GreenPower Accelerates Production of All-Electric School Buses; Secures Financing Facility of Up to $18 Million to Convert Record Backlog

Core Insights - GreenPower Motor Company is accelerating production of its all-electric school bus lineup, supported by a financing facility of up to $18 million, which will be deployed in tranches of up to $2 million [1][3] - The company has over $50 million in contracted orders for its Nano BEAST and BEAST school buses, allowing for efficient conversion of backlog into deliveries [3][6] - GreenPower is the only fully electric OEM manufacturing both Class 4 Type A and Class 8 Type D school buses, positioning itself to capture market share as the school transportation sector transitions to zero-emission fleets [3] Financing and Production - The financing facility is designed to optimize cash conversion cycles, enabling the company to align capital deployment with production timing as it scales output [1][6] - More than 130 chassis have already been produced, which positions GreenPower for improved gross margins and a pathway to positive operating cash flow [6] Market Position and Strategy - The company employs a vertically integrated, purpose-built platform strategy, integrating global suppliers for key components to meet various operator specifications [4] - Federal and state incentives are expected to support the transition to zero-emission fleets, benefiting GreenPower's market position [3]