UQM Technologies, Inc. (NYSE Amex: UQM) expands into the marine hybrid electric market through collaboration with ReGen Nautic USA, Inc. to develop multiple hybrid electric marine propulsion systems. ReGen Nautic is working with several marine original equipment manufacturers to provide these propulsion systems as energy-saving powertrain options for yachts, trawlers and larger sailing boats.
“Our collaboration with ReGen Nautic showcases the additional growth opportunities when electric propulsion technology is introduced into industries beyond the automotive sector,” said Eric Ridenour, UQM Technologies President and Chief Executive Officer. “We believe that combining the application knowledge of ReGen Nautic and the electric motor and controller expertise of our company, we can create systems that greatly improve efficiency, increase performance and offer additional benefits that apply to marine applications.” Continue reading
The U.S. Department of Energy (DOE) has awarded $3 million to UQM Technologies, Inc. (NYSE Amex: UQM) for the development of non-rare-earth magnet electric motors for use in electric and hybrid electric vehicles. UQM will cost-share 25 percent of the $4 million effort under the development program.
“We are pleased that the DOE has again selected our company to assist in advancing the state-of-the-art in motor and generator technology for electric and hybrid electric vehicles,” said Eric Ridenour, UQM Technologies’ President and Chief Executive Officer. “This DOE grant will help us apply our extensive experience with the design and engineering of electric motors to the exploration of non-rare-earth magnet motor technology. Our objective is to identify and evaluate magnet materials and technology that can deliver the performance our customers expect, broaden our product portfolio, potentially lower magnet cost and limit our exposure to price and supply concerns associated with rare earth magnets.” Continue reading