New Flyer Expands Proven Zero-Emission Product Line to Include a Sixty-Foot Battery-Electric/Fuel Cell Xcelsior® Bus
Winnipeg, Manitoba, Canada – October 13, 2014: (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.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.
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.
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