Company: Vicinity Motor Corp
Listings :TSXV , NASDAQ
Ticker: VMC.V & VEV
Market cap at time of publication: $52 MCAD
Stock price at time of publication: $ 1.18 CAD
Target price: 14 CAD by Catalyst Research
Business: Leading supplier of electric, CNG, gas and clean-diesel buses for
both public and commercial enterprise use in the U.S and Canada
Comparable peer : Lion Electric Market
Website: https://vicinitymotorcorp.com/
ESGFIRE comment:
Vicinity Motors has again showed their ingenunity, presenting their VMC 1200 electric last mile delivery vehicle to be upfitted and resold by Omega Liquid Waste Solutions with vacuum system used for sewer, septic tank and grease trap cleaning. This new sales channel should further bolster the already massive sales pipe for 2023.
Full press release below:
Demo VMC 1200 Upfit to be Showcased at the Water & Wastewater Equipment, Treatment & Transport (WWETT) Show in February 2023
VANCOUVER, BC / December 6, 2022 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) (“Vicinity” or the “Company”), a North American supplier of commercial electric vehicles, today announced it has partnered with Québec-based Omega Liquid Waste Solutions (“Omega”) to upfit and resell the Company’s VMC 1200 Class 3 Electric Truck with vacuum system used for sewer, septic tank and grease trap cleaning.
Omega Liquid Waste Solutions is a Canadian market leader offering a solid-liquid separation filtration system with best-in-class technology that can be fitted on any mobile equipment used for sewer, grease trap and septic tank cleaning. The company also provides a wide range of related products that surpass new global standards with eco-efficient solutions.
Omega has purchased and is upfitting a VMC 1200 with its vacuum solution that will be showcased at the Water & Wastewater Equipment, Treatment & Transport (WWETT) Show. WWETT is the world’s largest annual trade show for wastewater and environmental service professionals and is taking place in Indianapolis, Indiana from February 20-23, 2023. Omega intends to purchase additional vehicles for upfit and resale to its North American client base.
“The VMC 1200 is perfectly suited for urban environments and unique waste management applications like Omega’s vacuum solution that services homes, restaurants and businesses for waste collection and disposal,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “Omega’s patented technology and remote-controlled hose deployment is already known for increasing productivity by setting each job in seconds, and pairing it with our medium duty electric truck utilizing proven EV technology and onboard power options will help to further efficiency gains and functionality.
“We look forward to introducing the upfitted model to attendees at the WWETT Show in February and helping Omega’s sales team share the benefits of the VMC 1200 with its base of satisfied customers. With initial VMC 1200 deliveries now underway, we expect sales to gradually ramp up to meet the robust demand we are seeing for this versatile product line,” concluded Trainer.
About Omega Liquid Waste Solutions
Omega Liquid Waste Solutions (Omega LWS) is a leading provider of solid-liquid separation filtration systems, leveraging best-in-class technology for sewer, grease trap and septic tank applications. Pulling on a deep understanding of customer needs, Omega LWS brings to market unique, competitively priced and application-specific products to deliver real value to its customers. Ultimately, the Omega LWS team’s goal is to optimize client productivity, reduce costs and protect the environment. To learn more, please visit the Omega LWS website at https://www.omega-lws.com/.
About Vicinity Motor Corp.
Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) is a North American supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with world-class manufacturing partners to supply its flagship electric, CNG and clean-diesel Vicinity buses, the VMC 1200 electric truck and a VMC Optimal-EV shuttle bus. For more information, please visit www.vicinitymotorcorp.com.
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