UQM Technologies Receives New Follow-On Order from Proterra to Support Their CY2017 Increased Market Demand and Expansion Plans
January 18 2017 - 8:30AM
Business Wire
- The new order is for UQM PowerPhase® HD
electric drive systems to be delivered throughout 2017 and will
support Proterra’s demand and order backlog that continues to
increase with recently announced major contract wins by
Proterra.
- Proterra® zero-emission buses continue
to display increased performance in efficiency, range and
reliability evidenced by the improving demand for the electric bus
in various cities and municipalities.
- Proterra recently announced major
contract wins along with a significant capital raise to support
their expansion of adding a new plant in California and increased
capacity in their South Carolina plant.
UQM Technologies Inc. (NYSE MKT: UQM) today announced the
receipt of a new follow-on order from Proterra® for PowerPhase® HD
electric drive systems, to be manufactured and shipped throughout
2017. Proterra will continue to increase its production capacity in
2017 as an increasing number of transit agencies see zero-emission
buses as a credible and proven alternative to diesel, CNG, and
hybrid buses. Proterra has fleets active in numerous cities
throughout the US. Proterra’s expansion is continuing to manifest
as new investments and investors are attracted to their leading
edge bus technology utilizing the UQM electric powertrain
system.
“UQM is proud to have a relationship with Proterra that extends
beyond the traditional supplier/customer framework. We have worked
closely over the years with Proterra in optimizing our system and
are now starting to truly see the rewards with Proterra’s
significant increase in demand and expansion opportunities,” said
Joe Mitchell, President and CEO of UQM Technologies Inc.
About UQM
UQM Technologies is a developer and manufacturer of power-dense,
high-efficiency electric motors, generators, power electronic
controllers and fuel cell compressors for the commercial truck,
bus, automotive, marine, military and industrial markets. A major
emphasis for UQM is developing propulsion systems for electric,
hybrid electric, plug-in hybrid electric and fuel cell electric
vehicles. UQM is TS 16949 and ISO 14001 certified and located in
Longmont, Colorado. For more information, please visit
www.uqm.com.
About Proterra
Proterra is a leader in the design and manufacture of
zero-emission vehicles that enable bus fleet operators to
significantly reduce operating costs while delivering clean, quiet
transportation to the community. Proterra has sold more than 252
vehicles to 28 different transit agencies throughout North America.
Proterra’s configurable EV platform, battery and charging options
make its buses well-suited for a wide range of transit and campus
routes. With unmatched durability and energy efficiency based on
rigorous U.S. certification testing, Proterra products are proudly
designed, engineered and manufactured in America, with offices in
Silicon Valley and South Carolina. For more information visit:
http://www.proterra.com/ and follow us on Twitter
@Proterra_Inc.
Media contact: pr@proterra.com.
This Release contains statements that constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act and Section 21E of the Securities Exchange Act.
These statements appear in a number of places in this Release and
include statements regarding our plans, beliefs or current
expectations; including those plans, beliefs and expectations of
our management with respect to, among other things, gaining
required certifications, new product developments, future orders to
be received from our customers, sales of products from inventory,
future financial results, liquidity, and the continued growth of
the electric-powered vehicle industry. Important Risk Factors that
could cause actual results to differ from those contained in the
forward-looking statements are contained in our Form 10-K and Form
10-Q’s, which are available through our website at www.uqm.com or
at www.sec.gov.
Source: UQM Technologies, Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20170118005351/en/
The Blueshirt GroupShawn Severson,
415-489-2198orUQM Technologies, Inc.David
Rosenthal, 303-682-4900
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