UQM Technologies' Newly Introduced 150 kW Propulsion System Selected for Advanced Hybrid Bus Development Project by Flint, Michi
December 18 2007 - 8:30AM
Business Wire
UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative
energy technologies, announced today that its newly introduced 150
kW permanent magnet propulsion motor has been selected as part of a
collaborative advanced hybrid electric bus development program
being performed by the Flint, Michigan, Mass Transportation
Authority (�MTA�), Kettering University, Michigan State University
and Transportation Techniques LLC. MTA currently operates five
hybrid electric cutaway buses on routes in Flint, Michigan, and
throughout Genesee County with fuel efficiency improvements of 15
percent to 25 percent over similar diesel powered buses. The UQM�
systems were purchased as part of the partnership�s advanced hybrid
electric technology program which has the objective of
incorporating an advanced set of control systems and more efficient
components into the hybrid electric bus to provide additional fuel
efficiency improvements of 15 percent to 20 percent, or an overall
improvement of up to 40 percent over standard diesel-powered
vehicles. The partnership�s goal is to field the first production
vehicles utilizing advanced hybrid electric technology in fiscal
2009. �We are pleased that the MTA partnership has selected our 150
kW propulsion system for their advanced hybrid electric technology
program. Our 150 kW propulsion system, with its exceptional torque
and light weight, will improve the acceleration of the bus, while
maximizing the range between recharges due to its highly energy
efficient operation,� said William G. Rankin, President and Chief
Executive Officer of UQM Technologies, Inc. �We look forward to
additional orders for this bus as this technology is placed in
service in 2009.� UQM Technologies, Inc. is a developer and
manufacturer of power dense, high efficiency electric motors,
generators and power electronic controllers for the automotive,
aerospace, medical, military and industrial markets. A major
emphasis of the Company is developing products for the alternative
energy technologies sector including propulsion systems for
electric, hybrid electric, plug-in hybrid electric and fuel cell
electric vehicles, under-the-hood power accessories and other
vehicle auxiliaries and distributed power generation applications.
The Company's headquarters, engineering and product development
center, and motor manufacturing operation are located in Frederick,
Colorado. For more information on the Company, please visit its
worldwide website at 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 officers and directors with respect to, among
other things the development of markets for our products and the
adequacy of our cash balances and liquidity to meet future
operating needs. Important Risk Factors that could cause actual
results to differ from those contained in the forward-looking
statements are contained in our Form 10-Q filed October 31, 2007,
which is available through our website at www.uqm.com or at
www.sec.gov.
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