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|ADOMANI and Blue Bird Enter into Exclusive Electric Drivetrain Supply Agreement for Type C and D School Bus Product Lines|
Blue Bird Type C and D Electric School Buses, with ADOMANI Electric Drivetrains, Expected to be in Production in 2018
CORONA, CA / ACCESSWIRE / October 30, 2017 / ADOMANI, Inc. (NASDAQ: ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, today announced it has signed an exclusive three-year supply agreement with BlueBird Corporation (BLBD), the nation's leading independent manufacturer of school buses. ADOMANI will provide Blue Bird with zero-emission electric drivetrains for use in their Type C and D school bus product lines. The supply agreement provides that Blue Bird will purchase all of its production requirements of such zero-emission electric drivetrains for use in their Type C and D school bus product lines exclusively from ADOMANI, although there are no minimum purchase requirements. Blue Bird's new electric-powered school buses are expected to be in production in 2018.
Jim Reynolds, President and CEO of ADOMANI, stated, "I have worked with Blue Bird for over 16 years and during that time have been a part of introducing CNG-, propane- and gasoline-powered school buses manufactured by Blue Bird to the California market. Now, we are taking the alternativefuel space to a new level with the introduction of an all-electric school bus from the premier school bus manufacturer in the United States. We are proud to play a part in producing a school bus that is powered by clean electricity and provides a significant reduction in greenhouse gas emissions and benefits our children, our communities and our environment at large. ADOMANI, by leveraging state-of-the-art drivetrain components, advanced battery technology and our outstanding engineering team, will help Blue Bird provide school districts and contractors with a safe, reliable, cost-effective zero-emissions transportation solution. With the growing global awareness of issues surrounding sustainability and renewable energy, the increasing availability of funding from government programs and other incentives, including funds from the unprecedented multibillion-dollar Volkswagen environmental mitigation trust, and the accelerating advancements in battery technology, the timing could not be more ideal."
"As the clear leader in alternative-fuel school bus solutions, the addition of an electric school bus drivetrain rounds out our portfolio," said Phil Horlock, President and CEO of Blue Bird Corporation. "Since unveiling our all-new electric bus chassis at the Student Transportation News conference in Reno in July, we are now putting our electric-powered school bus through rigorous testing and have demonstrated its on-road capabilities to a number of potential customers. The response to the vehicle's power, smooth ride and quietness, all with zero emissions, has been outstanding. As we celebrate our 90th anniversary this year, the timing of our all-new, zero-emission electric bus product line couldn't be better. We are excited to be bringing Blue Bird electric power to the school bus market next year!"
ADOMANI, Inc. (NASDAQ: ADOM) is a provider of zero-emission electric and hybrid vehicles and replacement drivetrains that is focused on reducingthe total cost of vehicle ownership. ADOMANI designs its drivetrain systems to help 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 advanced zero-emission electric and hybrid drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles. ADOMANI recently opened a new headquarters location in Corona, California and maintains an administrative office in Silicon Valley.
About Blue Bird Corporation:
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 inalternative 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.
Cautionary Statement Regarding Forward Looking Statements:
Statements made in this press release that relate to future plans, events, financial results, prospectus or performance 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 Securities and Exchange Commission, 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-lookingstatements to reflect new information, changed circumstances or unanticipated events.
Investor Relations Contacts:
Michael K. Menerey, Chief Financial Officer
Kevin Kanning, VP Investor Relations
James Carbonara, Hayden IR
SOURCE: ADOMANI, Inc.