(TSX: NFI, OTC: NFYEF) NFI Group Inc. (“NFI” or
the “Company”), a leading independent bus and coach manufacturer
and a leader in electric mass mobility solutions, today announced
that the Alameda Contra Costa Transit District (“AC Transit”) has
awarded NFI subsidiary New Flyer of America Inc. (“New Flyer”) an
order for 20 zero-emission, hydrogen fuel cell-electric 40-foot
Xcelsior CHARGE H2™ heavy-duty transit buses. The purchase was
made through California’s State Cooperative Procurement, which New
Flyer was selected for as a top-scoring approved supplier in 2019.
Supported by Federal Transit Administration
funds, the order follows AC Transit’s 2019 purchase of ten hydrogen
fuel cell-electric and five battery-electric buses from NFI, and
demonstrably advances AC Transit’s Clean Corridors Plan (a
commitment to operate a 25% zero-emission fleet by 2023) and
ultimately its implementation of the California Air Resources Board
(“CARB”) Innovative Clean Transit Regulation that requires all
California agencies to transition to zero-emission bus fleets by
2040.
Based in Oakland, AC Transit is one of the
largest bus-only systems in America, serving Alameda and Contra
Costa counties in the San Francisco Bay Area’s East Bay, delivering
over 52 million rides annually.
“Since 1980, NFI has delivered over 740 buses to
AC Transit, and we are pleased to continue expanding zero-emission
mobility in the greater San Francisco Bay Area through this
follow-on order,” said Paul Soubry, President and Chief Executive
Officer, NFI. “AC Transit is an innovative leader focused on
delivering the best in urban mobility for its riders, and we look
forward to supporting AC Transit on its continued journey to a
fully zero-emission fleet.”
“With more Xcelsior CHARGE H2 fuel cell buses in
its fleet, AC Transit can count on proven range performance,
cleaner transportation, reduced noise pollution, and elimination of
greenhouse gases – with buses that produce only clean water vapor
from the tailpipe,” said Chris Stoddart, President, New Flyer and
MCI.
NFI is a leader in zero-emission mobility, with
electric vehicles operating (or on order) in more than 80 cities in
four countries. NFI offers the widest range of zero-emission
battery and fuel cell electric buses and coaches, and the Company’s
vehicles have completed over 40 million EV service miles.
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 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 ten 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.
About New Flyer
New Flyer is North America's heavy-duty transit
bus leader and offers the most advanced product line under the
Xcelsior® and Xcelsior CHARGE™ brands. It also offers
infrastructure development through New Flyer Infrastructure
Solutions™, a service dedicated to providing safe, sustainable, and
reliable charging and mobility solutions. New Flyer actively
supports over 35,000 heavy-duty transit buses (New Flyer, NABI, and
Orion) currently in service, of which 8,600 are powered by electric
motors and battery propulsion and 1,900 are zero-emission. Further
information is available at www.newflyer.com.
Forward-Looking Statements
This press release may contain forward-looking
statements relating to expected future events and financial and
operating results of NFI Group that involve risks and
uncertainties. Although the forward-looking statements contained in
this press release are based upon what management believes to be
reasonable assumptions, investors cannot be assured that actual
results will be consistent with these forward-looking statements,
and the differences may be material. 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 customers to purchase buses and to
purchase parts or services, customers may not exercise options to
purchase additional buses, the ability of customers 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, the NFI Group 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
NorrisP: 320.406.3386Lindy_Norris@newflyer.com
For investor inquiries, please contact:Stephen
KingP: 204.224.6382Stephen.King@nfigroup.com
NFI (TSX:NFI)
Historical Stock Chart
From Mar 2024 to Apr 2024
NFI (TSX:NFI)
Historical Stock Chart
From Apr 2023 to Apr 2024