BRIEF-Spruce Power Announces Actions To Exit Legacy XL Fleet Drivetrain Business

Reuters

2022-12-19

Dec 19 (Reuters) - Spruce Power Holding Corp :

* 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

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com))

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