Press Release 07-11
   
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 $3 Million Follow-On Production
 Order for Vehicle Electric Auxiliary Motors
 
 

FREDERICK, COLORADO, OCTOBER 3, 2006 ... UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy technologies, announced today that it has received a $3 million follow-on production order for additional vehicle electric auxiliary motors. The new order is in addition to previously announced orders for 30,000 motors.  Production volumes under the new order are expected to increase substantially versus current production volumes with product assembly occurring on the Company’s high volume, semi-automated, assembly cell that began operation in July.

"This follow-on order represents a substantial increase in our production for this customer and demonstrates our ability to not only meet our customer’s motor performance specifications and volume production requirements, but also his cost target. We are also manufacturing this product to automotive grade manufacturing standards in accordance with the Advanced Product Quality Planning (“APQP”) automotive procedures. As a result, we are better positioned to leverage this newly established manufacturing capability and our advantaged technology to win and launch production opportunities in emerging vehicle electrification markets,” 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:10/ 03/06