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UQM Signs Multi-Year Memorandum of Understanding with RAPAC, a Diversified Communication, Infrastructure, Transportation and Defense Company in Israel

September 02, 2015
  • This MOU with RAPAC builds on UQM experience in the military industry and will expand the offerings and applications to the Israel market.
  • RAPAC Communication & Infrastructure Ltd. was established in 1964, has significant military experience and is looking to broaden market reach and use UQM power generation products for a variety of vehicle applications for their clients.

LONGMONT, Colo.--()--UQM Technologies Inc. (NYSE MKT: UQM) today announced the signing of a multi-year Memorandum of Understanding with RAPAC Communication and Infrastructure, Ltd. RAPAC is a diversified communication, infrastructure, energy, transportation and defense company based in Israel and is traded on the Tel Aviv Stock Exchange (TASE: RPAC).

RAPAC will represent UQM in Israel and will provide various UQM PowerPhase electric motors, generators and controllers to their clients for all-electric and hybrid electric military vehicles, armored vehicles, as well as other non-defense related medium-to-heavy duty bus and truck applications for the growing Israel market.

“UQM Technologies has a long history of experience working on defense projects that have included electrified Humvees, stationary power generation and unmanned ground vehicles. We are pleased to be represented by RAPAC in Israel who understands the nature of this market as we continue to execute on our product application and diversification strategy,” said UQM Chief Operating Officer and Interim President and CEO Joe Mitchell.

RAPAC CEO Ron Oren commented on the new strategic partnership with UQM, “The RAPAC vehicle applications are designed for the most demanding environments and after searching high and low, we chose UQM because of their reputation and experience. UQM delivers the highest quality and the most technologically advanced electric drive motors and controllers in the industry.”

About UQM

UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators, power electronic controllers and fuel cell compressors 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 and ISO 14001 certified and located in Longmont, Colorado. For more information, please visit www.uqm.com.

About RAPAC

RAPAC Communication & Infrastructure Ltd. was established in 1964 and is traded on the Tel Aviv Stock Exchange (TASE: RPAC). The company holds several subsidiaries that are active in the Infrastructure, Communication, Defense, Transportation and Computing fields. The RAPAC subsidiary Delta Systems, acts as consultant to large and well known defense industry companies.

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, gaining required certifications, 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-Q’s, which are available through our website at www.uqm.com or at www.sec.gov.

Contacts

The Blueshirt Group
Shawn Severson, 415-489-2198
or
UQM Technologies, Inc.
David 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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UQM Technologies Inc
4120 Specialty Pl.
Longmont, Colorado 80504