XL Fleet Electrifying Apex Clean Energy Pickup Fleet
April 07 2021 - 7:00AM
Business Wire
Leading clean energy company is electrifying
its work truck fleet with XL Fleet plug-in hybrid and hybrid
systems on its F-Series pickup trucks
Apex fleet electrification investment will
support its commitment to reduce carbon emissions
Vehicles were acquired for Apex by XL Fleet’s
Fleet Management Company (FMC) partner Enterprise Fleet
Management
XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a
leader in fleet electrification solutions, and Apex Clean Energy
(“Apex”), a leading clean energy company that develops, constructs,
and operates utility-scale wind and solar power facilities
throughout North America, today announced that XL Fleet is
electrifying Apex’s vehicle fleet as part of a comprehensive effort
to reduce its carbon emissions.
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Apex’s first investment in vehicle electrification, the order
will provide 19 electrified Ford F-series pickup trucks, including
ten plug-in hybrid electric and nine hybrid electric systems for
pickups in its service fleet, for delivery in the second quarter of
2021. The strategic mix of hybrid and plug-in hybrid electric
vehicles being deployed aligns with Apex’s current sustainability
goals and operational requirements, while allowing it to consider
expanding its electrification investments as it replaces more
vehicles in the future.
XL Fleet’s electrification systems will enable Apex to equip its
project teams with a diverse array of cleaner, more fuel-efficient
vehicles as Apex installs renewable power generation equipment and
facilities throughout North America. Apex is planning to deploy the
plug-in hybrid vehicles to its operations employees, who will have
access to charging infrastructure being installed at operational
wind and solar facilities. The hybrid vehicles are expected to be
used by Apex’s on-site construction team, who currently do not have
regular access to charging infrastructure and will benefit from the
regenerative braking provided by the XL Fleet hybrid system. In the
past decade, Apex has commercialized $9 billion worth of wind and
solar projects representing nearly 7 GW of clean energy
opportunity.
“XL Fleet and Apex Clean Energy share a common goal of
delivering sustainable products and services designed to protect
our environment, and we are proud to become Apex’s electrified
vehicle partner as they look to take immediate and significant
steps toward reducing their carbon footprint,” said Brian Piern, VP
of Sales and Marketing at XL Fleet.
“As a mission-driven company with sustainability at the heart of
our work, Apex is driving the transition to a clean energy economy,
and XL Fleet is an ideal partner to help us extend this core value
to our transportation choices,” said Mark Goodwin, president and
CEO of Apex Clean Energy. “XL Fleet gives us the ability to begin
working toward our carbon reduction goals immediately by
electrifying our vehicle fleet with proven solutions that make
strong financial sense.”
This deployment of electrified pickups reflects XL Fleet’s broad
lineup of plug-in hybrid and hybrid solutions for some of the fleet
industry’s most popular light and medium duty work trucks, which
also includes the Company’s newest plug-in and hybrid offerings for
Chevrolet Silverado and GMC Sierra HD models.
The Ford F-series pickups being electrified for Apex were
acquired by XL Fleet’s Fleet Management Company (FMC) partner
Enterprise Fleet Management as part of this transaction. Enterprise
is a leading full-service provider of fleet management
capabilities, including vehicle acquisition, financing, maintenance
and more. Enterprise takes a sustainable approach to its business
practices and actively helps fleet customers manage their carbon
footprint.
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 150 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. XL
Fleet’s plug-in hybrid electric drive system was named one of TIME
magazine's best inventions of 2019. For additional information,
please visit www.xlfleet.com.
About Apex Clean Energy
Apex Clean Energy develops, constructs, and operates
utility-scale wind and solar power facilities across North America.
Our mission-driven team of more than 250 renewable energy experts
uses a data-focused approach and an unrivaled portfolio of projects
to create solutions for the world’s most innovative and
forward-thinking customers. For more information on how Apex is
leading the transition to a clean energy future, visit
apexcleanenergy.com or follow us on Facebook, Twitter, and
LinkedIn.
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
failure to realize the anticipated benefits from the business
combination; 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;
the effects of competition on the Company’s future business; the
availability of capital; and the other risks discussed under the
heading “Risk Factors” in our Annual Report on Form 10-K filed on
March 31, 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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version on businesswire.com: https://www.businesswire.com/news/home/20210407005381/en/
Media: PR@xlfleet.com
Investor: xlfleetIR@icrinc.com
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