Business
Blue Bird and Generate Capital Establish "Clean Bus Solutions," a Fleet Electrification-as-a-Service Joint Venture
Vertically-Integrated Joint Venture to Accelerate Adoption of Electric School Buses MACON, Ga.--(BUSINESS WIRE)-- Blue Bird Corporation (Nasdaq: BLBD), the
About this update from Blue Bird Corporation
[{"type":"text","content":"\nVertically-Integrated Joint Venture to Accelerate Adoption of Electric School Buses\n\n\n MACON, Ga.--(BUSINESS WIRE)--\nBlue Bird Corporation (Nasdaq: BLBD), the leader in electric and low-emission school buses, and Generate Capital, a leading sustainable investment and operating company, have formed a joint venture (JV) named Clean Bus Solutions, LLC to meet the increasing demand for electric school buses and accelerate the adoption of clean transportation of students in North America.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231207894836/en/\nThe joint venture’s fleet electrification-as-a-service offering will make it simpler for school districts to upgrade to advanced electric vehicles (EVs) by offering electric school buses and associated charging infrastructure at an affordable monthly fee. This turnkey electrification solution will include Blue Bird’s best-selling and widest range of electric school buses in the industry, financing of both electric vehicles and charging infrastructure, project planning and management as well as fleet and charging optimization. The JV will help school districts accelerate the electrification of their fleets while delivering new revenue and profit streams to Blue Bird and its dealers. In addition to the traditional up-front vehicle sale, Blue Bird’s ownership in the JV will generate additional recurring revenue from the financing and charging infrastructure services that are paid over the vehicle lifetime and from the maintenance and repair services delivered through Blue Bird’s dealer network.\n\n\nGenerate’s flexible capital solutions, expertise in Infrastructure-as-a-Service solutions, established project developer network and existing decarbonization contracts with school districts complement Blue Bird’s mobility solutions and can help reduce the eight million metric tons of emission generated each year by diesel-powered school buses in the U.S.\n\n\n“We are excited to partner with Generate Capital to provide a market-leading fleet electrification-as-a-service offering. Blue Bird’s customers are poised to benefit greatly from Generate’s sustainable investment expertise and flexible financial resources,” said Phil Horlock, CEO of Blue Bird Corporation. “Through the JV, school districts will continue to be supported ...