
mark.n@greenpowermotor.com

About GreenPower Motor Company, Inc.
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 vans 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. 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. ©2024 GreenPower Motor Company Inc. All rights reserved.

 

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SOURCE GreenPower Motor Company

FAQ

How many GreenPower (GP) electric school buses were ordered for Arizona schools?

GreenPower (GP) received orders for six all-electric, zero-emission school buses from its Arizona dealer RWC Group for three different school districts in Arizona.

What is the range of GreenPower's (GP) BEAST electric school bus?

GreenPower's (GP) BEAST electric school bus has a range of up to 150 miles on a single charge.

How many passengers can the GreenPower (GP) Nano BEAST electric school bus accommodate?

The GreenPower (GP) Nano BEAST electric school bus can be configured to accommodate up to 24 passengers.

Which funding program is supporting the purchase of GreenPower (GP) electric school buses in Arizona?

The purchase of GreenPower (GP) electric school buses in Arizona is supported by the EPA Clean School Bus Program, which was funded by the Bipartisan Infrastructure Law.