36. Zum
Parents can say goodbye to the days of their child missing the school bus.
Through an EV school bus meets Uber-ride convenience hybrid transportation business model, Zum is using technology to disrupt a student transportation market estimated to be worth as much as $50 billion.
With the use of AI and cloud computing, Zum has created a mobile application with live bus maps that allow parents to know when the school bus is coming, when their child has arrived at school and when their child is coming home. This application also serves as a means of communication between parents and drivers regarding route changes, student ride cancellations and snow days.
On top of these safety and convenience measures, Zum's EV buses have helped offset 8.4 million metric tons of greenhouse gas emissions annually. Yet, what makes Zum's EV model even more appealing to schools is its ability to save money that can be put back toward the classroom, as EVs cut energy costs by 80% and maintenance costs by 60%, according to Zum's data.
Last August, Zum launched the first-ever all-electric school bus fleet in the country with the Oakland Unified School District. Through a partnership with Pacific Gas & Electric, Zum's district-wide fleet utilizes V2G (vehicle to grid) bidirectional charging, which allows buses to return energy to electrical grids.
While the initial cost of an EV school bus is roughly two to three times the cost of their diesel counterparts, the V2G model enables electric fleets to be more cost-effective for schools in the long run. School districts can expect to gain over $100,000 in lifetime fuel and maintenance savings with an electric bus, according to the Electric School Bus Initiative.
Since Zum's launch in 2015, the company has worked with 4,000 schools across 14 states. Narayan's initial vision for Zum reflected that of a fleet of private drivers transporting kids to and from school. Yet, when she went to pitch Zum to schools in the Bay Area, Narayan was met with schools offering to utilize Zum in the form of a privatized school bus fleet. Adjusting her business model to compete against companies like First Student and Student Transportation of America that serve a customer base of more than 25 million U.S. students, Narayan is continuing to chip away at the market opportunity.
While the government has been a tailwind in recent years, it may now be an impediment to growth. Zum secured a conditional commitment for a $700 million loan from the U.S. Department of Energy in early January, a program that has been targeted by the Trump administration, especially loans finalized in the waning days of the Biden administration. It also received $58 million from the Environmental Protection Agency's Clean School Bus Program. The Trump administration's budget cuts in renewable energy and attempts to freeze EV charging funds introduce new hurdles.
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