WINNIPEG, Oct. 13, 2014 /CNW/ - (TSX: NFI) (TSX: NFI.DB.U)
New Flyer Industries Inc. ("New Flyer" or the "Company"), the
leading manufacturer of heavy-duty transit buses in the United States and Canada, announced today that it is developing
the first ever North American designed and built zero-emission
60-foot battery-electric/fuel cell bus.
This propulsion system is being integrated into New Flyer's Buy
America compliant and proven Xcelsior® X60 heavy-duty
transit bus platform that includes a combination of batteries, a
fuel cell, and hydrogen storage. The electric drive bus will
allow the fuel cell to operate at a relative steady-state, while
the batteries will be able to both capture breaking energy and
provide power for acceleration.
New Flyer has partnered with Ballard Power Systems Inc., and
Siemens on a bus that will be operated by Connecticut Transit
(CTTransit) for 22 months of in-revenue-service operations. Ballard
will supply a next-generation fuel cell power plant that is
smaller, lighter and lower in cost than existing models. A
key step in the commercialization will be to complete a full
Altoona durability and performance test as part of the US Federal
Transit Administration (FTA) Bus Testing Program. Upon the success
of this program, New Flyer will offer this vehicle to customers
throughout the United States and
Canada.
CALSTART, a member-supported organization of more than 140
firms, fleets and agencies worldwide dedicated to supporting a
growing high-tech clean transportation industry, is administering
the project for the FTA.
"This project is part of our technology roadmap and represents
another important step for New Flyer in pursuit of durable,
reliable and affordable zero-emission public transportation," said
Paul Soubry, President and Chief
Executive Officer of New Flyer. "Over the next decade, we
expect to see a continued transition from conventional propulsion
towards zero-emission technologies in the heavy-duty transit market
and this builds on our natural evolution from: diesel, to hybrid,
to natural gas, to electric – all based on the same proven Xcelsior
bus platform."
This announcement follows New Flyer`s recent addition of a
zero-emission battery-electric propulsion system to its
commercially available lineup of Xcelsior transit bus models
unveiled at the American Public Transit Association Expo tradeshow
in Houston, Texas.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses
in the United States and
Canada. The Company is the industry technology leader and
offers the broadest product line of transit buses including drive
systems powered by: clean diesel, natural gas, diesel-electric
hybrid, electric trolley and now, battery-electric. All buses
are supported by an industry-leading comprehensive warranty and
support program, and service network. New Flyer also operates
the industry's most sophisticated aftermarket parts organization,
sourcing parts from hundreds of different suppliers and providing
support for all types of transit buses.
The New Flyer group of companies employ over 3,000 team members
with manufacturing, fabrication, parts distribution and service
centers in both Canada and
the United States. Over
32,000 New Flyer and NABI buses are in operation today.
Further information is available on New Flyer's web site at
www.newflyer.com.
The common shares and convertible unsecured subordinated
debentures of the Company are traded on the Toronto Stock Exchange
under the symbols NFI and NFI.DB.U, respectively.
Forward-Looking Statements
This press release may contain forward-looking statements relating
to expected future events and financial and operating results of
the Company 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, there is not yet a production version of the
fuel cell/battery-electric bus and the prototype must be tested,
marketed and sold to customers, there may be no demand for a fuel
cell/battery-electric bus from customers, the economic conditions
of and funding availability for customers to purchase buses and to
purchase parts or services 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 Company 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.
SOURCE New Flyer Industries Inc.