UQM Technologies Receives European Patent Covering Phase Timing Advancement of Permanent Magnet Electric Motors
August 03 2004 - 9:30AM
PR Newswire (US)
UQM Technologies Receives European Patent Covering Phase Timing
Advancement of Permanent Magnet Electric Motors European Patent
Expands Protection of U.S. Patent Granted in 1998 on Critical
Technology for Vehicle Propulsion Applications FREDERICK, Colo.,
Aug. 3 /PRNewswire-FirstCall/ -- UQM TECHNOLOGIES, INC. (AMEX:UQM),
a developer of alternative energy technologies, announced today
that it has been granted a European patent on its proprietary
method of phase timing advancement for permanent magnet electric
motors. A U.S. Patent on this proprietary method of achieving both
high torque and high speed from a permanent magnet motor was issued
in 1998. This technology is particularly valuable in vehicle
propulsion applications where it enables the propulsion motor to
deliver quick acceleration at low speed and deliver constant power
at increasing speeds enabling a vehicle to go from zero to highway
speeds without the use of a transmission. "This critical invention,
which was patented in the United States in 1998, was a major
breakthrough for our Company at the time and continues to be
critically important to the performance of our vehicle propulsion
systems. We are extremely pleased to have expanded the protection
of this proprietary technology to numerous industrial countries in
Europe. In addition to the expanded patent protection granted on
this technology, we expect to further extend the protection of our
technology portfolio by filing an additional patent application on
our new method of motor control, which nearly doubles the constant
power output of our propulsion systems and also improves peak
power, torque, and system efficiency," said William G. Rankin, UQM
Technologies' President and Chief Executive Officer. 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 and the adequacy of the Company's 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 for the quarter ended June 30, 2004 and is available
through our website at http://www.uqm.com/ or at
http://www.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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