New Flyer Awarded $3.4 Million from Sustainable Development Technology Canada to Further Advance Battery-Electric Bus

New Flyer Awarded $3.4 Million from Sustainable Development Technology Canada 
to Further Advance Battery-Electric Bus Technology 
WINNIPEG, Oct. 26, 2012 /CNW/ - (TSX:NFI; TSX:NFI.DB.U) New Flyer Industries 
Inc. ("New Flyer" or the "Company"), the leading manufacturer of heavy-duty 
transit buses in Canada and the United States, along with its consortium 
partners, announced today that it has been awarded $3.4 million in funding 
through Sustainable Development Technology Canada ("SDTC") to further enhance 
rapid-charge battery-electric bus propulsion technology. 
The funding will contribute to on-going work to create the future of green 
public transportation underway here in Manitoba with New Flyer's consortium 
partners, which includes the Manitoba Government, Manitoba Hydro, Mitsubishi 
Heavy Industries, Ltd., Red River College and Winnipeg Transit. 
"Today's announcement is welcome news for our community. Our government is 
helping Canadian business develop innovative new energy technologies and 
create Canadian jobs - including right here in Winnipeg," said Lawrence Toet, 
Member of Parliament for Elmwood - Transcona, Winnipeg, on behalf of the 
Honourable Joe Oliver, Canada's Minister of Natural Resources. "This electric 
bus technology developed by New Flyer is an example of clean energy innovation 
that provides Canadians with high-quality jobs and contributes to our long 
term prosperity." 
"This is a clear example of how cleantech can truly revolutionize an industry: 
we have here a technology that will bring down operational costs while 
reducing emissions," said Vicky Sharpe, President and CEO of SDTC. "Together 
with its partners, New Flyer will put this technology to the test - a move 
that could revolutionize Canada's transportation industry." 
"Made-in-Manitoba clean energy technology will be the future of public 
transit," said Manitoba Premier Greg Selinger. "I'm thrilled the work we are 
doing here is attracting new partners to help us continue to move forward with 
the development of green mass transit vehicles to be used here and around the 
world." 
The SDTC project involves the development and implementation of four 
rapid-charge battery-electric transit buses and a high capacity charging 
station. These buses are targeted to be delivered in the fourth quarter of 
2013 and will be operated by Winnipeg Transit in revenue service over a 
four-year period. This project will examine the technology and key 
operational performance issues including: the charging system, battery 
capacity, component life and reliability and the assessment of both 
operational and life cycle cost savings. 
This announcement comes on the heels of the consortium partners unveiling of 
the battery-electric bus prototype on June 1, 2012, an award by the Chicago 
Transit Authority to New Flyer on June 21, 2012 for two battery-electric buses 
and the unveiling of two New Flyer all-electric accessory hybrid-electric 
buses by Minneapolis Metro on August 14, 2012. New Flyer's electrification 
development has been focused on the Xcelsior platform, the Company's highly 
successful next-generation transit bus. 
"We're really 'charged up' by the interest in our battery-electric bus," said 
Paul Soubry, New Flyer's President and Chief Executive Officer. "This 
important project further allows us to execute on our electrification strategy 
and pushes closer to the critical point of cost-effective commercialization of 
this propulsion technology in bus applications." Soubry added, "We acknowledge 
the Canadian Government's recognition of clean technology and appreciate 
SDTC's substantial support in developing a sustainable future in 
battery-electric bus technology. This project will help identify and resolve 
technical and economic operational issues in the real world battery-electric 
transportation, advancing it closer to commercial reality." 
Zero-Emission battery-electric propulsion transit buses are expected to 
significantly reduce green house gas and smog-causing criteria air contaminant 
emissions. In Manitoba, where the electrical grid is highly renewable (>98% 
electricity is generated without burning fuel), the use of electric propulsion 
buses are expected to translate to an estimated reduction of 160 tonnes (or 
nearly all) of carbon dioxide equivalent emissions per bus per year, compared 
to the diesel propulsion transit buses currently operated by Winnipeg Transit. 
