(TSX: NFI, OTC: NFYEF, TSX: NFI.DB) 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 NFI subsidiary New Flyer of America Inc. (“New
Flyer”) has been named partner of choice by a total of 38 major
transit agencies across the United States for its successful
project awards from the Federal Transit Administration’s (“FTA”)
2022 Low or No Emission (“Low-No”) and Buses and Bus Facilities
Grant Programs.
New Flyer supported the successful applications
for over $380 million in grants awarded to 38 U.S. public transit
agencies and was the named partner for two individual agency awards
of over $25 million each. This was an increase from the $40 million
in Low-No grants awarded to nine U.S. public transit agencies that
NFI subsidiaries supported in 2021. While New Flyer has been named
as a partner, new awards will not be added to NFI’s backlog until
contract documentation is completed and a formal purchase order is
received. New Flyer’s success with Low-No and Buses and Bus
Facilities grants provide future backlog growth opportunities.
“NFI is proud that subsidiary New Flyer has been
selected as the partner of choice for numerous public transit
agencies as they look to reduce emissions in their cities through
these FTA grant programs” said Chris Stoddart, President, North
American Bus and Coach, NFI. “Our success demonstrates NFI’s
leadership in low- and zero-emission buses, including our wide
range of battery- and fuel cell-electric products and our
Infrastructure Solutions offering charging. The growth in these FTA
grant programs, from $182 million in 2021 to over $1.6 billion of
funding in 2022, is a testament to the strong tailwind of public
support that will inevitably transform America into an electric bus
future. NFI looks forward to continuing to lead the evolution to
zero-emission mobility— what we call the
ZEvolution.”
Grant funds support the procurement of ZEBs and
the associated charging infrastructure from New Flyer. In addition
to those awards where New Flyer is a named partner, almost $800
million of Low-No and Buses and Bus Facilities awards were made to
other U.S. public transit agencies that have not yet to select a
specific provider. The Company expects these awards to create
future bidding opportunities for NFI’s businesses as unique
programs are released by agencies.
Introduced in 2015, with the first disbursements
in 2016, the FTA Low-No Grant Program is a competitive application
process and exists to support the U.S. transition to low- and
zero-emission public transit fleets. Funding can be used to
purchase or lease low- and zero-emission buses, including
acquisition, construction, and leasing of the necessary charging
infrastructure and facilities. The FTA has now awarded U.S. public
transit agencies Low-No grants to procure New Flyer buses and
charging infrastructure for seven consecutive years.
The Buses and Bus Facilities Competitive Program
makes federal resources available to states and direct recipients
to replace, rehabilitate and purchase buses and related equipment
and to construct bus-related facilities, including technological
changes or innovations to modify low- or no-emission vehicles or
facilities. Funding is provided through formula allocations and
competitive grants. For more information on the FTA Grant
Programs for 2022, visit: https://www.transit.dot.gov/lowno
NFI is a leader in zero-emission mobility, with
electric vehicles operating (or on order) in more than 110 cities
in six countries. NFI offers the widest range of zero-emission
battery and fuel cell-electric buses and coaches, and its vehicles
have completed over 70 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. NFI
also operates the Vehicle Innovation Center (“VIC”), the
first and only innovation lab of its kind dedicated to advancing
bus and coach technology and providing workforce development. Since
opening in late 2017, the VIC has hosted over 300 interactive
events, welcoming 5,000 industry professionals for EV and
infrastructure training.
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 7,500 team members in nine 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’s common
shares trade on the Toronto Stock Exchange (“TSX”) under the symbol
NFI and its convertible unsecured debentures trade on the TSX under
the symbol NFI.DB. News and information is available at
www.nfigroup.com, www.newflyer.com, www.mcicoach.com,
www.nfi.parts, www.alexander-dennis.com, www.arbocsv.com, and
www.carfaircomposites.com.
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 NFI 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 contains certain
forward-looking statements which reflect the expectations of
management regarding NFI’s and New Flyer’s future growth,
performance, business prospects and sales opportunities. These
forward-looking statements reflect management’s current
expectations regarding future events, operating performance and
opportunities and speak only as of the date of this press release.
Forward-looking statements involve significant risks and
uncertainties, should not be read as guarantees of future events,
performance or results, and will not necessarily be accurate
indications of whether or not or the times at or by which such
events, performance or results will be achieved. 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 transit agencies to purchase buses,
parts or services; production may be delayed or production rates
may be decreased as a result of the pandemic or ongoing and future
supply chain disruptions and shortages of parts and components,
shipping and freight delays, and disruption to labor supply; there
is no guarantee that transit agencies awarded grants under the
Low-No Grant Program will award contracts or draw upon all or any
of the grant funds awarded to purchase buses, products or services
from NFI or New Flyer or from any other original equipment
manufacturer; transit agencies are not obligated to use the Low-No
Grant funds awarded to only purchase transit buses, products or
services or to purchase transit buses, products or services
exclusively from New Flyer; the fleet and infrastructure plans of
transit agencies may change or require different technologies than
those that were originally included in the Low-No Grant proposal;
the transit agency desiring to utilize a Low-No Grant and New Flyer
may be unable to agree on contractual terms for the purchase of
buses and/or services; transit agencies may not exercise options to
purchase additional buses or services; transit agencies typically
have the ability 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, NFI 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:Melanie
McCreathP: 204.224.6496Melanie.McCreath@nfigroup.com
For inquiries, please contact:Stephen KingP:
204.224.6382Stephen.King@nfigroup.com
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