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NFI announces first quarter 2024 results

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Giovedì, Maggio 2, 2024
Conversation, Investment, Risk, Webcast, Growth, EST, NFI, Financial statement, FCA, Documentation, Audit committee, Net, Executive, American Public Transportation Association, Net operating assets, Travel, FCPA, Public expenditure, ICD, LTM, Government, Ernst & Young, ZEB, Fiscal, Eus, History, Senior, Appendix, Bank statement, Scotiabank, WIP

WINNIPEG, Manitoba, May 02, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its unaudited interim condensed consolidated financial results for the first quarter of 2024.

Key Points: 
  • Results noted herein are for the 13-week period ("2024 Q1”) and the 52-week period ("2024 Q1 LTM”) ended March 31, 2024.
  • NFI generated $10 million in cash flows from working capital in the first quarter of 2024, as higher vehicle deliveries lowered finished goods and work-in-process (“WIP”) inventory.
  • NFI anticipates that nearly all of the remaining legacy inflation-impacted contracts will be delivered during the second quarter of 2024.
  • NFI reiterates its previously provided financial guidance for Fiscal 2024 and targets for 2025 as disclosed on January 17, 2024.

NFI subsidiary New Flyer awarded two contracts from New York for up to 2,090 Xcelsior® transit buses

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Lunedì, Marzo 11, 2024
EV, Eus, Federal Transit Administration, OTC, TSX, NFI, New Flyer Xcelsior, VIC, City, MTA, NYCT, FTA, Partnership, Transport

ST. CLOUD, Minn., March 11, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) New Flyer of America Inc. (New Flyer), a subsidiary of NFI Group Inc. (NFI) and North America’s leading manufacturer of heavy-duty transit buses, today announced that it has been awarded two new contracts from the New York City Transit Authority (NYCT) including firm orders for 429 Xcelsior® buses (671 equivalent units or EUs) with options to purchase up to 1,661 additional buses (2,379 EUs) over the next five years.

Key Points: 
  • The battery-electric vehicles manufactured under these contracts will support MTA’s goal of transitioning the agency’s entire bus fleet to zero-emission alternatives by 2040.
  • NYCT’s battery-electric vehicle purchase was supported through the Federal Transit Administration (FTA) Low or No Emission (Low-No) grant program.
  • The EUs from these two contracts were previously included in bid award pending and now move into NFI’s backlog.
  • Since opening in late 2017, the VIC has hosted over 350 interactive events, welcoming 7,000 industry professionals for EV and infrastructure training.

NFI announces fourth quarter and full year 2023 results

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Giovedì, Febbraio 29, 2024
Universe, WIP, Conversation, Eus, Federal Transit Administration, Growth, Net operating assets, NFI, Q4, Round Table, Acceleration, Absorption, Financial statement, Bus, White, APTA, Documentation, ZEB, Bankruptcy, Net, FTA, Fiscal, Task force, Government, Public sector, Risk, Appendix, American Public Transportation Association, Bank

WINNIPEG, Manitoba, Feb. 29, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its audited consolidated financial results for Fiscal 2023.

Key Points: 
  • Results noted herein are for the 13-week period ("2023 Q4”) and the 52-week period ("Fiscal 2023”) ended December 31, 2023.
  • The comparisons reported in this press release compare 2023 Q4 to the 13-week period ("2022 Q4") and Fiscal 2023 to the 53-week period ("Fiscal 2022") ended January 1, 2023.
  • Comparisons and comments are also made to the 13-week period (“2023 Q3”) ended October 1, 2023.
  • NFI generated $19 million in cash flows from working capital in the fourth quarter as higher vehicle deliveries lowered finished goods and work-in-progress inventory.

European Parliament Votes to Support Proposal for the Regulation of New Genomic Techniques

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Mercoledì, Febbraio 7, 2024
Nature, Policy, Plant, CBUS, SAN, Civil service commission, Senior, NGT, Legislation, Agriculture, Gene editing, NASA Exoplanet Archive, Environment, European, Food, Government, Climate, Pesticide, European Commission, European Parliament, EU Council, International development, Disease, Natural Resources, Farmer, Eus, European Council, MEP, Breeding, Parliament

The European Parliament completes a landmark vote in favour of the European Commission proposal to introduce a new regulation for plants obtained by certain new genomic techniques (NGTs) and their food and feed.

