UQM Technologies Receives Department of Energy Contract to Develop a 5 Kilowatt Modular Inverter
July 21 2004 - 9:30AM
PR Newswire (US)
UQM Technologies Receives Department of Energy Contract to Develop
a 5 Kilowatt Modular Inverter FREDERICK, Colo., July 21
/PRNewswire-FirstCall/ -- UQM TECHNOLOGIES, INC. (AMEX:UQM), a
developer of alternative energy technologies, announced today that
it has received a contract from the U.S. Department of Energy to
develop a 5 kW modular inverter under the Small Business Innovation
Research Program. Power electronic inverters are used to convert
direct current (DC) output of power generation equipment such as
reciprocating engine generators, wind turbines, solar panels,
microturbines and fuel cells to 110/220 volt alternating current
(AC). Many household and commercial products run on 110/220 volt AC
currently delivered from the power transmission grid to electrical
outlets in homes and commercial buildings. Numerous commercial and
industrial vehicles, such as ambulances and trouble-trucks
currently have inverters onboard to power accessories and equipment
and several on-road, off-road and military vehicle manufacturers
plan to offer AC power availability onboard certain vehicle models
to power a variety of accessories. "We are pleased that the
Department of Energy has selected us to develop a household size
inverter for the distributed power generation market. Currently
available electronic inverters are difficult to install and use,
lack plug and play capability, are less efficient and bulky and
have operating limitations in those applications where input
voltages change across a broad range," said Ron Burton, UQM
Technologies' Vice President of Operations. "We expect to develop a
high frequency product capable of accommodating voltage inputs of
36 volts to 360 volts which is small, low cost and highly
efficient." 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 and fuel cell electric vehicles, 42-volt
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 http://www.uqm.com/. This press 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
press 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. 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 for the fiscal year ended March 31, 2004 and is available
through our website at uqm.com or at sec.gov. DATASOURCE: UQM
Technologies, Inc. CONTACT: Donald A. French, Treasurer of UQM
Technologies, Inc., +1-303-278-2002 Web site: http://www.uqm.com/
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