Brief: Spruce Power Announces Actions To Exit Legacy XL Fleet Drivetrain Business

Spruce Power Holding

19/12/2022 12:42

Dec 19 (Reuters) - Spruce Power Holding Corp  SPRU.N :
    * SPRUCE POWER ANNOUNCES ACTIONS TO EXIT LEGACY XL FLEET
DRIVETRAIN BUSINESS
    * SHYFT WILL ASSUME COMPLETION OF A PILOT DEVELOPMENT
AGREEMENT
WITH DEPARTMENT OF DEFENSE RELATED TO VEHICLE HYBRIDIZATION
    * ENTERED INTO A DEFINITIVE AGREEMENT WITH SHYFT GROUP USA
INC, A
WHOLLY OWNED SUBSIDIARY OF SHYFT GROUP INC
    * SPRUCE WILL RETAIN RIGHTS TO POTENTIAL FUTURE ROYALTIES
FROM DOD
PROGRAM
    * SPRUCE HAS SOLD CERTAIN BATTERY INVENTORY AND ITS LEGACY
HYBRID
TECHNOLOGY TO RMA GROUP

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