"For us it's all about improving service to our customers. If we can have 
quiet, comfortable, long life buses with lower emissions and lower operating 
costs, it is a big win for our organization and our community," said Dave 
Wardrop, Director of Winnipeg Transit. 
All dollar amounts in this release are stated in Canadian currency. 
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in Canada 
and the United States. The Company's three manufacturing facilities - in 
Winnipeg, MB; St. Cloud, MN and Crookston, MN - are all ISO 9001, ISO 14001 
and OHSAS 18001 certified. The Company currently operates a parts 
fabrication facility in Elkhart, IN and four parts distribution centers in 
Winnipeg, MB; Brampton, ON; Erlanger, KY and Fresno, CA. The Company also 
operates a service center in Arnprior, ON. 
With a skilled workforce of over 2,000 employees, New Flyer is a technology 
leader, offering the broadest product line in the industry, including drive 
systems powered by clean diesel, LNG, CNG and electric trolley as well as 
energy-efficient diesel-electric hybrid vehicles. New Flyer has delivered 
over 32,000 heavy-duty buses in Canada and the United States. All products 
are supported with an industry-leading, comprehensive parts and service 
network. Further information is available on New Flyer's web site at 
www.newflyer.com. 
The common shares and convertible unsecured subordinated debentures of New 
Flyer are traded on the Toronto Stock Exchange under the symbols NFI and 
NFI.DB.U, respectively. 
About Sustainable Development Technology Canada (SDTC)
On behalf of the Government of Canada, Sustainable Development Technology 
Canada (SDTC) helps commercialize Canadian clean technologies, readying them 
for growth and export markets. With a portfolio of companies under 
management valued at more than $2 billion, SDTC is demonstrating that 
cleantech is a driver of jobs, productivity and economic prosperity. 
SDTC operates two funds aimed at the development and demonstration of 
innovative technological solutions. The $590 million SD Tech Fund™ 
supports projects that address climate change, air quality, clean water, and 
clean soil. The $500 million NextGen Biofuels Fund™ supports the 
establishment of first-of-kind large demonstration-scale facilities for the 
production of next-generation renewable fuels. 
SDTC works with the private sector, the financial sector and all levels of 
government to meet the Government of Canada's commitment to create a healthy 
environment and a high quality of life for all Canadians. SDTC operates as a 
not-for-profit corporation. For more information: www.sdtc.ca. 
Forward-Looking Statements
This press release may contain forward-looking statements relating to expected 
future events and financial and operating results of New Flyer that involve 
risks and uncertainties. Although the forward-looking statements contained 
in this press release are based upon what management believes to be reasonable 
assumptions, investors cannot be assured that actual results will be 
consistent with these forward-looking statements, and the differences may be 
material. Actual results may differ materially from management expectations 
as projected in such forward-looking statements for a variety of reasons, 
including market and general economic conditions, battery-electric propulsion 
on transit buses is still largely unproven technology and there is no 
assurance that such technology will result in a product desired by customers, 
the prototype buses must be tested and proven in operating conditions, a 
commercialized product must be marketed and sold to potential customers, there 
may be no significant demand for an all-electric bus from customers, the 
economic conditions of and funding availability for customers to purchase 
buses and to purchase parts or services and the other risks and uncertainties 
discussed in the materials filed with the Canadian securities regulatory 
authorities and available on SEDAR at www.sedar.com. Due to the potential 
impact of these factors, New Flyer disclaims any intention or obligation to 
update or revise any forward-looking statements, whether as a result of new 
information, future events or otherwise, unless required by applicable law. 
Jon Koffman, Investor Relations Tel: (204) 224-6672 
SOURCE: New Flyer Industries Inc. 
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CO: New Flyer Industries Inc.
ST: Manitoba
NI: TRN  
-0- Oct/26/2012 16:05 GMT