UQM Technologies, Inc . (NYSE Amex: UQM) has received an order for 100 additional PowerPhase ® HD Select 200 systems from Electric Vehicles International (EVI) that will drive all-electric UPS delivery vans built by EVI. This purchase is in addition to systems previously delivered and integrated into EVI medium-duty trucks and walk-in vans.
“We’re very pleased that UPS has selected the all-electric EVI delivery van for the expansion of its all-electric delivery van fleet program,” said Eric Ridenour, UQM Technologies President and Chief Executive Officer. “The expansion of our business with EVI into UPS vehicles represents a significant deployment of our higher power propulsion systems in the medium-duty commercial truck market and will drive revenue growth in this important segment.”
According to UPS, it will deploy these 100 all-electric vehicles in California early in 2012, replacing older generation diesel trucks in the largest single deployment of zero tailpipe emission delivery vehicles in the state. UPS estimates that the use of these vehicles will displace 126,000 gallons of fuel a year that would have been burned running diesel trucks.
“We are building PowerPhase HD Select 200 systems for these vehicles now and will deliver our first shipment to EVI this quarter,” said Ridenour.The UQM PowerPhase HD Select 200 system includes a 200 kW (268 horsepower)/900 N-m (664 ft-lbs) electric motor/generator and controller. The PowerPhase HD series is designed specifically for use in commercial vehicles. UQM electric propulsion systems are used in a variety of segments from motorcycles, cars trucks and buses, and most recently in marine applications. About UQM Technologies, Inc. UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, military and industrial markets. A major emphasis for UQM 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. UQM headquarters, engineering, product development center and manufacturing operation are located in Longmont, Colorado. For more information, please visit www.uqm.com. About EVI EVI is a pioneer in alternative energy vehicle development, manufacturing and deployment, with over 20 years of success optimizing alternative energy powertrains. EVI vehicles are manufactured with the most efficient powertrains and the safest, longest-lasting batteries, seamlessly integrated into tough American-built chassis relied upon by fleet operators throughout the nation and the world. For more information, please visit www.evi-usa.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, orders to be received under our supply agreement with Electric Vehicles International, our ability to successfully expand our manufacturing facilities, 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-Q filed October 27, 2011, which is available through our website at www.uqm.com or at www.sec.gov .
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