UQM Technologies, Inc. (NYSE MKT: UQM) announces that its PowerPhase ® electric propulsion system powered the Ecotricity Nemesis all-electric vehicle to a new UK land speed record of 151 m.p.h.
“The Nemesis’ land speed record is further indication that UQM PowerPhase systems produce exceptional power, torque and speed,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “Electric vehicles powered by UQM products continue to push the boundaries of expectations and performance.”
Culminating nearly two years of work by the team of motorsport engineers, the Nemesis is the result of the vision of Ecotricity founder and M.D., Dale Vince, to deliver an all-electric vehicle that the team hopes will smash the stereotype of electric cars.
According to Ecotricity, the Nemesis can accelerate 0-100 m.p.h. in 8.5 seconds, and under road legal conditions, has a range of up to 150 miles. The UQM PowerPhase electric motor and controller are powered by green electricity produced by Ecotricity windmills, for delivery over the grid.“The land speed record success has really captured the imagination of the public, which is quickly coming to appreciate the astonishing technological advances that are taking place in electric vehicles,” said Jim Router, Chief Engineer of the Nemesis. “The UQM PowerPhase system we installed in the Nemesis has been absolutely fantastic." About Ecotricity Ecotricity is the world’s first Green Electricity company. Its mission is to change the way electricity is made and used in Britain. Ecotricity now powers almost 70,000 homes and businesses from the wind and sun, while developing technology that harnesses wave-power and green-gas. Visit www.ecotricity.co.uk for more information. About UQM UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, commercial truck, bus and military 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 located in Longmont, Colorado. Please visit www.uqm.com for more information. 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, future orders to be received, future shipments and payments under our Supply Agreement with CODA, future financial results 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 25, 2012, which is available through our website at www.uqm.com or at www.sec.gov .
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV