GreenPower Motor Company has announced accelerated production of its electric school bus lineup, supported by a financing facility of up to $18 million, deployable in tranches of up to $2 million. The facility is designed to optimize cash conversion cycles, enabling GreenPower to match capital deployment with production timing as the company scales output.
GreenPower manufactures both a Class 4 Type A bus (the Nano BEAST) and a Class 8 Type D school bus (the BEAST). The company says its vertically integrated, purpose-built platform strategy positions it to to capture share as the school transportation sector transitions to zero-emission fleets.
“With more than $50 million in contracted orders for our Nano BEAST and BEAST school buses, this facility allows us to convert backlog into deliveries more efficiently,” said Fraser Atkinson, CEO of GreenPower. “Before finalizing the facility, we pre-built over 100 Nano BEAST cab chassis and 30 BEAST chassis, significantly reducing production lead times. This creates a clear path toward accelerated revenue recognition, margin expansion and improved operating cash flow.”
Source: GreenPower
