UQM Technologies Receives Order to Refresh PowerPhase®Components in Denver RTD Hybrid Buses
Fleet of hybrid buses, with UQM components, have traveled more than a million miles since beginning service in 2004
UQM PowerPhase Select® electric generators and motor controllers are an integral part of hybrid system
Over the next two years UQM will refresh 30 of the original generators and motor controllers currently in service
LONGMONT, Colo.--(BUSINESS WIRE)-- UQM Technologies, Inc. (NYSE MKT: UQM) and the Denver Regional Transportation District (RTD) announced today that UQM will begin a refurbishment program on the generators and motor controllers used in the agency's fleet of hybrid buses. The original units being refurbished far exceeded their expected life and this program will allow additional running time for the fleet of buses, which operate seven days a week in downtown Denver.
These 30 hybrid buses have covered more than a million miles in daily service since 2004. The buses use UQM PowerPhase Select® electric generators and controllers as part of the hybrid powertrain.
"This pioneering fleet of hybrid buses was one of the earliest hybrid vehicle programs in the country, and the amount of miles these hybrid systems have traveled over nearly a decade is impressive," said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. "This speaks well for the durability of UQM components in real world usage, and we look forward to providing this service and our expertise to the Denver RTD."
As part of the refresh, each UQM component in the hybrid bus systems will be thoroughly inspected and worn parts replaced, returning the units to near-new condition. Each refurbished unit will then be run through a full set of final testing to ensure that they are ready for many more miles of trouble-free operation. All 30 shuttle buses are expected to be refreshed over the next two years.
UQM is also powering Hino electric city buses, Proterra electric composite transit buses, Electric Vehicles International all-electric medium-duty trucks and Boulder EV delivery vans. UQM has recently expanded its product offerings for full-electric buses and commercial vehicles with the introduction of the PowerPhase HD® 220.
The Regional Transportation District and Service Area
The Denver Regional Transportation District is the regional transportation authority that provides public transportation for 40 cities and towns in all or portions of 8 counties around Denver. RTD is a public agency created in 1969 by the Colorado General Assembly. The service area population of more than 2.8 million persons is located in 2,348 square miles. RTD's operations include fixed bus routes, express buses, light rail, shuttles, ADA paratransit services (called "access-a-Ride"), general public demand responsive services ("call-n-Ride"), "seniorRide," vanpools, free shuttle services on the downtown mall, and other services. For more information, please visit www.rtd-denver.com.
UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, commercial truck, bus, marine and military 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 located in Longmont, Colorado. Please visit www.uqm.com for more information.
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, future orders to be received, future financial results 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-Q filed January 31, 2013, which is available through our website atwww.uqm.comor atwww.sec.gov.
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Annie Leschin/Barry Hutton
UQM Technologies, Inc.
KEYWORDS: United States North America Colorado
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