UQM Technologies Receives Contract From Stewart & Stevenson for Starter/Motor/Generator to Be Used on a Concept Medium Wheeled T
September 30 2004 - 9:30AM
PR Newswire (US)
UQM Technologies Receives Contract From Stewart & Stevenson for
Starter/Motor/Generator to Be Used on a Concept Medium Wheeled
Tactical Vehicle UQM(R) Starter/Motor/Generator Will Supply
Electrical Power for the Active Suspension System, Start the Engine
and Provide Propulsion Power Assist for a Concept Family of Medium
Tactical Vehicle Truck Under Development by Stewart & Stevenson
FREDERICK, Colo., Sept. 30 /PRNewswire-FirstCall/ -- UQM
TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy
technologies, announced today that it has received a contract from
Stewart & Stevenson Services, Inc. (NYSE:SVC) for a UQM(R)
starter/motor/generator that will supply electrical power for an
active suspension system, start the engine and provide propulsion
power assist for a concept Family of Medium Tactical Vehicle truck.
The Family of Medium Tactical Vehicle (FMTV) trucks and companion
trailers come in 2.5-ton and 5-ton payload capabilities and are the
"platforms of choice" for combat arms and other support
applications, including the Army's new High Mobility Artillery
Rocket System (HIMARS), the Height Reducible Electronic Enclosure
(HREE) and a new class of Load Handling System (LHS). The FMTV is
the largest payload capacity U.S. Army truck transportable via
C-130 aircraft with full payload. Since 1991, Stewart &
Stevenson has produced more than 25,000 FMTV trucks and trailers
serving America's soldiers on military bases around the globe. "We
are pleased to have the opportunity to supply an additional UQM(R)
system to Stewart & Stevenson for use in a second development
program for the FMTV truck. In February, we announced that UQM(R)
propulsion systems and generators had been selected to power a
hybrid electric FMTV Tactical Wheeled Vehicle being developed for
Stewart & Stevenson Services, Inc. by DRS Technologies, Inc. We
believe our proprietary permanent magnet motor and generator
technology is well-suited for both electrically intensive hybrid
systems such as the program announced last February, and less
electrically intensive power assist systems such as the application
we are announcing today, and will deliver the performance that our
customer expects," said William G. Rankin, President of UQM
Technologies, Inc. Stewart & Stevenson, headquartered in
Houston, Texas, is a billion-dollar company that manufactures a
wide range of equipment that uses diesel engines as their prime
mover. Continuing research and development efforts support Stewart
& Stevenson's business philosophy of supplying its customers
with the most reliable products possible. The more than 4,200
people employed worldwide by the company today carry with them a
tradition of service, innovation, fair dealing and integrity, which
began back in 1902. For more information on the company, please
visit its worldwide website at http://www.ssss.com/. 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-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.ssss.com/
Web site: http://www.uqm.com/
Copyright
UQM Technologies (AMEX:UQM)
Historical Stock Chart
From Jun 2024 to Jul 2024
UQM Technologies (AMEX:UQM)
Historical Stock Chart
From Jul 2023 to Jul 2024