| Press Release 07-01 | |
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Contact:
John Baldiserra BPC Financial Marketing (800) 368-1217 or Donald A. French, Treasurer (303) 278-2002 |
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| UQM Technologies Announces Successful Production Launch and Receipt of Follow-On Production Order | |
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FREDERICK, COLORADO, APRIL 18, 2006 ... UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy technologies, announced today that it has launched volume production of vehicle auxiliary motors under a production order announced in November 2005 and has received a follow-on order for an additional 10,000 units. Product shipments for the first fiscal quarter ending June 30, 2006 are expected to total approximately $300,000 and rise to approximately $500,000 for the second fiscal quarter. Production volumes for the third fiscal quarter and beyond are expected to continue to rise, achieving an annual revenue value of several million dollars. “The production of these vehicle auxiliary motors will result in a significant increase in our product sales revenue, improved gross profit margins on product sales and decreasing operating losses for this fiscal year. We expect to receive additional orders for other products from this customer as well as orders from new customers in other conventional product markets currently being pursued, that can further accelerate the growth of our product revenue,” said William G. Rankin, UQM Technologies, Inc. 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 www.uqm.com. |
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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;
the adequacy of our cash balances and liquidity to meet future
operating needs, and our ability to issue equity or debt securities;
and the effect of legal actions and claims that we are involved
in. 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 January 26, 2006 which is available through
our website at www.uqm.com or at www.sec.gov.
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