Blue Bird Applauds EPA Doubling its Clean School Bus Rebate Awards to Nearly $1 Billion
Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and low-emission school buses, lauds yesterday’s announcement by the U.S. Environmental Protection Agency (EPA) to double the funding awarded for clean school buses to nearly $1 billion this year. The rebate program accelerates the replacement of diesel-powered school buses with zero- and low-emission school buses. The funds will also assist school districts and other eligible participants to establish the required clean energy infrastructure.
In May, EPA had announced the availability of $500 million, but given overwhelming demand from school districts across the country, EPA is nearly doubling the amount of funding that will be awarded to $965 million. EPA received around 2,000 applications requesting nearly $4 billion for over 12,000 buses. More than 90 percent of buses requested were for zero-emission electric buses.
“The tremendous response to the EPA's Clean School Bus Rebate Program clearly demonstrates that school districts across all 50 U.S. states are ready to transition to electric, zero-emission school buses, thereby, putting student and community health first,” said Matthew Stevenson, president and CEO, Blue Bird Corporation. ”Blue Bird is poised to meet increasing demand and continues to ramp up electric school bus production to 20 vehicles a day by 2023.”
The 2022 Clean School Bus Rebate Program is part of the Bipartisan Infrastructure Law (BIL) which provides a total of $5 billion over five years for clean school bus transportation. The rebate program prioritizes low-income, rural, and Tribal communities. The vast majority of applicants met the priority definition under the 2022 Clean School Bus Rebates criteria, resulting in access to more funds for buses and electric vehicle infrastructure for schools in areas that need them the most.
About Blue Bird Corporation
Blue Bird (NASDAQ: BLBD) is recognized as a technology leader and innovator of school buses since its founding in 1927. Our dedicated team members design, engineer and manufacture school buses with a singular focus on safety, reliability, and durability. Blue Bird buses carry the most precious cargo in the world – the majority of 25 million children twice a day – making us the most trusted brand in the industry. The company is the proven leader in low- and zero-emission school buses with more than 20,000 propane, natural gas, and electric powered buses in operation today. Blue Bird is transforming the student transportation industry through cleaner energy solutions. For more information on Blue Bird's complete product and service portfolio, visit www.blue-bird.com.
The Blue Bird Stock currently trades with a raise of +1,69 % to 8,40USD on the Nasdaq stock exchange.