Adomani (Nasdaq:ADOM), a provider of zero-emission and hybrid vehicle drivetrain solutions and electric vehicles, has announced the introduction of the Type D All Electric School Bus. The announcement was made with its partner, Blue Bird Corporation (Nasdaq:BLBD), an independent manufacturer of school buses.
Phil Horlock, President and CEO of Blue Bird, provided a brief summary at a trade show in Reno this week. Horlock stated that Blue Bird has a substantial leadership position in alternative-fueled school buses.
Jim Reynolds, President and CEO of Adomani, commented on the announcement;
"We are pleased to be working with Blue Bird, a trusted partner and long-time leader in the school bus industry, to help produce its first all-electric bus in two decades. This new Type D All-Electric School Bus will allow us to enter a new era of clean energy that will deliver a significant reduction in greenhouse gases. By leveraging state-of-the-art drivetrain and modern battery technology, we will be able to provide school districts and contractors with a reliable, cost-effective and zero-emissions transportation solution. This benefits our children, our communities and our environment at large."
Adomani recently raised growth capital using updated rules created under the JOBS Act of 2012. Adomani crowdfunded on Flashfunders under Reg A+ and then quickly listed its shares on the NASDAQ. Adomani was the first company to accomplish this task thus paving the way for future companies.
Today, shares in Adomani have traded significantly higher than the offer price under Reg A+.