ADOMANI’s Backlog Grows to $6.4M, a 76% Increase from its Backlog at September 30, 2018
CORONA, CA / ACCESSWIRE / October 18, 2018 / ADOMANI, Inc. (NASDAQ: ADOM),
a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, announced today a 76% increase in its September 30, 2018 backlog of $3.6 million to $6.4 million. The increase is a result of recent purchase orders from Blue Bird Corporation for additional zero-emission drivetrain systems and spare parts for Blue Bird’s all-electric Vision Type C and All American RE Type D school buses. ADOMANI® and Blue Bird and its dealerships across the United States have partnered in more than 50 Ride-and-Drive events showcasing the all-electric zero-emission school buses to school districts, community leaders and government officials. ADOMANI® currently expects to deliver approximately $3.6 million, or 57%, of its current backlog in 2018, and anticipates that it will deliver the balance by the end of the first quarter of 2019.
“We’re seeing upticks in orders for zero-emission all-electric drivetrain systems that we believe are a result of the sales and operations teams’ focused efforts to educate school districts and the community about the benefits of these buses for children and the environment,” said Jim Reynolds, President and CEO of ADOMANI®. Reynolds continued, “Despite the competition, school districts recognize Blue Bird as a leader in alternative-fueled school buses, as well as their quality, vast North American service network and innovation, having pioneered the first zero-emission all-electric school bus in 1994.”
Other factors that ADOMANI® believes are fueling the surge in orders for zero-emission all-electric school buses are the various grants and the Volkswagen Mitigation Trust funds available for zero-emission electric school buses in California, New York and several other states. As an example, California and New York school districts are eligible for funding of up to $220,000 or more for the purchase of all-electric school buses. Additional grants and funding opportunities for all-electric school buses in California include the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Program (HVIP), Rural School Bus Pilot Project through the North Coast Unified Air Quality Management District, California Energy Commission School Bus Replacement Program, AB 617 Community Air Protection Program, Carl Moyer Memorial Air Quality Standards Attainment Program, and the Diesel Emission Reduction Act (DERA).
“With the available funding, we are anticipating that more school districts will participate in the zero-emission all-electric school bus revolution,” said John Roselli, VP of Sales and Marketing for ADOMANI®. “Several school districts have also expressed interest in our zero-emission all-electric Class 4 delivery trucks and vans, which we anticipate may also become eligible for HVIP funding in California.”
Blue Bird delivered its first zero-emission all-electric school buses “Powered by ADOMANI®” to school districts in September 2018, with more deliveries scheduled in the fourth quarter of 2018 in California.
ADOMANI, Inc. is a provider of zero-emission electric and hybrid drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANI® is also a provider of new zero-emission electric and hybrid vehicles focused on reducing the total cost of vehicle ownership and 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. For more information, visit www.ADOMANIelectric.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospects 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 ADOMANI’s reports filed 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.
For more information regarding this release, contact Investor Relations