WINNIPEG, MANITOBA, November 3, 2022 (GLOBE NEWSWIRE) — (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI” or the “Company”) is a leading independent bus and coach manufacturer and leader in electric mass mobility solutions, today a subsidiary of NFI, New Flyer of America Inc. (“New Flyer”) awarded a total of 38 major transit Selected as a partner of choice by the institution. .
New Flyer helped successfully apply for over $380 million in grants awarded to 38 public transit agencies in the United States and was the partner of record for two individual agency awards over $25 million each . This is an increase from her $40 million in Low-No grants awarded to her nine U.S. public transit agencies backed by her NFI subsidiary in 2021. New Flyer has been named as a partner, but new grants will not be added to her NFI’s backlog until contract documents are in place. Complete and receive a formal purchase order. New Flyer’s success with Low-No and Buses and Bus Facilities grants provides opportunities for future backlog expansion.
“NFI is proud that our subsidiary, Newflyer, has been chosen as the partner of choice for many public transit agencies looking to reduce their cities’ emissions through these FTA grant programs. ‘s success demonstrates NFI’s leadership in low-emission and zero-emission buses, including a wide range of battery and fuel cell appliances and infrastructure solutions that provide charging: $182 million in 2021 to 2022 The increase in these FTA subsidy programs to more than $1.6 billion in 2020 proves the strong tailwinds of public support that will inevitably transform America into an electric bus future. We look forward to continuing to lead. ZErevolution.
The grant will support the procurement of ZEB and associated charging infrastructure from New Flyer. In addition to these awards, for which New Flyer is the designated partner, approximately $800 million in Low-No and Buses and Bus Facilities awards to other U.S. public transit agencies that have not yet selected a specific provider. The prize has been awarded. We hope these awards will create future bidding opportunities for NFI’s business as unique programs are released by the agency.
Introduced in 2015 and first disbursed in 2016, the FTA Low-No Grant Program is a competitive application process to support the U.S. transition to low- and zero-emission public transportation. exists for The funds can be used to purchase or lease low-emission and zero-emission buses, including acquisition, construction, and leasing of the necessary charging infrastructure and equipment. The FTA is now awarding Low-No grants to U.S. public transit agencies to procure NewFlyer buses and charging infrastructure for the seventh consecutive year.
The Bus and Bus Facility Competitiveness Program provides federal resources to states and direct recipients to replace, rehabilitate, and purchase buses and related equipment and build bus-related facilities. This includes technological changes or innovations to modify low-emission or no-emission vehicles or facilities. Funding is provided through formula allocation and competitive grants. For more information on the 2022 FTA Grant Program, please visit https://www.transit.dot.gov/lowno.
NFI is a leader in zero-emission mobility, operating (or ordering) electric vehicles in more than 110 cities in six countries. NFI offers a wide range of zero-emission battery and fuel cell electric buses and coaches, whose vehicles have completed over 70 million EV service miles.
Today, NFI delivers scalable, clean and sustainable mobility solutions to support growing North American cities through a four-pillar approach that includes buses and coaches, technology, infrastructure and workforce development. . NFI 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 in late 2017, VIC has hosted more than 300 of his interactive events, and he has hosted 5,000 industry professionals for EV and infrastructure training.
Leveraging 450 years of combined experience, NFI leads the electrification of mass mobility around the world. NFI uses zero-emission buses and coaches, infrastructure, and technology to meet today’s cities’ demand for scalable smart mobility solutions. NFIs work together to make cities more livable through connected, clean and sustainable transportation.
With 7,500 team members in 9 countries, NFI is the world’s leading bus manufacturer with New Flyer branded mass mobility solutions.® (large route bus), MCI® (large buses), Alexander Dennis Limited (single and double decker buses), Plaxton (large buses), ARBOC® (low-floor cutaways and mid-sized buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, fuel cell), natural gas, electric hybrids and clean diesel. In total, NFI supports an installed base of over 105,000 buses and coaches worldwide. NFI’s common stock trades on the Toronto Stock Exchange (“TSX”) under the symbol NFI and its convertible debentures trade on the TSX under the symbol NFI.DB. News and information at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, www.nfi.parts, www.alexander-dennis.com, www.arbocsv.com and www.carfaircomposites.com Available. .
About New Flyer
New Flyer is a leader in heavy transit buses in North America and offers a cutting edge product line under Xcelsior.® Excelsior CHARGE® brand. We also offer infrastructure development with NFI Infrastructure Solutions™, a service dedicated to providing safe, sustainable and reliable charging and mobility solutions. New Flyer actively supports over 35,000 large transit buses (New Flyer, NABI, and Orion) currently in operation. Of these, 8,600 are powered by electric motors and battery propulsion, and 1,900 are zero-emission. For more information, please visit www.newflyer.com.
This press release contains certain forward-looking statements that reflect management’s expectations regarding future growth, performance, business prospects and sales opportunities for NFI and New Flyer. These forward-looking statements reflect management’s current expectations regarding future events, performance and opportunities, and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties and should not be construed as guarantees of future events, performance or results. Achieved. Actual results may vary in such forward-looking statements due to a variety of reasons, including market and general economic conditions, transportation economic conditions and availability of funds to purchase buses, parts or services. Forecasts may differ materially from management’s expectations. Production may be delayed or reduce production rates as a result of the pandemic or ongoing and future supply chain disruptions and shortages of parts and components, shipment and cargo delays, and labor supply disruptions. All or all grants awarded to transit agencies awarded grants under the Low-No Grant Program for the purchase of buses, products or services from NFI or New Flyer or other original equipment manufacturers; There is no guarantee that any part will be used to award a contract. Transit agencies are obligated to use any Low-No Grant funds awarded to purchase transit buses, products or services only or exclusively from New Flyer. I don’t owe you. Transportation fleet and infrastructure plans are subject to change and may require different technology than was originally included in the low grant proposal. Transit agencies seeking to use Low-No Grant and New Flyer may not agree to the terms and conditions of the purchase of buses and services. Transport Agencies may not exercise the option to purchase additional buses or services. Transit agencies generally have the ability to suspend or terminate contracts for convenience. Other risks and uncertainties are described in materials filed with Canadian securities regulators 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. .