ST. CLOUD, Min., Sept. 17, 2021 (GLOBE NEWSWIRE) -- (TSX: NFI) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced that the Central Ohio Transit Authority (“COTA”) has exercised options for 18 Xcelsior® compressed natural gas (“CNG”) forty-foot, heavy-duty transit buses, converted from NFI subsidiary New Flyer of America Inc.’s (“New Flyer”) backlog. The award follows COTA’s second option conversion of 28 CNG buses, delivered earlier this year.
The options were exercised from a five-year contract originally announced in 2018 for 154 Xcelsior CNG forty-foot transit buses. Both purchases were supported by Federal Transit Administration funds as part of COTA's 2013 commitment to convert its entire fleet to natural gas within 12 years.
COTA provides public transit in the greater Columbus and central Ohio region, and prior to the COVID-19 pandemic, delivered more than 19 million passenger trips a year. COTA has been named Outstanding Midsize Public Transit Organization twice by the American Public Transportation Association, receiving the international recognition in 2018 and 2020.
“NFI continues to lead the evolution to low- and zero-emission buses by providing the industry’s broadest range of propulsion options to suit individual customer needs and unique operating environments,” said Paul Soubry, President and Chief Executive Officer, NFI. “We are proud to be awarded COTA’s follow on requirement for state-of-the-art transit buses, in support of its environmentally responsible vision for transit.”
NFI has been a CNG leader for more than 25 years, offering unmatched expertise in designing and deploying low-emission transit buses. Xcelsior CNG buses emit 90% less nitrogen oxide than diesel engines, resulting in cleaner, more breathable air. For more information, visit newflyer.com/xcelsior-cng.
“With over 155 buses delivered to COTA since 2001, New Flyer continues to provide safe and sustainable transportation to the greater Columbus region,” said Chris Stoddart, President, North American Bus and Coach. “Today, there are over 13,000 New Flyer CNG buses on the road in North America, proving the safe, scalable, and efficient performance of these low-emission buses. With CNG technology onboard, they emit virtually no visible particulate matter from the tailpipe – delivering immediate emission reduction and moving toward cleaner air for all.”
Today, NFI supports growing North American cities with scalable, clean, and sustainable mobility solutions through a four-pillar approach that includes buses and coaches, technology, infrastructure, and workforce development. NFI also operates the Vehicle Innovation Center (“VIC”), the first and only innovation lab of its kind dedicated to advancing bus and coach technology and providing workforce development. Since opening late 2017, the VIC has hosted over 300 interactive events, welcoming 4,000 industry professionals for EV and infrastructure training.
About NFI
Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today’s urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation.
With 8,000 team members in nine countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motor coaches), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 105,000 buses and coaches around the world. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, www.arbocsv.com, www.alexander-dennis.com, and www.nfi.parts.
About New Flyer
New Flyer is North America’s heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior® and Xcelsior CHARGE® brands. It also offers infrastructure development through New Flyer Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion and 1,900 are zero-emission. Further information is available at www.newflyer.com.
Forward-Looking Statement
This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI Group 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 and economic conditions of and funding availability for customers to purchase buses and to purchase parts or services, customers may not exercise options to purchase additional buses, the ability of customers to suspend or terminate contracts for convenience 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 NFI Group 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.
For media inquiries, please contact:
Lindy Norris
P: 320.406.3386
Lindy_Norris@newflyer.com
For investor inquiries, please contact:
Stephen King
P: 204.224.6382
Stephen.King@nfigroup.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7fb3af93-3e24-4d14-b1c1-9949a7a695e9
