UQM Technologies Receives New Orders for Proterra’s Catalyst Bus Program for Calendar Year 2016 Delivery
By Business Wire News
By Business Wire News
UQM Technologies, Inc. (NYSE MKT:UQM) today announced the receipt of a new purchase order from Proterra for the UQM PowerPhase® 220 HD(+) motor and controller systems with deliveries starting in early January 2016. These units will be used in the Proterra Catalyst Bus program for fulfillment of current orders for this new state-of-the-art UQM powered bus. The Proterra Catalyst conquered a 15.5% grade, unprecedented in this test by an electric bus, making it an ideal zero emission option to serve metropolitan areas with challenging topography in West Coast cities including San Francisco and Seattle. In addition to new records, Proterra recently announced the completion of over 1,000,000 customer driven miles for the exclusively UQM powered bus fleet.
Ryan Popple, CEO of Proterra said, “We are pleased with the new HD(+) systems for our Catalyst buses. The improved performance is essential, as we aim to deliver state-of-the-art electric buses and continuously improve the Catalyst platform to break new records in efficiency and performance.”
Proterra recently won a $3 million California Energy Commission Grant to expand advanced manufacturing of zero-emissions transit buses on the West Coast. “We look forward to our continued partnership with UQM, as we both strive to push the limits of electric propulsion in the coming years,” said Chief Executive Ryan Popple.
“UQM has again raised the bar for the electric propulsion industry by producing the most technologically advanced and innovative electric drive motors and controllers in the industry. Our HD(+) series products are expected to set new performance records throughout the transportation industry, exceeding the benchmarks already set by UQM,” said UQM COO and Interim CEO Joseph Mitchell.
UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the commercial truck, bus, automotive, marine, military and industrial 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 TS 16949 and ISO 14001 certified and located in Longmont, Colorado. For more information please visit www.uqm.com.
Proterra is a leader in the design and manufacture of zero-emission vehicles that enable bus fleet operators to significantly reduce operating cost while delivering clean, quiet transportation to the community. Proterra has sold over 100 vehicles to 14 different transit agencies throughout North America. Proterra’s configurable EV platform, battery and charging options make its buses well-suited to a wide range of transit and campus routes. With unmatched durability and energy efficiency based on rigorous U.S. certification testing, Proterra products are proudly designed, engineered and manufactured in America, with offices in South Carolina and Silicon Valley. For more information visit www.proterra.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 management with respect to, among other things, gaining required certifications, 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-K and Form 10-Q’s, which are available through our website at www.uqm.comor at www.sec.gov.
The Blueshirt Group
Shawn Severson, 415-489-2198
UQM Technologies, Inc.
David I. Rosenthal, 303-682-4900