GreenPower's Synapse 72 bus approved for HVIP voucher

2017-04-27 10:48 ET - News Release

Mr. Fraser Atkinson reports
CALIFORNIA AIR RESOURCES BOARD APPROVES GREENPOWER'S SYNAPSE 72 SCHOOL BUS FOR HVIP VOUCHER
GreenPower Motor Company Inc.'s Synapse 72 all-electric Type D school bus has been approved by the California Air Resources Board (CARB) for the hybrid and zero-emission truck and bus voucher incentive project (HVIP) for $95,000 for each Synapse 72 sold in the state of California.

"Utilizing GreenPower's high floor platform, clean sheet design and monocoque body, the Synapse{A ™} 72 is North America's first purpose built all-electric school bus," said Fraser Atkinson, Chairman of GreenPower. "The HVIP voucher can be combined with other incentives in the State of California making a compelling case for the purchase of our Synapse{A ™} 72 all-electric school bus by lowering the upfront costs and accelerating the payback period."

The South Coast Air Quality Management District ("SCAQMD") has set its agenda for its Board meeting on May 5, 2017 where they are proposing to approve awards for 33 electric Type C or Type D school buses and associated charging infrastructure to 16 public school districts and 2 charter schools for an amount not to exceed $8,844,000. To be eligible for funding, subsequent to the SCAQMD Board approval and prior to contract execution, the applicant must be approved by CARB under the HVIP voucher program. After factoring in the HVIP voucher, SCAQMD will provide additional funding for up to $248,000 for the purchase of an electric school bus.

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
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