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UQM Technologies Signs Strategic Long-Term Agreement to Supply Electric Power Systems to the Energy Management Market

November 05, 2014
  • Initial purchase order for 35 pilot units received
  • 500 unit production order after completion of certification
  • Adds additional high-volume market segment

LONGMONT, Colo.--()--UQM Technologies Inc. (NYSE MKT: UQM) has signed a long-term supply agreement to provide electric power systems for industrial and commercial applications to a pioneering energy management company. UQM PowerPhase® electric motors and controllers will be incorporated with this partner’s proprietary technology to create new solutions to address the needs of its global customer base in a wide range of large industrial and commercial facilities. Pilot shipments are expected to begin in early 2015, followed by another purchase order for 500 units once certification is complete and follow-on customer orders are received. These production units are expected to start shipping in late calendar year 2015.

“We see this announcement as a significant milestone for UQM. The addition of this new high-volume market segment with different end customers expands our targeted market and complements our current core vehicle market,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “The proven high-efficiency, high-power output and robust design of our systems makes them ideally suited to energy management solutions such as this. We are excited to have been selected by this customer and to enter this new segment.”

About UQM

UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the commercial truck, bus, automotive, marine, military and industrial markets. A major emphasis for UQM is developing propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles. UQM is TS 16949 certified and located in Longmont, Colorado.

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 management with respect to, among other things, new product developments, future orders to be received from our customers, sales of products from inventory, future financial results, liquidity and the continued growth of the electric-powered vehicle industry. Important Risk Factors that could cause actual results to differ from those contained in the forward-looking statements are contained in our Form 10-K and Form 10-Qs, which are available through our website at www.uqm.com or at www.sec.gov.

Contacts

StreetSmart Investor Relations
Annie Leschin, 415-775-1788
or
UQM Technologies, Inc.
David I. Rosenthal, 303-682-4900

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investor@uqm.com

303.682.4900

UQM Technologies Inc
4120 Specialty Pl.
Longmont, Colorado 80504

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sales@uqm.com

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UQM Technologies Inc
4120 Specialty Pl.
Longmont, Colorado 80504