About UQMUQM 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 products for the alternative-energy technologies sector, including propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles. UQM headquarters, engineering, product development center and manufacturing operation are 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 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 July 31, 2012, which is available through our website at www.uqm.com or at www.sec.gov .
During the London 2012 Summer Olympics, many athletes and dignitaries are experiencing the efficient power of UQM Technologies, Inc . (NYSE MKT: UQM) electric drive systems in a fleet of specially prepared London taxicabs. UQM PowerPhase Pro ® 100 electric drive systems are powering a fleet of zero-emission, fuel cell London taxicabs during the 2012 Olympic Games held in the British capital. “The demand for alternative propulsion technologies continues to expand globally,” said Eric Ridenour, UQM Technologies’ President and Chief Executive Officer. “We are excited that our PowerPhase Pro 100 electric drive system was selected to power a fleet of iconic London taxicabs during the London 2012 Summer Olympics. The rigorous performance requirements of these taxicabs highlight the durability and performance of UQM’s products in real-world settings.” The London taxicabs have a long tradition of service and are very recognizable. There are currently over 21,000 in operation. A consortium of companies – Intelligent Energy, Lotus Engineering, TRW Conekt and London Taxi International – put forward a proposal to develop hydrogen fuel cell taxicabs and approached the British Government for research support and funding. The UQM PowerPhase Pro 100 electric motor provides power to the rear wheels of the vehicle. A fuel cell system designed by Intelligent Energy works in conjunction with a high voltage battery pack and a UQM DC-to-DC converter to provide power for the vehicle. According to Intelligent Energy, the company plans to put the vehicles into full production after a successful test program in 2012. “We have capacity to quickly increase production should more London taxicabs be converted to zero-emission propulsion systems,” said Ridenour. This fleet joins another previously announced UQM-powered vehicle at the London 2012 Summer Olympics. UQM’s PowerPhase electric propulsion systems have been selected to power CODA Automotive passenger cars, the Audi A-1 e-tron, Rolls-Royce 102EX Electric Phantom and EV Engineering pre-production test fleet vehicles. UQM is also powering Hino electric city buses, Proterra electric composite transit buses, Electric Vehicles International all-electric medium-duty truck and 100 walk-in delivery vans for UPS and Boulder EV delivery vans for Federal Express. UQM’s manufacturing facility has 40,000 units of annual production capacity for its PowerPhase Pro electric propulsion systems.