|ADOMANI Named as Blue Bird Corporation's Drivetrain Technology Partner on US Department of Energy Electric School Bus Grant|
CORONA, CA / ACCESSWIRE / March 13, 2018 / ADOMANI, Inc. (NASDAQ: ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, has announced its participation in a US Department of Energy (DOE) Grant award with Blue Bird Corporation.
In December of 2016, the Department of Energy announced that they would be awarding $15M to organizations in an effort to accelerate the adoption of advanced and alternative fuel vehicles. Blue Bird Corporation, a premier school bus manufacturer located in Fort Valley, GA, was presented the largest award of $4.4M towards the development of a zero-emissions, 100% electric school bus with vehicle-to-grid (V2G) capabilities. The Blue Bird Vision electric bus drivetrain systems will be developed in conjunction with California-based ADOMANI, Inc., along with their technology partner, Efficient Drivetrains, Inc. (EDI). The primary DOE grant objective is to develop a production-ready, industry-leading, energy-efficient electric drivetrain (kW energy use per mile) with high-rate export power (V2G) capabilities for use in Type C school bus applications.
"We will have zero-emission electric school buses for delivery to customers this year," says Phil Horlock, President, and CEO of Blue Bird Corporation. "We are excited to be in this new and exclusive partnership with ADOMANI and their drivetrain technology partner, EDI, and look forward to bringing this bus to market in 2018. All attributes required in the DOE award, including V2G capability, will be available in 2019."
Kevin Matthews, Managing Director for National Strategies, whose firm developed the application and will serve as project manager, stated that "This project will take us far down the road to deploying and operating a Zero Emission School Bus that is cost-effective for school districts across the United States. We thank the DoE for this award and applaud Blue Bird's leadership in this arena."
Combined with matching funding from other public and private entities in California, the total project funding will be over $9M and result in a demonstration fleet deployed in California by 2019.
"Understanding the new electric fleet vehicle experiences of our early adopters will be critical to our success. We've assembled an experienced team of drivetrain engineers, sales professionals with proven success in new product introductions (CNG, Propane, etc.) and after-sale, service-oriented personnel," said ADOMANI CEO Jim Reynolds. "As a unique and valuable benefit to working with ADOMANI and our OEM partners, we've also built a synergistic network with country-wide reach to proactively assist our customers in identifying and accessing funding and partnership opportunities."
ADOMANI, Inc. (NASDAQ: ADOM) is a provider of zero-emission electric and hybrid vehicles and replacement drivetrains that is focused on reducing the total cost of vehicle ownership. ADOMANI helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance. ADOMANI designs manufacture and install advanced zero-emission electric and hybrid drivetrain systems for use in new school buses and medium to heavy-duty commercial fleet vehicles.
About Blue Bird:
Celebrating over 90 years in business, Blue Bird (BLBD) is the leading independent designer and manufacturer of school buses, with more than 550,000 buses sold since its formation in 1927 and approximately 180,000 buses in operation today. Blue Bird's longevity and reputation in the school bus industry have made it an iconic American brand. Blue Bird distinguishes itself from its principal competitors by its singular focus on the design, engineering, manufacture, and sale of school buses and related parts. As the only manufacturer of chassis and body production specifically designed for school bus applications, Blue Bird is recognized as an industry leader for school bus innovation, safety, product quality/reliability/durability, operating costs and drivability. In addition, Blue Bird is the market leader in alternative fuel applications with its propane-powered and compressed natural gas-powered school buses. Blue Bird manufactures school buses at two facilities in Fort Valley, Georgia. Its Micro Bird joint venture operates a manufacturing facility in Drummondville, Quebec, Canada. Service and after-market parts are distributed from Blue Bird's parts distribution center located in Delaware, Ohio. For more information on Blue Bird's complete line of buses, visit www.blue-bird.com.
Efficient Drivetrains, Inc. (EDI) develops and markets a range of state-of-the-art PHEV and EV drivetrain solutions worldwide. EDI's leading-edge hybrid-electric and electric drivetrain systems and technologies enable OEMs to meet zero-emissions requirements while providing significant cost and efficiency advantages across nearly all platform classes and configurations. EDI is currently active in automotive projects throughout North America and the APAC region. Visit www.efficientdrivetrains.com for more information.
Statements made in this press release that relate to future plans, events, financial results, prospectus or performance, including with respect to the proposed offering and the intended use of the proceeds of the offering, are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in ADOMANI's reports filed with the SEC and the "Risk Factors" section of its registration statement on Form S-1, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," "outlook," "designed," and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, ADOMANI undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
Michael K. Menerey, Chief Financial Officer
Investor Relations Contact:
Kevin Kanning, VP Investor Relations
James Carbonara, Hayden IR
SOURCE: ADOMANI Inc.