GreenPower Motor Company Inc (TSX:GPV.V) – State of Washington DES Update – Aug 27 ’15

VANCOUVER, BC–(Marketwired – August 27, 2015) – GreenPower Motor Company Inc. (TSX VENTURE: GPV)  (OTCQB: GPVRF) (“GreenPower” or the “Company”), announces that it has been awarded six categories under the statewide Master Contract # 09214 for heavy duty mass transit vehicles by the State of Washington Department of Enterprise Services (“DES”), which includes 32 categories for Diesel, Clean diesel, CNG, LNG, Hybrid, Electric, Electric Plug-In, Electric En-Route for Low Floor and High Floor buses.

The original solicitation for Bid 09214 states: it is estimated that purchases over the one-year initial term of the contract will approximate $60 million. It is projected that this will consist of 100 heavy-duty buses in various configurations. Over the term of the contract it is estimated that the contract could reach up to 800 buses at approximately $480 million dollars. The State does not guarantee any minimum purchase. Estimated quantities are informational and not to be construed as a warranty of accuracy of historical or anticipated volumes or a guarantee to purchase any amount.

GreenPower was awarded the following six categories:

Heavy Duty Bus – Plug-In Electric
30 Footer
35 Footer
40 Footer
45 Footer
60 Footer

Heavy Duty Coach – High Floor Electric
45 Footer

GreenPower is the only manufacturer that was awarded all five categories under the Heavy Duty Bus – Plug-In Electric. Specifically, GreenPower is the only manufacturer that was awarded the 45 Footer Plug-in electric category and, other than the 40 Footer plug in electric category where two other manufactures were awarded, there was only one other manufacturer awarded along with GreenPower in the remaining categories. The Plug-in electric categories apply to transit buses that are zero emission, route autonomous and are long range in terms of a single charge.

The Master Contract Usage Agreement is a one-time agreement allowing qualifying organizations to use Washington State master contracts. It’s also available to Oregon Coop members. The term of the master contract is to July 24, 2020, and the full details of the award are available on the DES website.

“This award is a validation of our suite of products and the market’s demand for all electric buses which have the range to cover an agency’s requirements on a single charge,” said CEO Phillip Oldridge. “We look forward to working with the many transit agencies in Washington and elsewhere who are embracing the benefits associated with deploying electric powered transit buses.”

About GreenPower Motor Company Inc.

GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets. GreenPower offers a range (30 to 60 feet) of electric powered transit buses deploying electric drive and battery technologies with a lightweight chassis and low floor body. GreenPower’s bus is based on a flexible clean sheet design and utilizes a custom battery management system and a proprietary Flex Power system for the drive motors. GreenPower integrates global suppliers for key components such as Siemens for the two drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements.

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Forward-Looking Statements

This document may contain forward-looking statements relating to GreenPower’s operations or to the environment in which it operates, which are based on GreenPower’s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower’s control. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release. © 2015 GreenPower Motor Company Inc. All rights reserved.

For further information contact:
Fraser Atkinson
(604) 220-8048

Marketwired (Canada)

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