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XL Fleet Partnering with Curbtender to Develop All-Electric and Plug-in Hybrid Refuse Trucks

BOSTON--()--XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leader in fleet electrification solutions with over 145 million customer miles driven, today announced it has entered into a strategic partnership with Curbtender, a market leader in Under CDL refuse trucks and a pioneer in automated side loader collection. Under the terms of the agreement, XL Fleet and Curbtender will jointly develop a series of battery electric (BEV) and plug-in hybrid electric (PHEV) commercial trucks for use in waste management applications.

The two companies have committed to developing and launching a battery electric refuse vehicle equipped with an XL Electric™ propulsion system and a Curbtender Quantum rear loader refuse truck body within the next year. The agreement also includes the joint development of plug-in hybrid electric versions of the vehicle, as well as a range of Class 3 – Class 8 vehicle solutions for the waste management industry.

Partnership Addresses Growing Demand for Sustainable Refuse Solutions

Refuse trucks represent a $7 billion market segment within the global commercial fleet industry, with over 62,000 units sold globally in 2018 and growing annually by four percent. Refuse collection trucks travel 25,000 miles annually on average and contribute around 1.4% of the transportation industry’s overall fuel consumption, making them an attractive application for electrification and reflecting a high-impact opportunity to drive decarbonization within the commercial sector.

Demand for sustainable vehicle solutions in this market has grown steadily in recent years, and XL Fleet and Curbtender expect to be well positioned to serve that demand through this partnership. Refuse collection vehicles have extremely demanding drive cycles, and both companies are committed to delivering reliable electrified solutions that meet the operating needs of customers while also satisfying their increasingly strict sustainability and cost targets.

“This partnership represents several exciting milestones that are well aligned with XL Fleet’s product and business strategy,” said Dimitri Kazarinoff, XL Fleet Chief Executive Officer. “As our first publicly referenced all-electric powertrain and our first Class 6 application for the waste management industry, we believe the EV Quantum and other jointly developed products with Curbtender will open up multiple new market opportunities for the Company in the coming years.”

“Curbtender has always prided itself on its long history of durability, performance and innovation in commercial waste management,” said Kevin Watje, Curbtender Chief Executive Officer. “The industry is eager to realize the environmental, cost and sustainability benefits of electrified vehicles, and our partnership with XL Fleet will allow us to move quickly in getting these trucks into our customers’ hands.”

For additional information, please visit XL Fleet’s Investor Relations website at https://investors.xlfleet.com.