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UQM Technologies and New Eagle Announce Collaboration to Provide Full Electric and Hybrid Drive Systems for Commercial, Automotive and Marine Drivetrains

February 17, 2016
  • UQM and New Eagle will partner in key total electric drive solutions for vehicle manufacturers which will be available for automotive, light- and medium-duty vehicles, as well as fleet marine applications.
  • Collaboration seeks to provide global commercial vehicle manufacturers turn-key solutions for rapid prototype development that will lead to successful production programs.

LONGMONT, Colo.--(BUSINESS WIRE)-- UQM Technologies Inc. (NYSE MKT: UQM) today announced collaboration with New Eagle, a vehicle integrator and supplier of hybrid and electric drive control system technologies and hardware for a variety of vehicle classes and applications. UQM and New Eagle are seeking to satisfy a growing market demand for integrated electric drivetrain solutions for electric vehicles as well as electric marine propulsion solutions. UQM and New Eagle will collaborate on projects utilizing UQM’s PowerPhase Pro® electric propulsion systems, and New Eagle’s unique vehicle supervisory control software template and full system integration experience. This will provide customers a turn-key solution for their EV or HEV applications in a number of key markets.

For on-road vehicles, the combination of New Eagle’s vehicle control software and automated manual transmission with the UQM PowerPhase Pro 135 offers a viable solution for light- and medium-duty commercial passenger and cargo delivery vehicles. For marine applications, the combination of New Eagle’s marine hybrid drive system and the UQM PowerPhase Pro 135 offers a solution to reducing the operating and maintenance costs of commercial marine fleet vessels while reducing emissions and operating noise.

Rich Swortzel, President of New Eagle, stated, “Working with UQM brings a higher ease of integration to the end customer, and UQM has an impressive record of successful performance at a very competitive price point. We believe our electric commercial drivetrain customers will benefit from this combination.”

“UQM has seen a growing need in the marketplace for integrated drivetrain solutions,” said Joe Mitchell, UQM Technologies’ President and CEO. “After working with New Eagle on successful vehicle platforms all over the world, we see this collaboration as a great step towards providing the end customers with a variety of integrated platforms by vehicle class that will lead to more commercial electric vehicles on the road.”

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 New Eagle

Since 2009, New Eagle has been the leader in the application of model-based design into alternative energy embedded systems. New Eagle has grown from providing engineering services to supplying production control solutions in a variety of applications including electric and hybrid vehicles, alternative fuel engine control, electro-hydraulics, autonomous systems, and multiplexed vehicle control. New Eagle is the distributor of MotoHawk and Raptor based control solutions from Woodward and New Eagle, respectively. Its electric drive systems are available for both retrofit and OEM applications, for both on-road and off-road, marine, and rail applications. For additional information, please visit www.neweagle.net.

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.

Source: UQM Technologies, Inc.

Source: UQM Technologies, Inc.

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