Market Herald logo

Subscribe

Be the first with the news that moves the market
  • GreenPower Motor Company (TSXV:GPV) has announced that its EV Star bus has completed the Federal Transit Authority’s (FTA) Altoona testing
  • The EV Star is one of several electric powered buses manufactured by the company
  • The FTA’s rigorous Altoona testing is considered the gold standard for reliability in transit vehicles
  • Seating up to 19 passengers, the EV Star is a zero-emission bus with a range of up to 150 miles
  • Shares in GreenPower are currently up 3.08 per cent to C$0.34, with a market cap of C$28.82 million

The US Federal Transit Authority (FTA) has completed testing of GreenPower Motor Company’s (TSXV:GPV) EV Star bus.

The Altoona test, which is funded by the FTA, is considered the gold standard in transit vehicle reliability.

Based in Pennsylvania, the Altoona testing centre focuses on maintainability, safety, performance, structural integrity, energy economy, noise and emissions of various bus models.

Completion of the testing, and subsequent certification, is required in order for vehicles to be made available for purchase with federal funds.

This means that transit properties across the US will have access to subsidised purchases of the EV Star should it be certified.

Ryne Shetterley, Vice President of Sales and Marketing at GreenPower, is optimistic about the outcome.

“Upon successful Altoona certification we believe the EV Star will be viewed as a leading solution for transit properties who are looking to reduce emissions and lower operational costs,” he said.

“The FTA’s 2020 grant programs provide over [C$10.66 billion] of funding, a significant portion of which is available to fund bus purchases, and when paired with Buy America Compliance the FTA will fund 80 per cent of the cost of a new vehicle.”

The 25-foot zero-emission bus can carry up to 19 passengers, with a range of 150 miles.

With significant versatility, the vehicle can be used for micro-transit services, paratransit, vanpool, shuttle, school, employee transportation, tourist operations or cargo transport.

“We are working towards achieving Buy America compliance and Altoona certification for the EV Star in order to dramatically expand our access to transit authorities across the United States,” concluded Mr. Shetterley.

GreenPower Motor Company is currently waiting for the final report and certification from Altoona.

Shares in the company are currently up 3.08 per cent to C$0.34, with a market cap of C$28.82 million at 2:19pm EST.

More From The Market Herald

" Vicinity Motor (TSXV:VMC) partners with Proterra

Vicinity Motor (VMC) has partnered with Proterra to power its electric transit buses and work trucks.

" Titanium Transportation Group (TSXV:TTR) acquires Brantford-based carrier

Titanium Transportation (TTR) has acquired Bert and Son’s Cartage Limited.

" dnata uses Descartes Systems (TSX:DSG) tracking solution

dnata is using Descartes (DSG) CORE BLE™ real-time tracking solution to cargo handling at airports.

" NFI Group (TSX:NFI) closes over-allotment option on previous bought-deal offering

NFI Group (NFI) has issued an additional C$38,000,000 of convertible unsecured debentures.