Press Release 07-09
   
UQM Technologies, Inc.
 7501 Miller Drive
Frederick, CO 80530
Contact:
John Baldiserra
BPC Financial Marketing
(800) 368-1217
    or
Donald A. French, Treasurer
(303) 278-2002
  
UQM Technologies Announces Order From Chitron, Inc.  For Propulsion System to Power Hybrid Electric Urban Bus in China
 
 

FREDERICK, COLORADO, AUGUST 24, 2006 ... UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy technologies, announced today that its permanent magnet propulsion motors and generator will power a hybrid electric bus being developed for service in China.

“We are pleased that Chitron, Inc. has selected UQM® propulsion systems for this advanced vehicle development program.  The Chinese market is expanding at a rapid rate and the potential commercialization of this hybrid electric bus in that market represents a significant opportunity for our Company,” said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc.

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, 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 July 27, 2006 which is available through our website at www.uqm.com or at www.sec.gov.
 

[Home | Previous | Next | Top ]

Last Update: 09/24 /06