CORONA, CA / ACCESSWIRE / September 26, 2018 / ADOMANI, Inc. (NASDAQ: ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, announced today that the North Coast Unified Air Quality Management District (NCUAQMD) has received over 600 applications for replacement buses during 2018. Over one half of school buses for which districts applied were zero-emission all-electric school buses. Applications for zero-emission all-electric school buses received this year exceed the total applications from the previous year, which suggests greater interest in alternative-fueled and electric school buses throughout California’s school districts.
Through its Rural School Bus Pilot Project, the NCUAQMD has made available funds of $10 million for rural school districts in California to replace older, polluting school buses with more energy-efficient school buses that reduce toxic emissions. While priority goes to small, rural schools, this year the program received an influx of applicants from mid-sized to larger school districts seeking funding for electric school buses. “It is truly amazing to see the response the program generates for California school districts of all sizes that are seeking funding for electric school buses,” said John Roselli, VP of Sales and Marketing for ADOMANI. “Last year, the NCUAQMD awarded 19 grants for all-electric school buses out of 250 applications. This year, we anticipate similar numbers for awarded grants of all-electric school buses.”
Approved in 2016 by the California Air Resources Board (CARB), the Rural School Bus Pilot Program allocates $10 million annually to help rural and small school districts purchase newer alternative-fueled school buses that help reduce greenhouse gases. The funding program is designed to support smaller and rural school districts that lack the discretionary funding and/or access to the more substantial funding sources that are often available to larger, urban school districts.
About ADOMANI®
ADOMANI, Inc. is a provider of zero-emission electric and hybrid vehicles and replacement drivetrains that is focused on reducing the total cost of vehicle ownership. ADOMANI® helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance. ADOMANI® designs and causes to be designed advanced zero-emission electric and hybrid drivetrain systems for use in new school buses and medium to heavy-duty commercial fleet vehicles.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospectus or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by ADOMANI® with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “planned,” “expects,” “believes,” “strategy,” “opportunity,” “anticipates,” “outlook,” “designed,” and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, ADOMANI® undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
INVESTOR RELATIONS CONTACTS:
ADOMANI, Inc.
Kevin Kanning
V.P. of Investor Relations
(650) 533-7629
Kevin.k@ADOMANIelectric.com
Hayden IR
James Carbonara
Partner
(646) 755-7412
james@haydenir.com
ADOMANI, Inc.
Michael K. Menerey
Chief Financial Officer
(626) 483-3280
mike.m@ADOMANIelectric.com
SOURCE: ADOMANI, Inc.
ReleaseID: 512875
