Arclight Clean Transition Corp (NASDAQ:ACTC) stock price is up 10% during pre-market on Wednesday, following the biggest E-school bus deal in U.S.
The Board of Education in Maryland’s Montgomery County voted unanimously on Tuesday evening to approve a 16-year, $169 million contract to lease 326 buses, part of a plan that could result in the county replacing its entire 1,422-bus fleet over the next 20 years.
The vehicles will be built by Thomas Built Buses Inc. and Proterra. Proterra is an electric vehicle (EV) company with a focus on buses. Proterra announced on Jan. 12 a plan to go public with the help of Boston-based ArcLight Clean Transition Corp.,a special purpose acquisition company (SPAC).