LONGMONT, Colo.--(BUSINESS WIRE)--
UQM Technologies Inc. (NYSE MKT: UQM) today announced the receipt of a new follow-on order from Proterra® for PowerPhase® HD electric drive systems, to be manufactured and shipped throughout 2017. Proterra will continue to increase its production capacity in 2017 as an increasing number of transit agencies see zero-emission buses as a credible and proven alternative to diesel, CNG, and hybrid buses. Proterra has fleets active in numerous cities throughout the US. Proterra’s expansion is continuing to manifest as new investments and investors are attracted to their leading edge bus technology utilizing the UQM electric powertrain system.
“UQM is proud to have a relationship with Proterra that extends beyond the traditional supplier/customer framework. We have worked closely over the years with Proterra in optimizing our system and are now starting to truly see the rewards with Proterra’s significant increase in demand and expansion opportunities,” said Joe Mitchell, President and CEO of UQM Technologies Inc.
About UQM
UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators, power electronic controllers and fuel cell compressors 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.
About Proterra
Proterra is a leader in the design and manufacture of zero-emission vehicles that enable bus fleet operators to significantly reduce operating costs while delivering clean, quiet transportation to the community. Proterra has sold more than 252 vehicles to 28 different transit agencies throughout North America. Proterra’s configurable EV platform, battery and charging options make its buses well-suited for 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 Silicon Valley and South Carolina. For more information visit: http://www.proterra.com/ and follow us on Twitter @Proterra_Inc.
Media contact: [email protected].
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.com or at www.sec.gov.
Source: UQM Technologies, Inc.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170118005351/en/
