XL Fleet Electrifying Apex Clean Energy Pickup Fleet

The leading clean energy company is electrifying its truck fleet with XL Fleet plug-in hybrid and hybrid systems for its F-series pick-ups

The electrification investment of the Apex fleet will support their commitment to reducing CO2 emissions

The vehicles were taken over by XL Fleets Fleet Management Company (FMC) partner Enterprise Fleet Management for Apex

XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leading provider of fleet electrification solutions; and Apex Clean Energy (“Apex”), a leading clean energy company that designs, builds and operates wind and solar power plants on a supply scale across North America announced today that XL Fleet is electrifying Apex’s fleet of vehicles as part of an extensive effort to reduce carbon emissions.

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With the first investment by Apex in the electrification of vehicles, 19 electrified pick-ups of the Ford F-series, including ten plug-in hybrid-electric and nine hybrid-electric systems for pickups in the service fleet, delivered. The Strategy The mix of hybrid and plug-in hybrid electric vehicles is in line with Apex’s current sustainability goals and operational requirements and allows it to expand its electrification investments as more vehicles are replaced in the future.

XL Fleet’s electrification systems enable Apex to provide its project teams with a variety of cleaner, more fuel-efficient vehicles as Apex installs renewable energy generation equipment and facilities across North America. Apex plans to provide the plug-in hybrid vehicles to its operations staff, who will have access to a charging infrastructure that will be installed in operational wind and solar systems. The hybrid vehicles are expected to be used on site by the Apex construction team, which currently has no regular access to the charging infrastructure and will benefit from the regenerative braking of the XL Fleet hybrid system. Over the past decade, Apex has commercialized $ 9 billion worth of wind and solar projects that offer a clean energy opportunity of nearly 7 GW.

The story goes on

“XL Fleet and Apex Clean Energy share a common goal of providing sustainable products and services that protect our environment. We are proud to become Apex’s electrified vehicle partner as they want to take immediate and meaningful steps to reduce their carbon footprint.” he said to Brian Piern, VP of sales and marketing for XL Fleet.

“As an enterprise-driven company with sustainability at the heart of what we do, Apex is driving the transition to a clean energy economy, and XL Fleet is an ideal partner to bring that core value to our transportation decisions,” said Mark Goodwin, President and CEO of Apex Clean Energy. “With XL Fleet we can immediately work towards our goals of reducing CO2 emissions by electrifying our vehicle fleet with proven solutions that make very good financial sense.”

This use of electrified pickups reflects XL Fleet’s wide range of plug-in hybrid and hybrid solutions for some of the fleet industry’s most popular light and medium-duty utility vehicles, including the company’s latest plug-in and hybrid offerings for Chevrolet Silverado and GMC include Sierra HD models.

The Ford F-Series pickups electrified for Apex were taken over by XL Fleet’s partner in Fleet Management Company (FMC), Enterprise Fleet Management, as part of this transaction. Enterprise is a leading full-service provider of fleet management functions, including vehicle procurement, financing, maintenance and more. Enterprise takes a sustainable approach to its business practices and actively supports fleet customers in managing their carbon footprint.

About XL Fleet Corp.

XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America. Customers like The Coca-Cola Company, Verizon, Yale University, and the city of Boston drive more than 150 million miles. XL Fleet’s hybrid and plug-in hybrid electric propulsion systems can cut fuel consumption by up to 25 to 50 percent and carbon dioxide emissions by up to 20 to 33 percent, lower operating costs and meet sustainability goals, and improve fleet operations. XL Fleet’s plug-in hybrid electric propulsion system was recognized as one of TIME magazine’s best inventions of 2019. More information is available at www.xlfleet.com.

About Apex Clean Energy

Apex Clean Energy designs, builds and operates utility-scale wind and solar power plants across North America. Our enterprise-focused team of 250+ renewable energy experts use a data-driven approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information on how Apex is driving the transition to a clean energy future, please visit apexcleanenergy.com or follow us on Facebook, Twitter and LinkedIn.

Forward-Looking Statements

Certain statements in this press release may be “forward-looking statements” within the meaning of the Federal Securities Act. Forward-looking statements are generally accompanied by words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “would”. “Plan,” “predict,” “potential,” “appear,” “seek,” “future,” “prospect” and similar expressions that predict or indicate future events or trends, or are not statements of historical matters. These statements are based on various assumptions, whether or not mentioned in this press release, and management’s current expectations and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including, but not limited to, not realizing the anticipated benefits of the business combination. the impact of pending and future legislation; the high competitiveness of the company and the market for the electrification of commercial vehicles; Litigation, complaints, product liability claims and / or adverse publicity; Increases in costs or bottlenecks in the components or chassis required to support the company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; Data protection laws, data protection or data protection breaches, or data loss; general economic, financial, legal, political and business conditions as well as changes in domestic and foreign markets; the inability to convert its opportunity pipeline into firm orders; Risks associated with the company’s inception of business and the timing of anticipated business milestones; the impact of competition on the company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in our Annual Report on Form 10-K, filed March 31, 2021, and other future filings by the Company with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results of these forward-looking statements. These forward-looking statements speak only as of the date of this document, and the company expressly disclaims any obligation to update these forward-looking statements.

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