UQM Technologies, Inc. (NYSE MKT: UQM) congratulates Chip Yates on setting two new Guinness World Records for electric-powered airplanes at the Capital Air Show in Sacramento earlier this month. His all-electric plane uses a UQM PowerPhase ® motor and controller for powerful and efficient fuel-free flight.
“Yates has taken electric-powered transportation to new heights with his latest round of records,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “Unlike internal-combustion engines, the power output of our electric motor is not affected by altitude, providing steady and consistent power.”
During the air show, Yates set a new Guinness World Record for speed of climb to altitude in an electric airplane, reaching 500 meters (1,640 feet) in just 62.58 seconds from a complete stop. He also set a world record for speed over a one kilometer (0.62 miles) course averaging two passes, one from each direction. Yates piloted the electric aircraft to 220.9 mph on the first pass and 212.9 mph on the second, resulting in a new world record of 216.9 mph.
“We’re extremely excited by all these world records and their implications for potential commercial and military applications of electric vehicle technology,” said Yates. This makes a total of 16 electric vehicle world records achieved by Yates and his team.UQM Technologies offers a range of production-validated electric motors and controllers in addition to being able to meet the needs of custom, small-volume projects. All UQM systems offer high efficiency with power-dense motors and advanced controllers. About UQM UQM Technologies, Inc. is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, commercial truck, bus, marine 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, 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-Q filed August 1, 2013, which is available through our website at www.uqm.com or at www.sec.gov .