TGi Solar Power Group, Inc.
Under the Symbol:
TGI Secures Estimated $50m Contract For 2,500 Firefly ESV (R) Vehicles
Wednesday, January 22, 2020 2:20 PM
NORTH BRUNSWICK, NJ / ACCESSWIRE / January 22, 2020 / TGI SOLAR POWER GROUP INC. (OTC Markets:TSPG) ("TGI"), a diversified technology company, today announced that it has received an order for 2,500 FireFly ESV Essential Service Vehicles. The FireFly ESV vehicles will be used in the Ukraine for traffic control, as well as for a wide variety of utility functions. TGI estimates this contract to be valued at approximately $50M, with all accessories and services expected to be provided. Final numbers will be available when the actual FireFly ESV vehicle configurations and services required are determined.
TGI and ev Transportation Services ("evTS"), provider of the FireFly ESV vehicle, will work diligently to establish a presence in Europe, leveraging established relationships developed by TGI Management. evTS will be responsible for engineering and new vehicle designs, while TGI is responsible for business development, sales, marketing, financing and working with the local workforce. The initial hub for TGI's operations in Europe is being established in Kiev.
TGI CEO Henry Val traveled to Ukraine in December with ADOMANI CEO & CFO (OTC Markets:ADOM, a leading company in the EV industry) to met with various Ministries and Municipal Agencies to discuss establishing a presence in the country to manufacture EVs and components for electric vehicles, as part of Ukraine's push to electrify vehicles in the coming years
Henry Val stated "This is one of many milestones for TGI's soon to be established European Division in the Ukraine. We feel that by securing and fulfilling this first order in the near future with the various branches of Ukrainian local and municipal governments will create a lifelong partnership which in essence is an excellent first step for TGI. This will bring stability and steady revenue to the company and create significant shareholder value. This is one of many steps that we have been working on. Stayed tuned. We will keep you updated on our new developments, as they become available".
About ev Transportation Services, Inc. ("evTS"), http://evtaas.com. evTS' mission is to become premier company in the fleet management solutions business through the design and development of energy efficient all-electric utility vehicles for the "Essential Services" transportation market, providing tightly integrated vehicle connectivity.
About ADOMANI®. ADOMANI, Inc. is a provider of zero-emission electric drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANI is also a provider of new zero-emission electric vehicles focused on reducing the total cost of vehicle ownership, and helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. For more information visit www.ADOMANIelectric.com
About TGI Solar. TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI's strategy is to acquire innovative and patented technologies, components, processes, designs and methods with commercial value that will give competitive market advantage and generate shareholder value. For more information please see www.otcMarkets.com under ticker symbol "TSPG", and visit our Facebook page https://www.facebook.com/TGISolarPower/
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.
For further info:
SOURCE: TGi Solar Power Group, Inc.