EVO Transportation & Energy Services acquires Thunder Ridge Transport

   EVO Transportation & Energy Services, Inc., an alternative fuel services company and emerging transportation operator, today announced that it has acquired Thunder Ridge Transport, Inc. This acquisition represents EVO's first acquisition as part of a new strategy to take advantage of the stated U.S. Postal Service (USPS) initiative to streamline its contractor network, enhance efficiency and prioritize alternative energy transportation options.

   "EVO has identified a compelling opportunity in an evolving ecosystem of USPS transportation contractors, and we have refocused our corporate strategy to leverage our footprint of CNG stations and relationships with owner-operators to build a national fleet of haulers," said John Yeros, Chief Executive Officer of EVO. "The USPS has been contracting out portions of its transportation system for more than a century to local and regional service providers. In 2014, it was announced that the USPS would look to drastically reduce their supplier base from over 4.000 contractors to less than 1.000 by 2022. As part of this consolidation effort, the USPS began implementing the Dynamic Route Optimization Program (DRO) which is designed to manage fewer relationships and work with larger prime contractors who are compliant, efficient, and flexible. As a result, it is estimated that over $1 billion in DRO contracts will become available in the next five years."

   "This is an ideal acquisition for EVO, broadening our CNG fleet and giving us immediate access to 13 USPS contracts in nine states, and a platform to aggressively bid on new opportunities as we shift our strategic focus to position the company as a service supplier within the USPS hauling network, a highly fragmented, estimated to be a $5 billion industry," stated Mr. Yeros.