UQM
Technologies Delivers Motor for Use in Fuel Cell Powered Switch Locomotive
Thursday March 27, 8:30 am ET
FREDERICK, Colo.--(BUSINESS WIRE)--UQM TECHNOLOGIES, INC. (AMEX: UQM), a developer of alternative energy technologies, announced today that it has delivered a PowerPhase® 100 motor to Vehicle Projects LLC for use in a fuel cell powered switch locomotive under development by a consortium including Burlington Northern Santa Fe Railway Company, the U.S. Department of Defense, and led by Vehicle Projects LLC of Denver, Colorado. The UQM® motor provides up to 55 kW of continuous power to drive the twin-screw compressor for the first stage of the two-stage air system of the fuel-cell powerplant. The switch locomotive is currently under development, with field testing scheduled to begin later this year.
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The experimental switch locomotive has the potential to reduce air pollution, is not dependent on oil for fuel, and could serve as a mobile backup power source for military and civilian disaster relief efforts. At 127 tonne (280,000 lb), continuous power of 220-250 kilowatts from its proton exchange membrane fuel cell power plant, and transient power well in excess of one megawatt, the switch locomotive will be the heaviest and most powerful fuel cell land vehicle yet.
“As a nation, we face two significant issues, global climate change and energy insecurity, both of which have a common factor – oil,” said Arnold Miller, President of Vehicle Projects LLC. “The world burns millions of barrels of oil for energy, and the waste carbon is then emitted to the atmosphere. Because fuel cells don’t rely on oil as a fuel source, they solve these two issues. Along with our principal partners, we are developing proof-of-concept hydrogen fuel cell vehicles that are leading the way to this new technology.”
“We are pleased that Vehicle Projects LLC has again selected one of our technologically advanced permanent magnet motors for a cutting-edge vehicle. Our systems excel in demanding applications such as this where power density and efficiency are required to achieve optimal system operating performance,” 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, 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 www.uqm.com.
Vehicle Projects LLC (since 1998) serves heavy industry and transport by developing and demonstrating prototype fuel cell vehicles that improve productivity, worker health and safety, environmental quality, or energy efficiency and security. Its core in-house activities are project conception and fundraising, vehicle engineering design, and consortium organization and management. For more information about Vehicle Projects, please visit www.fuelcellpropulsion.org.
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-Q filed January 30, 2008, which is available through our website at www.uqm.com or at www.sec.gov.
Contact:
UQM Technologies, Inc.
Donald A. French, 303-278-2002
or
BPC Financial Marketing
John Baldiserra, 800-368-1217
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Source: UQM Technologies, Inc.
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