XL Fleet Awarded Pilot Project With Department of Defense to Prototype Fuel-Saving Technology for Tactical Vehicles
November 23 2021 - 7:30AM
Business Wire
Department of Defense pilot program is part of
a future contract opportunity to leverage the hybrid conversion
technology for tens of thousands of vehicles in a variety of U.S.
military applications
XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a
leader in vehicle electrification solutions for commercial and
municipal fleets, today announced it was awarded a contract by the
Defense Innovation Unit (DIU) and The U.S. Army’s Project Manager
Transportation Systems (PM TS) to prototype a fuel-saving
technology for military vehicles. After earning the opportunity
through a highly competitive bidding process, XL Fleet is one of
two companies awarded a contract to develop a pilot technology
project over the course of the next year. This technology has the
potential to be applied to tens of thousands of existing vehicles
across a wide range of military applications. The pilot program
began on October 1, 2021, and will run for 13 months.
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As part of a DoD pilot program, XL Fleet
is developing a retrofit idle reduction technology for use in the
Family of Medium Tactical Vehicles (FMTV). (Photo: U.S. Army
Program Executive Office Combat Support & Combat Service
Support)
The Department of Defense (DoD) announced the pilot program
contract award on November 22, 2021, accessible here:
https://www.diu.mil/latest/department-of-defense-to-prototype-commercial-hybrid-conversion-kits-for.
XL Fleet’s contract is a part of the DoD’s ongoing efforts to
address some of the key fuel-saving efforts for its fleet of more
than a quarter million military tactical vehicles. As these
vehicles spend more than half of their operational time idling,
they currently require significant amounts of fuel to run onboard
electric power systems and to maintain cabin climate control. This
reduces vehicles’ range, creates significant costs, and drastically
increases thermal and acoustic signatures of the vehicles, putting
them at greater risk of detection in the field. Additionally, by
enhancing fuel efficiency and limiting the amount of fuel consumed
by its vehicles, the U.S. military can significantly reduce the
logistical and transportation requirements of its fuel supply chain
– a key source of logistical complexity and safety risk to
personnel.
As part of the DoD pilot program, XL Fleet is currently
developing a retrofit idle reduction technology for use in the
Family of Medium Tactical Vehicles (FMTV), the U.S. Army's standard
two-and-a-half to 10-ton trucks. The hybrid conversion kits would
be delivered to the DoD for installation by Soldiers on vehicles in
the military fleet. The Program Executive Office for Combat Support
& Combat Service Support (PEO CS&CSS), which includes PM
TS, has expressed that this program may be a step toward further
hybridization and electrification efforts, as the U.S. military
moves toward sustainable energy solutions to extend the operational
range of its tactical vehicle fleet, among other benefits.
“We are honored by the opportunity to compete for this highly
selective U.S. Government contract to develop fuel-saving solutions
for a wide range of applications for tactical military vehicles,”
said Tod Hynes, Founder and President of XL Fleet. “XL Fleet’s
proven technology, flexible platform and deep experience in
applying sustainable technologies to fleet vehicles make us an
ideal fit for the U.S. military’s specialized needs for this
project. We can help extend the operational range of their tactical
vehicles, while supporting our troops’ safety and providing
significant fuel and operating cost savings and reducing greenhouse
gas emissions.”
About XL Fleet Corp.
XL Fleet is a leading provider of vehicle electrification
solutions for commercial and municipal fleets in North America,
with more than 170 million miles driven by customers such as The
Coca-Cola Company, Verizon, Yale University and the City of Boston.
XL Fleet’s hybrid and plug-in hybrid electric drive systems can
increase fuel economy up to 25-50 percent and reduce carbon dioxide
emissions up to 20-33 percent, decreasing operating costs and
meeting sustainability goals while enhancing fleet operations. For
additional information, please visit www.xlfleet.com.
U.S. Department of Defense Disclaimer
This is an effort sponsored by the U.S. Government under Other
Transaction number HQ0845-21-9-0033 between XL Fleet and the
Government. The U.S. Government is authorized to reproduce and
distribute reprints for Governmental purposes notwithstanding any
copyright notation thereon. The views and conclusions contained
herein are those of the authors and should not be interpreted as
necessarily representing the official policies or endorsements,
either expressed or implied, of the U.S. Government.
Forward Looking Statements
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the federal
securities laws. Forward-looking statements generally are
accompanied by words such as “believe,” “may,” “will,” “estimate,”
“continue,” “anticipate,” “intend,” “expect,” “should,” “would,”
“plan,” “predict,” “potential,” “seem,” “seek,” “future,”
“outlook,” and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of management and are not predictions of actual performance.
Forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements, including but not limited to;
the effects of pending and future legislation; the highly
competitive nature of the Company’s business and the commercial
vehicle electrification market; litigation, complaints, product
liability claims and/or adverse publicity; cost increases or
shortages in the components or chassis necessary to support the
Company’s products and services; the introduction of new
technologies; the impact of the COVID-19 pandemic on the Company’s
business, results of operations, financial condition, regulatory
compliance and customer experience; the potential loss of certain
significant customers; privacy and data protection laws, privacy or
data breaches, or the loss of data; general economic, financial,
legal, political and business conditions and changes in domestic
and foreign markets; the inability to convert its sales opportunity
pipeline into binding orders; risks related to the rollout of the
Company’s business and the timing of expected business milestones,
including the ongoing global microchip shortage and limited
availability of chassis from vehicle OEMs and our reliance on our
suppliers; the effects of competition on the Company’s future
business; the availability of capital; changes in the preliminary
financial results for the quarter ended September 30, 2021 upon
completion of the Company’s financial closing procedures or upon
review and completion of procedures by the Company’s independent
registered public accounting firm, and the other risks discussed
under the heading “Risk Factors” in the Company’s Annual Report on
Form 10-K filed on March 31, 2021, as amended and supplemented by
the 10-K/A filed May 17, 2021, and other documents that the Company
files with the SEC in the future. If any of these risks materialize
or our assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking
statements. These forward-looking statements speak only as of the
date hereof and the Company specifically disclaims any obligation
to update these forward-looking statements.
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XL Fleet Media Contact: PR@xlfleet.com
XL Fleet Investor Contact: xlfleetIR@icrinc.com
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