Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Unique Mobility, Inc. (UQM) -- Ignore unavailable to you. Want to Upgrade?

To: Saulamanca who wrote (87)	11/14/2005 10:00:01 AM
From: Saulamanca	Read Replies (2) \| Respond to of 107

UQM Technologies Announces Production Order for 10,000 Vehicle Auxiliary Motors Monday November 14, 8:30 am ET FREDERICK, Colo., Nov. 14 /PRNewswire-FirstCall/ -- UQM TECHNOLOGIES, INC. (Amex: UQM - News), a developer of alternative energy technologies, announced today that it has received a production order for 10,000 vehicle auxiliary motors with initial deliveries beginning in February, 2006. Following delivery of the initial production units, subsequent orders are expected to increase production volumes to an annual revenue value of several million dollars per year. The product will be manufactured by the Company's wholly-owned subsidiary, UQM Power Products, Inc. "This order is the first of what we believe will be many from existing markets as we continue to execute our strategy of pursuing conventional motor applications in parallel with the development of technologically advanced products for the emerging market for hybrid electric vehicles. This product will be produced on a high volume production line in accordance with the Advanced Product Quality Planning ("APQP") automotive standard which will, in-turn, establish us as a volume automotive manufacturer in the eyes of our roster of blue chip customers who are developing applications of our technology for their potential future hybrid electric product offerings. We are very optimistic about the prospects for penetrating additional conventional markets under the leadership of our recently announced National Product Sales Manager," said Vice President of Operations, Ronald Burton. "Our production engineering group has done an exceptional job of designing a low cost motor product for this demanding application. In addition to our expectation that production of this product will rise as we become this customer's primary supplier, we also believe that production can expand to include additional motors currently purchased by the customer for a variety of other product applications. We expect this order, together with other potential production orders being pursued in both existing and emerging markets, to drive an expansion of our revenue beginning in the fourth quarter of this fiscal year," said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc. 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 and fuel cell electric vehicles, 42-volt 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 www.uqm.com. This press 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 press 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. 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 27, 2005, which is available through our website at www.uqm.com or at www.sec.gov.