Key Points: 
  • The European Parliament completes a landmark vote in favour of the European Commission proposal to introduce a new regulation for plants obtained by certain new genomic techniques (NGTs) and their food and feed.
  • Cibus applauds the EU Parliament supporting a science-based approach developed following many years of discussion and engagement with stakeholders and expert groups.
  • The EU Parliament met 5-8 February in Strasbourg and, following a debate on Tuesday Feb 6th, the Parliament voted in favour of the NGT legislation the following day.
  • MEP and rapporteur Jessica Polfjärd said of the vote, “Historic step forward: the European Parliament supports my proposal for sustainable use of new genomic techniques (NGT).

NFI Announces Third Quarter 2023 Results

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Mercoledì, Novembre 8, 2023
Universe, Documentation, Sale, Financial statement, NFI, Net operating assets, MCI, Government, Conversation, Fiscal, ZEB, Net, Eus, Appendix, Bank statement, Environment, LTM, Q3, Public sector, Growth, COVID-19, Liquidity, Private sector, Aircraft, Investment, Typhoon Zeb, Construction, Video game, Security (finance), Bank, Cryptocurrency, Adjustment, Insurance, EU

WINNIPEG, Manitoba, Nov. 08, 2023 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its unaudited interim condensed consolidated financial results for the third quarter of 2023.

Key Points: 
  • Results noted herein are for the 13-week period ("2023 Q3”) and the 52-week period ("LTM 2023 Q3”) ended October 1, 2023.
  • Comparisons and comments are also made to the 13-week period (“2023 Q2”) ended July 2, 2023.
  • In 2023 Q3, NFI also saw an increase in orders for ARBOC and MCI vehicles, up 93% and 47% year-over-year respectively.
  • NFI also reaffirms its Fiscal 2024, and its 2025 targets, as presented on March 1, 2023.

NFI Announces Second Quarter 2023 Results and Update on Comprehensive Refinancing Plan

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Mercoledì, Agosto 16, 2023
Universe, Insurance, COVID-19, Net, LOC, LTM, Government, Typhoon Zeb, EBITDA, ZEB, Eus, NFI, Bank, Auction, Adjustment

WINNIPEG, Manitoba, Aug. 16, 2023 (GLOBE NEWSWIRE) -- August 16, 2023: (TSX: NFI, OTC: NFYEF, TSX: NFI.DB, TSX: NFI.R) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its unaudited consolidated financial results for the second quarter of 2023.

Key Points: 
  • Post-completion of the Refinancing Plan, the minimum liquidity requirement under the senior facilities will increase to $50 million.
  • If the Refinancing Plan is not completed by August 31, 2023, the Company will require relief from the lenders under its senior secured facilities and potentially additional liquidity support.
  • NFI experienced significant improvement in supplier performance and on-time production during the quarter, supporting a 66% year-over-year increase in bus and coach deliveries.
  • NFI also reaffirms its Fiscal 2024, and its 2025 targets, as presented on March 1, 2023.

IDTechEx Looks at the Impact of the European Critical Raw Materials Act on Electric Motors

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Giovedì, Luglio 20, 2023
Database, Research report, EV, OM, Alnico, Lev, Neodymium magnet, Research, European Commission, Recycling, Electric vehicle, EVS, BMW, European, Magnet, Eus, Renault, OEM, Family, CE, Microcar, SME, Aircraft, Rare-earth element, Electric motor, PM, EU, Audi, TB

BOSTON, July 20, 2023 /PRNewswire/ -- The European Commission has proposed the Critical Raw Materials Act to "ensure the EU's access to a secure, diversified, affordable and sustainable supply of critical raw materials".

Key Points: 
  • BOSTON, July 20, 2023 /PRNewswire/ -- The European Commission has proposed the Critical Raw Materials Act to "ensure the EU's access to a secure, diversified, affordable and sustainable supply of critical raw materials".
  • This act could have big implications for various technologies and markets, but one that is growing rapidly with a heavy reliance on critical raw materials is the electric vehicle (EV) market, specifically electric motors.
  • IDTechEx's latest research report on electric motors predicts that yearly demand for rare earth magnets in EV motors will surpass 1 billion kg by 2031.
  • IDTechEx's latest iteration of "Electric Motors for Electric Vehicles 2024-2034" takes a deep dive into motor technology, market adoption, material utilization, and market forecasts.

