NEWPORT BEACH, Calif., June 21, 2017 (GLOBE NEWSWIRE) -- ADOMANI, Inc. (NASDAQ:ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions, and purpose built electric vehicles has taken delivery of its first All-Electric Type-D School Bus. The 72-passenger bus uses the latest electric drivetrain and battery technologies and meets certain California and federal requirements that must be satisfied in order to refer to the vehicle as “zero-emissions” which opens up grant and incentive funding opportunities. For example, the bus has already been awarded a place on the California Air Resources Board’s (CARB) Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project’s (HVIP) coveted Vehicle Eligibility List for a voucher amount of $95,000 and under certain circumstances up to $120,000. HVIP offers point-of-sale incentives for clean trucks and buses in California. HVIP dealers offer reduced-price vehicles directly to purchasers. Purchasers do not need to submit proposals, complicated paper work or wait to be reimbursed. Incentives are locked in at the time of the purchase order.
ADOMANI will be taking its bus on tour, beginning with California schools that have been selected by the South Coast Air Quality Management District and the thirteen successful applicants for the North Coast Unified Air Quality Management District for funding directly tied to the purchases of all-electric school buses.
“ADOMANI’s focus is on zero-emission drivetrain systems that are safe, reliable and durable, and that also potentially lower maintenance and fueling budgets and improve the air quality for the operators, student passengers and the communities where they operate,” said ADOMANI CEO Jim Reynolds. “Having extensive experience in this area, the ADOMANI team will be in attendance at the annual School Bus Transportation News (STN) Conference and Trade Show in Reno, Nevada in early July and plans to meet with interested transportation directors about their electric school bus options. It’s going to be an exciting event.”
About ADOMANI, Inc.
California-based ADOMANI, Inc. provides school bus and fleet operators with zero-emission vehicle and plug-in hybrid solutions. ADOMANI brings together proven electric drivetrain technology, customized products, and trusted service partners to cut total cost of ownership, boost vehicle reliability, and unlock the many benefits of green technology. For more information, visit www.adomanielectric.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. 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.
Tim Gnatek, Blue Practice
Investor Relations Contact:
Michael K. Menerey, Chief Financial Officer
Telephone: (626) 483-3280
Kevin Kanning, VP Investor Relations
Telephone: (650) 533-7629