FTA awards Low or No Emission program grants to 10 communities for Proterra electric transit buses and EV technology

Rhea-AI Summary

Proterra Inc (NASDAQ: PTRA) announced that 10 transit agencies have received Federal Transit Administration (FTA) Low or No Emission Program Grants to acquire Proterra electric transit buses and charging infrastructure. This marks the sixth consecutive year that FTA has awarded such grants under the FAST Act, highlighting Proterra's commitment to zero-emission transportation. The company's electric buses save approximately 230,000 pounds of greenhouse gases annually and have displaced over 100 million pounds of CO2 emissions. Proterra's battery systems power over 650 vehicles with more than 20 million service miles.

Positive

• Awarded FTA Low-No grants to 10 transit agencies highlights business growth.
• Supports transition to zero-emission fleets, enhancing market position.
• Proterra's EV technology has powered over 650 vehicles, demonstrating reliability.

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• None.

BURLINGAME, Calif., June 29, 2021 /PRNewswire/ -- Proterra Inc (NASDAQ: PTRA), a leading innovator in commercial vehicle electrification technology, today announced that 10 transit agencies have been awarded Federal Transit Administration (FTA) Low or No Emission Program Grants (Low-No) to procure Proterra electric transit buses, charging infrastructure, and Proterra Powered low-floor shuttles in partnership with Optimal Electric Vehicles, LLC (Optimal-EV).

Today's announcement underscores Proterra's ability to deliver comprehensive fleet electrification solutions to commercial vehicle customers with the company's EV technology. It marks the sixth consecutive year under the Fixing America's Surface Transportation (FAST) Act that the FTA has awarded transit agencies Low-No grants to procure Proterra buses and charging systems.

"The road to building the future of zero emission transportation in the U.S. begins with public transit. Proterra is proud to support transit agencies across the country to deliver clean transportation solutions that can accelerate the switch to zero-emission, battery-electric commercial vehicle fleets," said Proterra CEO Jack Allen.

Powering over 650 vehicles on the road today, Proterra's battery systems have been proven through more than 20 million service miles driven by the company's all-electric transit buses and have been selected by world-class commercial vehicle manufacturers to power low-floor shuttles, delivery trucks, school buses, coach buses, and construction equipment.

Proterra transit buses feature zero tailpipe emissions, saving approximately 230,000 pounds of greenhouse gases annually when replacing a diesel bus. The company's fleet of zero-emission, electric transit buses have displaced over 100 million pounds of CO2 tailpipe emissions.

Last year, Proterra and Optimal EV announced an agreement to leverage Proterra's best-in-class battery technology for the development of an all-electric S1LF low-floor cutaway shuttle bus for the North American market. The Proterra battery system powering the S1LF features 113 kWh of energy capacity and an all-electric, zero-emission drive system that is designed to enable more than 125 miles of driving range. 

Proterra also offers turn-key charging infrastructure solutions for heavy-duty fleets through the company's Proterra Energy business.

A cornerstone of the Fixing America's Surface Transportation (FAST) Act, Low-No grants support the deployment of transit buses and infrastructure that use advanced technologies. Eligible projects include those that replace, rehabilitate, lease or purchase low or no emission buses and bus-related equipment and facilities.

About Proterra

Proterra is a leader in the design and manufacture of zero-emission electric transit vehicles and EV technology solutions for commercial applications. With industry-leading durability and energy efficiency based on rigorous U.S. independent testing, Proterra products are proudly designed, engineered, and manufactured in America, with offices in Silicon Valley, South Carolina, and Los Angeles.

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SOURCE Proterra

FAQ

What recent grants were awarded to Proterra (PTRA)?

Proterra was awarded FTA Low or No Emission Program Grants to 10 transit agencies for electric buses and charging infrastructure.

How does Proterra's technology impact greenhouse gas emissions?

Proterra's electric buses save approximately 230,000 pounds of greenhouse gases annually.

What is Proterra's role in the FTA Low-No grant program?

Proterra has been recognized for six consecutive years under the FAST Act for its contributions to low or no emission transit solutions.

How many vehicles does Proterra currently power?

Proterra's battery systems power over 650 vehicles on the road.

What is the significance of the FAST Act for Proterra (PTRA)?

The FAST Act facilitates funding for advanced technology transit solutions, benefiting Proterra's business growth.