California Energy Commission Approves New Flyer Zero-Emission Fuel Cell Demonstration Project
St. Cloud, Minnesota, USA August 13, 2015: (TSX: NFI) (TSX: NFI.DB.U) New Flyer of America Inc., a subsidiary of New Flyer Industries Inc. (New Flyer or the Company), the leading manufacturer of heavy-duty transit buses in the United States and Canada, announced that the California Energy Commission (CEC) approved a $2.1 million grant to conduct an advanced demonstration project involving a New Flyer Xcelsior® electric transit bus with a Hydrogenics CelerityPlus fuel cell. A notice of the proposed award was initially announced in April 2015.
The purpose of the CEC-approved Alternative and Renewable Fuel and Vehicle Technology Program (ARFVTP) is to encourage demonstration of advanced technologies and help develop commercial vehicles that reduce greenhouse gas emissions, displace petroleum fuel demand, stimulate economic development and enhance market acceptance that will lead to commercial production.
Similar to the commercially available zero-emission New Flyer Xcelsior battery-electric buses, the hydrogen fuel cell demonstration bus will use a Siemens ELFA® electric drive motor for propulsion. However, instead of storing electricity delivered from the power grid in battery packs on the bus, fuel cells use hydrogen gas and air to produce electricity directly on-board the bus. With water vapor as the only by-product and with no tail pipe emissions, a New Flyer Xcelsior fuel cell bus can reduce an estimated 115 metric tonnes of carbon dioxide per year.
With the fuel cell on board, the bus has the ability to yield operating ranges longer than pure battery-electric buses, plus hydrogen fuel tanks on the bus can be refilled in less time than recharging batteries from plug-in electric chargers.
New Flyer has over 40 years of extensive experience with electric vehicle technology, starting with electric trolleys. We designed the Xcelsior with public transit agencies in mind, using components and systems that are Buy America compliant and manufactured and supported by leading supply chain partners, said Chris Stoddart, Vice President of Engineering Services and Customer Services. Integrating advanced fuel cell technology from Hydrogenics is a natural extension of our zero-emission product evolution. We are very proud to be a selected as a partner with the California Energy Commission.
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 3,300 team members with manufacturing, fabrication, parts distribution and service centers in both Canada and the United States. Over 32,000 New Flyer and NABI heavy-duty transit buses are in operation today. Further information is available on New Flyers website at http://www.www.newflyer.com/content
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 prototype version of this type of battery-electric hydrogen fuel cell bus, there may be no sustained customer demand for this type of bus , the expected benefits for customers operating this type of bus may not be realized, 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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