OSCEOLA, AR / ACCESSWIRE / January 25, 2024 / Envirotech Vehicles, Inc. (NASDAQ:EVTV), ("EVTV" or "the Company"), announced today that the United States Environmental Protection Agency (EPA) has awarded EVTV $8.57 million for the provision of 25 of its Bumble Bee fully electric school buses. The awards are on behalf of eight school districts across Arkansas and Texas for which the Company acted as grant-writer during the competitive 2023 Clean School Bus (CSB) Grant Program application process.
Phillip Oldridge, Chief Executive Officer of Envirotech Vehicles, commented, "We are proud to have secured these awards for our Bumble Bee fully electric school bus on behalf of our eight school district partners. The EPA Clean School Bus Program is a distinguished and historic program that is serving to kickstart the much needed electrification of the school bus fleet in the United States. We look forward to playing a role in this by supporting our new partners in their endeavor to bring a cleaner, healthier form of transportation for the youth in their communities."
EVTV announced in November 2023 that it had launched its innovative Bumble Bee fully electric school bus for pre-order, with deliveries on track to begin in the third quarter of 2024. The vehicle features seating for up to 85 passengers including the driver and a full pass-through storage compartment, and will come in two variants, including a long range model.
On January 8, 2024, the EPA announced the selection of 67 applicants to receive nearly $1 billion through its first CSB Grants Competition. The awards will help recipients purchase more than 2,700 clean school buses, spanning across 280 school districts and 37 states. When combined with the inaugural installment in 2022 of the five-year EPA CSB Program, a total of nearly $2 billion has been awarded to fund the deployment of 5,000 electric and low-emission school buses across the United States. In addition to the CSB Grant program, the EPA opened up the application process for the 2023 CSB Rebate program in the fall of 2023. This program is expected to award at least $500 million in funding under the 2023 rebate program, with recipients expected to be notified in April 2024.
About Envirotech Vehicles
Envirotech Vehicles, Inc. is a provider of purpose-built, zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. EVTV serves commercial and last-mile fleets, school districts, public and private transportation service companies, and academic institutions to meet the increasing demand for heavy-duty electric vehicles. EVTV's vehicles address the challenges of traditional fuel-price cost instability and local, state and federal environmental regulatory compliance. For more information, visit www.evtvusa.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements. 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 reports filed by Envirotech Vehicles, Inc. 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," "expected," "believes," "strategy," "opportunity," "anticipated," "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, Envirotech Vehicles undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
Contact Information
Investor Relations
ICR, Inc.
Telephone: (646) 200-8873
Email: envirotech@icrinc.com
Douglas M. Campoli
Telephone: (541) 968-3721
Email: douglas.c@evtvusa.com
SOURCE: Envirotech Vehicles, Inc.
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