Rock Legend Neil Young's Bio-Hydro-Electric Series Hybrid Vehicle Conversion to Be Powered by UQM(R) Propulsion System
January 29 2008 - 8:30AM
Business Wire
UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative
energy technologies, announced today that one of its 150 KW
propulsion systems will be powering a 1959 Lincoln Continental Mark
IV being converted to a bio-hydro-electric series hybrid vehicle by
rock legend Neil Young in collaboration with Jonathan Goodwin�s
H-Line Conversions of Wichita, Kansas. Young, who has renamed his
car �Linc Volt�, is converting the vehicle as part of a personal
initiative he calls �Re-powering the American Dream�, which
represents his vision of drawing on American ingenuity and
entrepreneurial spirit to implement technology solutions that can
make a meaningful impact on energy consumption now. Young�s Mark IV
is 19.5 feet long, making it the longest production car ever made,
and weighs two and one-half tons, the heaviest car of its era.
Goodwin-Young estimate that the converted vehicle will achieve over
100 miles per gallon versus the 10 miles per gallon of the stock
vehicle. Mr. Young is making a movie about the transformation of
his car, which he hopes to release in the fall. �By drawing on
entrepreneurial companies� advanced technology and good old
American ingenuity, we intend to transform one of the largest and
heaviest gas guzzling vehicles of our generation into a highly
energy efficient vehicle, and demonstrate to the American public
that we can re-power the American dream by demanding
environmentally-friendly vehicles now,� said Mr. Young. �Our
country is full of innovative entrepreneurs and advanced technology
companies, like H-Line Conversions and UQM Technologies, who have
the capability and drive to make big things happen.� �We are
pleased to have been selected by Neil and H-Line conversions as the
propulsion system supplier for this high visibility project. The
vehicle will be powered by our most technologically advanced and
powerful propulsion system, the PowerPhase�150, which I am
confident will deliver performance that exceeds their
expectations,� said William G. Rankin, President and CEO of UQM
Technologies, Inc. H-Line Conversions specializes in custom vehicle
conversions that turn gas-guzzling behemoths like Hummers, Cadillac
Escalades, Jeeps and other big American cars into clean-power
machines. Located in Wichita, Kansas, H-Line converted vehicles
have been featured on MTV�s �Pimp my Ride� and upcoming conversions
are being taped for a television series that is set for national
television release. For more information on the Company, please
visit its worldwide website at www.hlineconversion.com. Neil Young
has established himself as one of the most influential
singer/songwriters of his generation. He began his career in the
60�s with the folk-rock band Buffalo Springfield. After leaving the
band in 1968, Mr. Young established a solo career as a songwriter
and singer spanning three decades. In addition to a successful solo
career, Mr. Young also performed with the band Crosby, Stills, Nash
& Young during the 1970�s. 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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