GreenPower Motor Company (GPV.V) was at last look up near 30% on Friday after saying it has begun a process of selling its tradable emissions compliance credits earned under various regulations related to zero-emission vehicles (ZEVs), greenhouse gas (GHG) emissions, fuel consumption, renewable energy and clean fuels.
"Through the manufacturing and sale of GreenPower's all-electric, purpose-built, zero-emission commercial trucks, passenger vehicles and school buses, we have generated hundreds of tradable credits and will continue to generate significant numbers of tradable credits" said GreenPower CEO Fraser Atkinson. "We are in discussions with a number of traditional OEM manufacturers and have also engaged veteran brokerage firm, Kardos & Associates LLC, to assist us in selling our credits, which if a sale is completed, based on Tesla's success in trading credits, could generate significant potential revenue for GreenPower."
Atkinson said GreenPower is positioned to benefit by supplying traditional OEMs with the carbon credits needed to ensure compliance with regulations.
GreenPower was last seen up $0.55, to $2.42, on the TSX Venture Exchange.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.