| Press Release 08-13 | |
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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 Receives Propulsion System Order from Quantum Technologies for the Diesel Hybrid Electric Alternative Mobility Vehicle Being Developed for the U.S. Army |
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FREDERICK, Colo.--(BUSINESS WIRE) - UQM Technologies, Inc. (AMEX:UQM), a developer of alternative energy technologies, announced today that it has received an order from Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) for propulsion systems to be used on a diesel hybrid electric version of the U.S. Army’s Alternative Mobility Vehicle (AMV) “Aggressor”. The “Aggressor” vehicle is a high performance light-duty off-road hybrid electric vehicle being developed by Quantum for the U.S. Army’s Tank Automotive Research, Development and Engineering Center, National Automotive Center. Quantum will integrate UQM® propulsion motors and electronic controls into its advanced JP-8 compatible, diesel hybrid electric propulsion system to be used in pre-production prototype vehicles, which will be tested and evaluated by selected commands to assess mission suitability, supportability, performance objectives and guidance on final vehicle configuration. “We are pleased to be selected by Quantum for this important military program,” said William G. Rankin, UQM Technologies’ President and CEO. “Diesel electric hybrids represent a growing opportunity for our company and the Aggressor vehicle is an ideal platform to showcase the technology advantages of our products.” 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, plug-in 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. |
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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 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 26, 2007, which is available through our website at www.uqm.com or at www.sec.gov.. | |
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