FREDERICK, COLORADO, DECEMBER 18, 2007 ... UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy technologies, announced today that its newly introduced 150 kW permanent magnet propulsion motor has been selected as part of a collaborative advanced hybrid electric bus development program being performed by the Flint Michigan Mass Transportation Authority (“MTA”), Kettering University, Michigan State University and Transportation Techniques LLC.
 
MTA currently operates five hybrid electric cutaway buses on routes in Flint, Michigan and throughout Genesee County with fuel efficiency improvements of 15 percent to 25 percent over similar diesel powered buses.  The UQM^® systems were purchased as part of the partnership’s advanced hybrid electric technology program which has the objective of incorporating an advanced set of control systems and more efficient components into the hybrid electric bus to provide additional fuel efficiency improvements of 15 percent to 20 percent, or an overall improvement of up to 40 percent over standard diesel-powered vehicles.  The partnership’s goal is to field the first production vehicles utilizing advanced hybrid electric technology in fiscal 2009.

“We are pleased that the MTA partnership has selected our 150 kW propulsion system for their advanced hybrid electric technology program.  Our 150 kW propulsion system, with its exceptional torque and light weight, will improve the acceleration of the bus, while maximizing the range between recharges due to its highly energy efficient operation,” said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc.  “We look forward to additional orders for this bus as this technology is placed in service in 2009.”

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.

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 October 31, 2007, which is available through our website at www.uqm.com or at www.sec.gov.

[Home | Previous | Next | Top ]

Last Update: 12/18/07