NFI subsidiary Alexander Dennis announces contract with Reading Buses for 53 buses, including next generation Enviro400EV electric vehicles

LARBERT, United Kingdom, June 11, 2024 (GLOBE NEWSWIRE) — (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI or the Company), a leading independent manufacturer of buses and coaches and a leader in electric mass mobility solutions, its subsidiary Alexander Dennis Limited (Alexander Dennis) today announced that it has confirmed new orders for 24 zero-emission vehicles and 29 low-emission buses for English bus operator Reading Buses.

The 24 next-generation Alexander Dennis Enviro400EV double-decker buses will be the operator’s first batch of electric buses. They are the result of a successful bid with Reading Borough Council for funding for the second round of the UK Government’s Zero Emission Regional Bus Zones (ZEBRA 2) scheme.

Equipped with the robust variant of the Voith Electric Drive System (VEDS) and using high-performance batteries storing up to 472 kWh of energy, the Alexander Dennis Enviro400EV generates value through efficiency, longevity and flexibility. It is currently the most energy efficient double-decker electric vehicle tested to Zemo Partnership standards as part of the UK Bus Cycle and offers a market-leading guaranteed energy output of 1.6 GWh over eight years.

The new buses will eliminate local exhaust emissions from Reading Buses’ busy routes 17 and 21 when the zero-emission vehicles enter service in 2025. They will easily be able to run for a full day on these services, with charging taking place at Reading. Bus depot, which will be upgraded with 13 fast chargers that can each charge two vehicles at once.

Reading Buses CEO Robert Williams said: “We have undertaken extensive testing on demonstrators from a number of suppliers. The two main things were the customer experience and the experience of our drivers, before considering the technical side of things. Of all the demonstrators, the new Alexander Dennis Enviro400EV has the best configuration for customers on board, and drivers who have tested it have been very impressed.

The new zero-emission buses will redeploy Route 17’s current fleet of Enviro400CBG biogas buses on other routes to replace some of the company’s older diesel buses.

Reading Buses is investing further in 29 new low-emission Alexander Dennis buses. This will include 21 new Enviro400 double-decker buses for long-distance routes, which will follow 19 identical Alexander Dennis buses that the company has introduced over the past 18 months. The other eight buses will be single-decker Enviro200s which will completely renew the local Newbury & District fleet. All are expected to be delivered later this year and will use the manufacturer’s SmartPack efficiency technology to reduce tailpipe and carbon emissions.

Mark Taylor, regional sales director for Alexander Dennis, said: “We are delighted to welcome Reading Buses as one of the first customers for our next generation electric buses. Our next generation Enviro400EV will give Reading buses a head start on zero emissions technology, its class-leading fuel efficiency and guaranteed energy throughput ensuring these clean buses will cost less to operate and keep running for longer.

“We are also excited to continue our partnership with other low-emission buses, building on similar investments in recent years and demonstrating our unrivaled ability to offer comprehensive solutions for all fleet needs.”

NFI is a leader in zero-emission mobility, with electric vehicles in service (or on order) in more than 150 cities in six countries. NFI offers the broadest range of zero-emission battery and fuel cell electric buses and coaches, and its vehicles have logged more than 110 million miles of EV service.

High resolution images can be downloaded from the Alexander Dennis website at alexander-dennis.com/media/news.

About NFI

Drawing on 450 years of combined experience, NFI is at the forefront of the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure and technologies, NFI meets current urban demands for scalable intelligent mobility solutions. Together, NFI makes cities more livable through connected, clean and sustainable transportation.

With more than 8,750 team members across ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the New Flyer brands.^® (heavy urban buses), MCI^® (coaches), Alexander Dennis Limited (single and double decker buses), Plaxton (coaches), ARBOC^® (low-floor truncated buses and medium buses) and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (cart, battery and fuel cell), natural gas, electric hybrid and clean diesel. In total, NFI supports its installed base of more than 100,000 buses and coaches worldwide. NFI’s common shares trade on the Toronto Stock Exchange (“TSX”) under the symbol NFI and its unsecured convertible debentures trade on the TSX under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, nfi.parts, www.alexander-dennis.com, arbocsv.com and carfaircomposites.com.

About Alexander Dennis

Alexander Dennis is a world leader in the design and manufacture of double-decker buses and is also the UK’s largest bus and coach manufacturer. Alexander Dennis offers single and double deck vehicles under the Alexander Dennis and Plaxton brands and has over 31,000 vehicles in service in the UK, Ireland, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada and the United States. Further information is available at www.alexander-dennis.com.

Forward-looking statement

This press release may contain forward-looking statements relating to expected future events and the financial and operating results of Alexander Dennis and the NFI Group that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based on 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’s expectations as projected in these forward-looking statements for a variety of reasons, including general economic and market conditions, as well as economic conditions and the availability of financing for customers who wish to purchase buses and purchase parts or services; customers cannot exercise their options to purchase additional buses; the ability for customers to suspend or terminate contracts for convenience; production may be delayed or production rates may decrease due to the pandemic or current and future supply chain disruptions and shortages of parts and components, shipping and freight delays and disruption of labor supply; risks related to reliance on third-party manufacturers of Alexander Dennis products; and other risks and uncertainties discussed in documents filed with Canadian securities regulatory authorities and available on SEDAR at www.sedarplus.ca.

Due to the potential impact of these factors, 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 the applicable law requires it.

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Stéphane Baguette, +44 1324 678047
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For investor inquiries, please contact:
Stephen King
Such. : 204.792.1300
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/19418aca-0249-46fa-8285-5c34616be2fa