New Flyer Announces The Debut of the First Hydrogen Fuel Cell 60-Foot Bus in North America
Winnipeg, Canada – APRIL 18th, 2016 (TSX: NFI) (TSX: NFI.DB.U) New Flyer Industries Canada ULC, a subsidiary of New Flyer Industries Inc. (“New Flyer” or the “Company”), the leading manufacturer of heavy-duty transit buses and motor coaches in the United States and Canada, conducted the inaugural road demonstration of the Xcelsior® XHE60 heavy-duty articulated fuel cell transit bus. Representatives from two major transit Authorities – Alameda County Transit (AC Transit) of California, and Metro Transit of Minneapolis, Minnesota, participated in the vehicle’s debut and demonstration.
Based on its Buy America compliant and proven Xcelsior® X60 heavy-duty transit bus platform, New Flyer partnered with Ballard Power Systems Inc. and Siemens to develop the propulsion system. The bus will be operated in revenue service by AC Transit for 22 months following the completion of the Federal Transit Administration (“FTA”) mandated comprehensive evaluation program at the Altoona test facility located at Penn State in Pennsylvania. Following which New Flyer plans to offer these green fuel cell-electric and all-electric versions of the 60 foot buses to customers throughout the United States and Canada.
The propulsion system includes a combination of batteries, a fuel cell, and hydrogen storage that allows the fuel cell to operate at a relative steady-state, while the batteries capture both braking energy and provide power for bus acceleration. Ballard Power Systems is supplying its nextgeneration fuel cell power plant that is smaller, lighter and less expensive than existing models. The bus is targeted to have a range greater than 250 miles without refueling or recharging.
New Flyer is the sub-recipient of an FTA Grant administered by CALSTART, a non-profit organization that is focuses on clean air technology commercialization with business, fleets, and government. The FTA’s National Fuel Cell Bus Program is a cooperative initiative between government and industry to advance the commercialization of fuel cell technology in U.S. transit buses. The goals of the program include facilitating the development of commercially viable fuel ww.www.newflyer.com cell bus technologies, improving transit bus efficiency and reducing petroleum consumption, and reducing transit bus emissions.
“The New Flyer XHE60 fuel cell bus is truly a first of its kind in the zero-emissions class of vehicles”, noted Paul Smith, Executive Vice President of Sales and Marketing. “With potential loading of over 120 passengers, this zero emissions 60-foot articulated fuel cell bus offers tremendous greenhouse gas (GHG) and emissions reductions, with the operational capabilities of no other transit vehicle in the world. We are proud of what our engineers and partner suppliers have accomplished, and thank the FTA for their active sponsorship of this next generation program”.
About The Company
The Company employs approximately 5,000 team members and is the largest transit bus, motor coach manufacturer and parts distributor in North America. With fabrication, manufacturing, distribution and service centers in Canada and the United States.
Through its Canadian and U.S. subsidiaries, New Flyer Industries Canada ULC and New Flyer of America Inc., the Company is North America’s heavy-duty transit bus leader and offers the broadest transit bus product line (Xcelsior® and MiDi® models), incorporating the broadest range of drive systems available, including: clean diesel, natural gas, diesel-electric hybrid, electric-trolley and now battery-electric. New Flyer actively supports over 42,000 heavy-duty transit buses (New Flyer, NABI and Orion) currently in service.
Through its Canadian and U.S. subsidiaries, Motor Coach Industries Limited and Motor Coach Industries, Inc., the Company is North America’s leader in motor coaches, offering the MCI J4500,which is the industry’s best-selling intercity coach for 11 consecutive years, and the MCI D-Series, the industry`s best-selling coach line in North American motor coach history. MCI is also the exclusive distributor of Setra S417 and S407 in the United States and Canada. MCI actively supports over 28,000 motor coaches currently in service and offers 24-hour roadside assistance 365 days a year.
The Company also operates North America’s most sophisticated aftermarket parts organization providing support for all types of transit buses and motor coaches. All buses and coaches are supported by an industry-leading comprehensive warranty, service and support network.
Further information is available on the Company’s websites at www.www.newflyer.com and www.mcicoach.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 ww.www.newflyer.com 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 sixty-foot hydrogen fuel cell bus, there may be no sustained customer demand for this type of propulsion system in a sixty-foot 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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