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SEARCHA new financing facility supports conversion of more than $50 million in contracted school bus orders.
“Before finalizing the facility, we pre-built over 100 Nano BEAST cab chassis and 30 BEAST chassis, significantly reducing production lead times," said Fraser Atkinson, CEO of GreenPower.
Photo: School Bus Fleet
GreenPower Motor Company announced accelerated production of its all-electric school bus lineup, supported by a financing facility of up to $18 million, deployable in portions of up to $2 million.
According to a company release, the facility is designed to optimize cash conversion cycles, enabling GreenPower to match capital deployment with production timing as the company scales output.
“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,” Atkinson said.
GreenPower offers a fully electric Class 4 Type A and Class 8 Type D school bus. This platform strategy positions the company to capture share as the school transportation sector transitions to zero-emission fleets supported by federal and state incentives.
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