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HOUSTON - Envirotech Vehicles, Inc. (NASDAQ:EVTV), a small-cap electric vehicle manufacturer with a market capitalization of $4.55 million, has delivered an EVT Bumble Bee electric school bus to Kopperl Independent School District in Texas, the company announced Thursday.
The delivery is part of the U.S. Environmental Protection Agency’s Clean School Bus Program, which awarded $8.57 million for the production and distribution of 25 electric school buses by Envirotech to school districts in Texas and Arkansas.
"We have now completed four bus deliveries in the past 15 days," said Jason Maddox, President and Interim Chief Financial Officer of Envirotech.
The EVT Bumble Bee electric school bus has a range of up to 150 miles on a single charge with zero emissions. The vehicle features reduced maintenance costs due to regenerative braking and no engine or exhaust system.
Kopperl ISD Superintendent Katrina Adcock was present for the delivery, according to the company’s press release statement.
The Clean School Bus Program was established to provide $5 billion over five years to replace existing school bus fleets with zero-emission vehicles. Envirotech stated it anticipates additional school bus deliveries this year.
Envirotech Vehicles designs and manufactures electric commercial vehicles. The company trades on the Nasdaq under the ticker EVTV. While the company faces current challenges with cash burn, InvestingPro analysis reveals 15+ additional insights about EVTV’s financial health and growth prospects, available to subscribers.
In other recent news, Envirotech Vehicles, Inc. has delivered its first three EVT Bumble Bee electric school buses to school districts in Freer, Blanket, and Waelder, Texas. These deliveries mark the start of commercial operations for the company’s electric school bus division, supported by the U.S. Environmental Protection Agency’s Clean School Bus Program, which allocates $5 billion over five years to transition to zero-emission buses. Envirotech plans to deliver a total of 25 electric buses to Texas and Arkansas, with $8.57 million awarded under the program. The EVT Bumble Bee buses offer a range of up to 150 miles per charge, with benefits such as reduced maintenance costs due to regenerative braking. Furthermore, Envirotech announced plans to expand its electric mobility solutions across land, air, and sea, aiming to create a "unified ecosystem" that includes agricultural drones and electric watercraft. In a related development, the company has signed a non-binding Letter of Intent to acquire assets from Kymera, a marine craft manufacturer, signaling its entry into the electric marine sector. This acquisition is expected to be finalized in the second quarter of 2025, pending due diligence and agreement negotiations.
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