UQM Technologies Receives $2.2 Million Fuel Cell Compressor System Order for China Market
April 26 2017 - 08:30AM
Business Wire
- The order was placed by a major Chinese
OEM for the rapidly growing automotive fuel cell market in
China.
- Shipments are scheduled to begin in the
summer of 2017 and through fall 2017.
- The UQM Fuel Cell Compressor Modules
are an integral component in the fuel cell technology for
automotive, and light, medium and heavy-duty vehicle applications.
In particular, the systems will be deployed in minivan applications
in this initial offering.
- UQM has seen a noteworthy increase in
fuel cell market interest in Asia, Europe and the USA.
UQM Technologies, Inc. (NYSE MKT: UQM) today announced a
significant purchase order from a major Chinese OEM for delivery of
its R340 fuel cell compressor systems. The purchase order is valued
at $2.2 million. Shipments are expected to begin in the summer of
2017 and be completed by fall of 2017. These compressor modules are
a key component in hydrogen powered fuel cell systems. UQM has seen
much success with its unique R340 fuel cell compressor system,
which is designed for light-duty automotive applications for up to
75kW fuel cell stacks.
“We have been working with our customer for over a year on this
program and are very pleased to receive this significant order from
them,” said Joe Mitchell, President and CEO of UQM Technologies.
“These systems, which include the motor, controller, compressor,
and associated software, are ideal for ease of maintenance, long
term durability, and low lifetime operational cost.”
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.
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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EnergyTech Investors, LLCShawn Severson,
415-233-7094orUQM Technologies, Inc.David
Rosenthal, 303-682-4900
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