California Energy Commission Awards a $3M Grant to BorgWarner, Fermata Energy and Lion Electric for Innovative Vehicle-to-Grid Project with Bus Operator American Transportation to Service Student Transportation for California School Districts
Portfolio Pulse from Benzinga Newsdesk
The California Energy Commission awarded BorgWarner Inc. and partners Fermata Energy and The Lion Electric Company a $3M grant for a Vehicle-to-Grid project to support California school districts with electric school buses. This initiative aims to enhance energy management and transition to electric buses, providing grid-supporting and cost-saving solutions.
March 18, 2024 | 11:50 am
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POSITIVE IMPACT
BorgWarner Inc. receives a $3M grant for a V2G project with partners, aiming to support electric school buses in California.
The grant signifies recognition and support from the California Energy Commission, potentially boosting BorgWarner's visibility and positioning in the electric vehicle and energy solutions market. This could lead to positive investor sentiment in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
The Lion Electric Company partners in a $3M grant project for Vehicle-to-Grid solutions, targeting electric school buses in California.
Receiving this grant alongside BorgWarner and Fermata Energy, Lion Electric is set to benefit from increased exposure and potential sales in the electric school bus market. This development is likely to be viewed positively by investors, enhancing Lion Electric's stock appeal in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90