IDTechEx Looks at the Impact of the European Critical Raw Materials Act on Electric Motors

Retrieved on: 
Giovedì, Luglio 20, 2023
Database, Research report, EV, OM, Alnico, Lev, Neodymium magnet, Research, European Commission, Recycling, Electric vehicle, EVS, BMW, European, Magnet, Eus, Renault, OEM, Family, CE, Microcar, SME, Aircraft, Rare-earth element, Electric motor, PM, EU, Audi, TB

BOSTON, July 20, 2023 /PRNewswire/ -- The European Commission has proposed the Critical Raw Materials Act to "ensure the EU's access to a secure, diversified, affordable and sustainable supply of critical raw materials".

Key Points: 
  • BOSTON, July 20, 2023 /PRNewswire/ -- The European Commission has proposed the Critical Raw Materials Act to "ensure the EU's access to a secure, diversified, affordable and sustainable supply of critical raw materials".
  • This act could have big implications for various technologies and markets, but one that is growing rapidly with a heavy reliance on critical raw materials is the electric vehicle (EV) market, specifically electric motors.
  • IDTechEx's latest research report on electric motors predicts that yearly demand for rare earth magnets in EV motors will surpass 1 billion kg by 2031.
  • IDTechEx's latest iteration of "Electric Motors for Electric Vehicles 2024-2034" takes a deep dive into motor technology, market adoption, material utilization, and market forecasts.

Toronto Transit Commission awards NFI contract for up to 621 New Flyer battery-electric heavy-duty transit buses

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Lunedì, Giugno 5, 2023
Partnership, EV, North American Bus Industries, TTC, New Flyer Xcelsior, Toronto Transit Commission, OTC, Toronto Transit Commission bus system, TSX, City, Eus, VIC, NFI, Transport, Airline, New Flyer

WINNIPEG, Manitoba, June 05, 2023 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced that the Toronto Transit Commission (“TTC”) has awarded its subsidiary New Flyer Industries Canada ULC (“New Flyer”) a new five-year contract for 40-foot battery-electric buses. The total contract includes a firm order for 186 Xcelsior CHARGE NG™ heavy-duty transit buses, as well as the option for TTC to purchase up to an additional 435 of the same buses, for a total potential order of 621 buses over the duration of the contract.

Key Points: 
  • NFI added 261 buses to the company’s backlog in the first quarter of 2023 based on TTC’s initial base firm and option order.
  • In total, TTC awarded New Flyer 60% of this initial procurement, the highest award to any manufacturer.
  • The contract also includes options for other agencies in Ontario to enter into their own agreements with New Flyer for up to 550 buses over four years.
  • That four-year contract includes options for up to an additional 263 40-foot hybrid-electric buses and 100 60-foot buses, respectively.

CameraMatics Showcases the Most Advanced AI-Based Collision Avoidance System, Providing Drivers with Unparalleled Awareness

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Martedì, Aprile 18, 2023
Consumer Electronics, Security, Automotive, Other Automotive, Technology, Audio, Video, Hardware, DAS, Driver monitoring system, GSR, Accident, Deep learning, Blind spot monitor, Multimedia, History, MOIS, Algorithm, Eus, Pedestrian, Safety, Fatigue, DMS, Mobile phone, Rail transport

CameraMatics , a leading global driver safety provider, today announced the most advanced AI-powered collision avoidance system on the market, promising to radically improve driver reaction times and blind spot visibility.

Key Points: 
  • CameraMatics , a leading global driver safety provider, today announced the most advanced AI-powered collision avoidance system on the market, promising to radically improve driver reaction times and blind spot visibility.
  • View the full release here: https://www.businesswire.com/news/home/20230418005739/en/
    Fleet operators will be able to empower their drivers with i-DAS (Intelligent Driver Assistance System), which also includes DMS (Driver Monitoring System) to provide drivers with unparalleled awareness of vulnerable road users and distractions.
  • The system’s external AI cameras feature adjustable detection zones of up to 30 meters, providing perfect coverage of risk zones.
  • More importantly, i-DAS can help to make roads safer for all.”
    i-DAS is available to CameraMatics customers from today.