FREDERICK, Colo., June 5 /PRNewswire-FirstCall/ -- UQM Technologies, Inc. (AMEX:UQM) announced today that it has been awarded an additional $750,000 Phase II Small Business Innovation Research contract from the U.S. Air Force to advance the development of a silicon carbide electronic motor controller. The focus of the two year effort will be to improve the power density and packaging of previous generations of silicon carbide power modules developed in other Air Force programs. Coincident with this project the Company will convert a conventional pickup truck to all-electric operation using a motor controller containing the higher power silicon carbide modules being developed. The operating results of the testbed will then be compared to those of other all-electric pickup truck testbeds operating with earlier generations of the silicon carbide modules.
The controller is being developed for the USAF Advanced Power Technology Office of the 542nd Combat Sustainment Wing at Robins Air Force Base in cooperation with the U.S. Army National Automotive Center and Mississippi State University.
Commenting on the award, Jon Lutz, UQM Technologies' Director of Engineering said, "This project creates another opportunity to showcase our 160 horsepower propulsion system and advance the commercial prospects of silicon carbide power modules by reducing their size and improving power density. Improvements in power density and packaging are important attributes in reducing the production cost of the modules and their potential to achieve commercial success." UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, medical, military and industrial markets. A major emphasis of the Company 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 and distributed power generation applications. The Company's headquarters, engineering and product development center, and motor manufacturing operation are located in Frederick, Colorado. For more information on the Company, please visit its worldwide website at http://www.uqm.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 the development of markets for our products and the adequacy of our cash balances and liquidity to meet future operating needs. 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 filed May 17, 2007, which is available through our website at http://www.uqm.com/ or at http://www.sec.gov/. DATASOURCE: UQM Technologies, Inc.
CONTACT: John Baldiserra of BPC Financial Marketing, +1-800-368-1217, for UQM Technologies, Inc.; or Donald A. French of UQM Technologies, Inc., +1-303-278-2002 Web site: http://www.uqm.com/
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