SOURCE: GreenPower Motor Company Inc.

GreenPower Motor Company Inc.

August 14, 2017 09:00 ET

GreenPower Provides Update on its Synapse 72 All-Electric School Bus Demonstration Tour with School Bus Sales of California, Inc.

Eleven Commitments Secured for GreenPower's Synapse 72 School Bus from Six School Districts in Both the South Coast and North Coast Grant Programs

PORTERVILLE, CA--(Marketwired - August 14, 2017) - GreenPower Motor Company Inc. (TSX VENTURE: GPV) (OTCQX: GPVRF) ("GreenPower" or the "Company") is providing an update on its demonstration tour with its California factory direct dealer, School Bus Sales of California, Inc., (an ADOMANI, Inc. (NASDAQ: ADOM) owned company) of its Synapse 72 all-electric Type D school bus to school districts and charter schools in the State of California.

GreenPower and School Bus Sales of California have been giving demonstrations of the Synapse 72 all-electric school bus to school districts and charter schools that were selected by the South Coast Air Quality Management District ("South Coast") and the North Coast Unified Air Quality Management District ("North Coast") for funding directly tied to the purchases of all-electric school buses.

To date, GreenPower and School Bus Sales of California have secured commitments for eleven Synapse 72 school buses from six different school districts in the South Coast and North Coast districts. As part of the approval and purchase process, these school districts have advised the South Coast or North Coast of their intention to acquire the Synapse 72 and, where applicable, have asked School Bus Sales of California to apply to reserve funds from the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project ("HVIP") voucher project. A number of these school districts are also evaluating their long-term charging requirements in order to accommodate an even larger fleet of all-electric school buses than their initial secured order.

The South Coast AQMD has currently approved awards for Type C or Type D school buses and the associated charging infrastructure to select school districts. To be eligible for funding, an applicant must receive approval for HVIP funds from the California Air Resources Board ("CARB"). Including the HVIP voucher amount, the South Coast funds will be used to pay for the balance of the electric school bus up to a total of $368,000 plus another $20,000 for the related charging infrastructure. For the North Coast, the funding for a zero-emission school bus can be up to $400,000 with an additional $5,000 for the related infrastructure.

GreenPower and School Bus Sales of California are waiting for the distribution of grant agreements and completion of the HVIP process in order to move forward with these orders, and they expect purchase orders to be completed by September.

GreenPower's Synapse 72 all-electric Type D school bus has already been approved by CARB for the HVIP voucher, which provides for up to $110,000 for each Synapse 72 sold for use in a disadvantaged community in the State of California.

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.

About School Bus Sales of California, Inc.

School Bus Sales of California Inc., is a wholly-owned, new vehicle distribution focused division of ADOMANI, Inc. (NASDAQ: ADOM) a provider of zero-emission electric and hybrid vehicles and replacement drivetrains that is focused on reducing the total cost of vehicle ownership. School Bus Sales of CA assists school bus fleet operators in unlocking the benefits of green technology and addressing the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance.

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 "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, such as the regulations and requirements in different jurisdictions. 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. All amounts in U.S. dollars. © 2017 GreenPower Motor Company Inc. All rights reserved.

Contact Information

  • For further information contact:
    Fraser Atkinson
    Chairman
    (604) 220-8048