UQM Technologies Receives New Order from Proterra for 2018 Supporting Increased Market Demand
February 15 2018 - 8:30AM
Business Wire
- The new order is for UQM PowerPhase® HD
electric drive systems to be delivered throughout 2018. This order
supports Proterra’s demand that continues to increase with recently
announced major contract wins by Proterra.
- Proterra was recently awarded the Los
Angeles DOT order for 25 buses, a significant commitment by LA and
part of a bigger plan to deploy an all-electric fleet by 2030.
- Proterra® zero-emission buses continue
to provide increased performance in efficiency, range and
reliability, adding to the rising demand for the Proterra buses
powered by UQM.
- Proterra’s second vehicle manufacturing
facility in City of Industry, California is now operational, and
UQM is shipping to both of Proterra’s manufacturing locations.
UQM Technologies Inc. (NYSE AMERICAN: UQM) today
announced the receipt of a new order from Proterra for UQM’s
PowerPhase® HD electric drive systems, to be manufactured and
shipped in 2018. Proterra continues to build upon its leading-edge
bus technology, utilizing the UQM electric powertrain system for
orders in 2018. An increase in demand for Proterra vehicles signals
the clear economic viability of the all-electric transit bus and is
a sign of the rapidly expanding market for electric buses in North
America.
“UQM E-drive systems have millions of miles on the road with
Proterra, and over the years our companies have worked closely
together to create some of the most advanced heavy-duty electric
bus technology available in the marketplace. We are pleased to
continue to support Proterra’s success with the UQM E-drive for its
heavy-duty transit bus applications,” 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 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 heavy-duty vehicles, enabling bus fleet operators to
significantly reduce operating costs while delivering clean, quiet
transportation to local communities across North America. With more
than 500 vehicles sold to 65 different municipal, university,
airport, federal and commercial transit agencies in 30 states,
Proterra is committed to providing state of the art, high
performance vehicles to meet today’s growing market demand. The
company’s configurable Catalyst® platform is capable of serving the
full daily mileage needs of nearly every transit route on a single
charge. 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, South Carolina, and Los Angeles. For more
information, visit: http://www.proterra.com and follow on Twitter
@Proterra_Inc.
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-Qs, 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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