The first Pontiphian factory officially opened at a ribbon-cutting ceremony in Syosset Tuesday.

The state awarded the Pontiphian company a $250,000 grant to develop a prototype of a floating bus, which inventor Tony Caserta hopes will one day replace all of Long Island?s 7,000 school buses. Caserta?s trucks and buses have retractable pontoons that can turn into boats, which could evacuate residents during an emergency or terrorist attack. Caserta says the full fleet of 7,000 Pontiphians could carry 2.7 million people to Connecticut in 22 hours.

Pontiphian engineers showed off a two-seat aqua car Tuesday. Officials expect the first full-sized model to be complete within a year. The expected cost of a Pontiphian is $300,000, or 20 percent more than a normal school bus.