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

GreenPower Motor Company Inc. (NASDAQ: GP) announced that it has accelerated production of its all-electric school bus lineup, supported by a new financing facility of up to $18 million. The facility, deployable in tranches of up to $2 million, is intended to optimize the Company’s cash conversion cycle and help convert more than $50 million in contracted school bus orders.

Key Takeaways

• Financing will support conversion of over $50 million in contracted orders for the Nano BEAST and BEAST electric school buses.

• More than 130 chassis have already been pre-built to reduce lead times and accelerate revenue recognition.

• Early production positions the Company for improved gross margins and a clearer path to positive operating cash flow.

• GreenPower remains the only fully electric OEM manufacturing both a Class 4 Type A and Class 8 Type D school bus.

GreenPower said the new facility is designed to align capital deployment with production timing as the Company scales output of its all-electric school bus models. Ahead of finalizing the financing, the Company produced over 100 Nano BEAST cab chassis and 30 BEAST chassis, significantly shortening the time needed to convert its record backlog into deliveries.

“We are entering a period of meaningful operational leverage,” said Fraser Atkinson, CEO of GreenPower. He added that the financing and early production work create a clear path toward accelerated revenue recognition, margin expansion, and ultimately improved operating cash flow.

GreenPower’s vertically integrated platform—which includes both its Class 4 Type A Nano BEAST and Class 8 Type D BEAST school buses—positions the Company to benefit from the growing shift toward zero-emission student transportation. Federal and state incentives continue to support adoption of all-electric fleets as school districts transition away from diesel-powered vehicles.