SOURCE: GreenPower Motor Company Inc.

GreenPower Motor Company Inc.

SOURCE: California Climate Investments

California Climate Investments

December 07, 2016 09:00 ET

The California Air Resources Board awards funding to the City of Porterville to deploy 10 GreenPower buses and charging infrastructure

PORTERVILLE, CA--(Marketwired - December 07, 2016) - GreenPower Motor Company Inc. (TSX VENTURE: GPV) (OTCQB: GPVRF) ("GreenPower" or the "Company") announced today that the California Air Resources Board ("CARB") has awarded $9.5 million to the City of Porterville to deploy 10 GreenPower EV350 40-foot zero-emission all-electric transit buses on all nine Porterville Transit routes, and to install the charging infrastructure including 11 charging stations.

"We look forward to working with GreenPower in replacing our aging active-fleet to 100% electric buses that produce zero emissions," stated Richard Tree, Transit Manager, Porterville Transit. "Substantial grants like this one are driving the entire industry forward, and making all-electric the new norm in public transportation, while playing a significant role in accomplishing our mission to improve the environment in our community and the Valley."

CARB's award to the City of Porterville was one of only nine awards from the highly competitive Zero-Emission Truck and Bus Pilot Program. The grant award is part of California Climate Investments, a statewide program to reduce greenhouse gas emissions while providing clean-air benefits to California neighborhoods, with an emphasis on disadvantaged communities. California Climate Investments programs are funded by the Greenhouse Gas Reduction Fund using proceeds from the state's cap-and-trade auctions.

Projects like the one in Porterville are intended to help accelerate technology commercialization by placing significant numbers of zero-emission and near zero-emission trucks and buses in clusters as well as installing the infrastructure necessary to support the project vehicles. In addition, Porterville Transit will operate all of the new buses on routes in disadvantaged communities -- those most affected by air pollution -- providing zero-emission transportation to many citizens who are dependent on public transportation for their daily needs.

"With sincere gratitude to the support of the California Air Resources Board and the San Joaquin Valley Air Pollution Control District, and in partnership with GreenPower, the City of Porterville is excited at the unique opportunity for fleet-wide implementation of the latest in electric transit technology in service to our community," stated Milt Stowe, Mayor of Porterville. "We are thrilled by the commitment by GreenPower Motor Company to establish its manufacturing facility in Porterville and the hundreds of local jobs it will generate, in addition to the economic and technological benefit to the greater San Joaquin Valley."

GreenPower recently completed the acquisition of 9.3 acres in the City of Porterville, is working on the grading and development permits with the City and has started the design of the modular buildings for a multi-phased development of a manufacturing facility comprising 150,000 square feet.

"We are excited to be working with the City of Porterville on a system-wide deployment of our all-electric transit buses and charging infrastructure," said Fraser Atkinson, Chairman of GreenPower. "The Porterville project will serve as a model for other operators in the San Joaquin Valley Air Pollution Control District and across North America who are seeking to deploy not just a zero-emission vehicle, but a zero-emission solution."

About GreenPower Motor Company Inc.

GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets. GreenPower offers a range of electric powered buses deploying electric drive and battery technologies with a lightweight chassis and low floor or high floor body. GreenPower's bus is based on a flexible clean sheet design and utilizes a custom battery management system and a proprietary Flex Power system for the drive motors. GreenPower integrates global suppliers for key components such as Siemens for the two drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. 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. For further information go to www.greenpowerbus.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. 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 "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. These risks include the risk that: GreenPower may not receive all necessary approvals or financing to build the manufacturing facility in a timely fashion; GreenPower may not receive all necessary federal and state compliance approvals; the regulations and compliance standards may change such that GreenPower would not able to supply buses in the required timeframe; and such other risks and factors beyond the control of GreenPower. A number of important factors including those set forth in GreenPower's public filings (filed under GreenPower'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. All amounts in U.S. dollars. © 2016 GreenPower Motor Company Inc. All rights reserved.

Contact Information

  • Fraser Atkinson
    Chairman
    (604) 220-8048