(TSX: NFI, OTC: NFYEF) NFI Group Inc. (“NFI” or
the “Company”), a leading independent bus and coach manufacturer
and a leader in mobility solutions, today announced that NFI
subsidiaries New Flyer of America Inc. (“New Flyer”) and Motor
Coach Industries (“MCI”) have collectively been named zero-emission
bus (“ ZEB”) partners of choice by a total of nine major transit
agencies across the United States for their successful project
awards from the Federal Transit Administration’s (“FTA”) 2021 Low
or No Emission (“Low-No”) Grant Program.
Following the FTA Notice of Funding Opportunity
published February 11, 2021, with grant awards announced June 25,
2021, NFI supported the successful applications for over $40
million in grants awarded to nine U.S. public transit agencies and
was specifically the named partner for the agency receiving the
largest award in 2021 of $7.4 million for 10 ZEBs.
Grant funds will support the procurement of
ZEB’s and the associated charging infrastructure from NFI. In
addition, at least $60 million of Low-No awards were made to
additional U.S. public transit agencies that have not yet named a
specific ZEB partner and where NFI will now compete for the
contracts.
Introduced in 2015, with the first disbursements
in 2016, the FTA Low-No Grant Program is a competitive application
process, and exists to support the nation’s transition to low- and
zero-emission fleets. Funding can be used to purchase or lease low-
and zero-emission buses, including acquisition, construction, and
leasing of the necessary charging infrastructure and facilities.
The FTA has now awarded U.S. public transit agencies Low-No grants
to procure NFI buses and charging infrastructure for six
consecutive years.
“The evolution to zero-emission mobility, or
what NFI calls the ZEvolution, begins with public
transit, and today’s announcement further demonstrates NFI’s
leadership in this market” said NFI’s President and Chief Executive
Officer, Paul Soubry. “Together with agencies across America, we
continue to drive forward zero-emission, clean and accessible
mobility. Our integrated offering of zero-emission buses,
infrastructure and connected technology has helped NFI create a
strong solution to meet customers’ needs and we are proud to be
selected as the partner of choice by such a large number of leading
U.S. transit agencies driving our best showing ever with the FTA
Low-No Grant Program.”
For more information on the FTA Low-No Grant
Program announcement for 2021, visit:
https://www.transit.dot.gov/funding/grants/fiscal-year-2021-low-or-no-emission-low-no-bus-program-projects
NFI has electric vehicles operating (or on
order) in more than 80 cities in five countries, and the Company’s
vehicles have completed over 40 million EV service miles. NFI
offers the widest range of zero-emission (battery, trolley and fuel
cell) electric buses and coaches available.
Today, NFI supports growing North American
cities with scalable, clean, and sustainable mobility solutions
through a four-pillar approach that includes buses and coaches,
technology, infrastructure, and workforce development. It also
operates the Vehicle Innovation Center (“VIC”), the first and only
innovation lab of its kind dedicated to advancing bus and coach
technology and providing workforce development. Since opening late
2017, the VIC has hosted over 300 interactive events, welcoming
3,000 industry professionals for EV and infrastructure training.
For more information, visit newflyer.com/VIC.
About NFI
Leveraging 450 years of combined experience, NFI
is leading the electrification of mass mobility around the world.
With zero-emission buses and coaches, infrastructure, and
technology, NFI meets today’s urban demands for scalable smart
mobility solutions. Together, NFI is enabling more livable cities
through connected, clean, and sustainable transportation.
With 8,000 team members in nine countries, NFI
is a leading global bus manufacturer of mass mobility solutions
under the brands New Flyer® (heavy-duty transit buses), MCI® (motor
coaches), Alexander Dennis Limited (single and double-deck buses),
Plaxton (motor coaches), ARBOC® (low-floor cutaway and medium-duty
buses), and NFI Parts™. NFI currently offers the widest range of
sustainable drive systems available, including zero-emission
electric (trolley, battery, and fuel cell), natural gas, electric
hybrid, and clean diesel. In total, NFI supports its installed base
of over 105,000 buses and coaches around the world. NFI common
shares are traded on the Toronto Stock Exchange under the symbol
NFI. News and information is available at www.nfigroup.com,
www.newflyer.com, www.mcicoach.com, www.arbocsv.com,
www.alexander-dennis.com, and www.nfi.parts.
Forward-Looking Statements
This press release contains certain
forward-looking statements which reflect the expectations of
management regarding NFI’s, New Flyer’s and MCI’s future growth,
performance, business prospects and sales opportunities. These
forward-looking statements reflect management’s current
expectations regarding future events, operating performance and
opportunities and speak only as of the date of this press release.
Forward-looking statements involve significant risks and
uncertainties, should not be read as guarantees of future events,
performance or results, and will not necessarily be accurate
indications of whether or not or the times at or by which such
events, performance or results will be achieved. Actual results may
differ materially from management expectations as projected in such
forward-looking statements for a variety of reasons, including
market and general economic conditions and economic conditions of
and funding availability for transit agencies to purchase buses,
parts or services; the COVID-19 pandemic will likely adversely
affect operations of transit agencies and may adversely impact or
delay decisions to purchase buses and services and adversely impact
or delay the match portion of funding for which transit agencies
are responsible to purchase buses and services; there is no
guarantee that transit agencies awarded grants under the Low-No
Grant Program will award contracts or draw upon all or any of the
grant funds awarded to purchase buses, products or services from
NFI, New Flyer or MCI or from any other original equipment
manufacturer; transit agencies are not obligated to use the Low-No
Grant funds awarded to only purchase transit buses, products or
services or to purchase transit buses, products or services
exclusively from New Flyer or MCI; the fleet and infrastructure
plans of transit agencies may change or require different
technologies than those that were originally included in the Low-No
Grant proposal; the transit agency desiring to utilize a Low-No
Grant and New Flyer or MCI may be unable to agree on contractual
terms for the purchase of buses and/or services; transit agencies
may not exercise options to purchase additional buses or services;
transit agencies typically have the ability to suspend or terminate
contracts for convenience; and the other risks and uncertainties
discussed in the materials filed with the Canadian securities
regulatory authorities and available on SEDAR at www.sedar.com. Due
to the potential impact of these factors, NFI disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, unless required by applicable law.
For media inquiries, please contact: Lindy
Norris P:
320.406.3386 Lindy_Norris@newflyer.com
For investor inquiries, please contact:Stephen
KingP: 204.224.6382Stephen.King@nfigroup.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7fb3af93-3e24-4d14-b1c1-9949a7a695e9
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