UQM Technologies, Inc. (NYSE MKT: UQM) is introducing a new system in its growing line of production-ready, automotive-validated electric propulsion systems for vehicles. The new UQM PowerPhase HD® 950T provides 950 Nm of torque and is designed for heavier commercial trucks and buses that require higher torque. This is an additional offering to the PowerPhase HD 220 that we announced last year, giving customers choices of various levels of torque and horsepower to meet their requirements.
“Adding the PowerPhase HD 950T to our existing product line further expands our range of systems for commercial vehicles, from small delivery vehicles through city buses,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “We have grown commercial vehicle systems as a significant part of our business, in addition to passenger vehicles, to meet the needs of our increasingly diversified customer base.” Continue reading →
UQM Technologies, Inc. (NYSE MKT: UQM) announced today that it has appointed David I. Rosenthal as Treasurer and Chief Financial Officer. Mr. Rosenthal has extensive finance and accounting experience in senior leadership roles across a variety of industries during his 30+ year career.
“We are excited to have such an experienced Chief Financial Officer join our leadership team,” said Eric R. Ridenour, UQM President and Chief Executive Officer. “His extensive background as a CFO for both publicly-traded and private-equity backed companies brings a wealth of financial expertise that should prove invaluable to UQM as we strive to take the company to the next level.” Continue reading →
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. Continue reading →
UQM Technologies, Inc. (NYSE MKT: UQM) and Proterra, Inc. have reached a long-term supply agreement that expands their business together and continues the role of UQM as the exclusive supplier of electric propulsion systems to the maker of battery-electric buses. Under the new agreement, Proterra will purchase the recently released UQM PowerPhase HD® 220 electric propulsion system.
“We have had a great business relationship with Proterra since the company was founded, supplying over $1 million of electric propulsion systems to them for their battery-electric buses,” said Eric R. Ridenour, UQM Technologies President and Chief Executive Officer. “This new three-year agreement will build on that relationship, grow our volume with Proterra and provide an important customer for our newly introduced PowerPhase HD 220 product.” Continue reading →
UQM Technologies, Inc. (NYSE MKT: UQM), 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, today announced that Treasurer and Chief Financial Officer Donald A. French, age 57,plans to retire on July 31, 2013.
“Don has made a number of important contributions to UQM over his long career. We greatly appreciate his contributions towards strengthening our financial position and growing our business.” said Eric R. Ridenour, UQM Technologies President and Chief Executive Officer. “Don will remain an active member of management until his retirement and also will assist in the search for a new Chief Financial Officer to allow an orderly transition of responsibilities. We wish him all the best as he enters this new stage of his life.” Continue reading →
UQM TECHNOLOGIES, INC. (NYSE MKT: UQM), a developer of alternative energy technologies, today announced operating results for the fiscal third quarter ended December 31, 2012. Total revenue was $1.9 million, a decrease of 29% from $2.7 million for the same quarter last year. Net loss for the third quarter was $4.6 million, or $0.12 per common share, including a charge of $3.8 million or $0.10 per common share to establish an allowance for doubtful accounts for CODA receivables. This compares to a net loss of $0.8 million or $0.03 per common share for the same period last year. Net loss for the quarter, excluding the charge related to CODA, improved by 15 percent primarily due to lower production engineering expenditures, increased reimbursements under our DOE Grant and increased product shipments to customers other than CODA.
“Despite the lack of shipments to CODA this quarter and the need to take a charge to earnings, we demonstrated our ability to diversify our customer base by delivering a more than a 50% increase in revenues to customers outside of CODA.” said Eric R. Ridenour, UQM Technologies President and Chief Executive Officer. “During the quarter we continued to aggressively pursue discussions with potential customers globally, including in China, and took several steps to proactively lower our expenses and improve operating efficiencies to ensure that we have the financial and technical resources to pursue and execute the many opportunities that lay ahead with our various customers.” Continue reading →
UQM Technologies, Inc. (NYSE MKT: UQM) electric motors and controllers are at the heart of the new ReGen Nautic E180 all-electric outboard motor introduced this week at the Dusseldorf Boat Show. This is in addition to series-hybrid electric systems that ReGen Nautic has developed for yachts, trawlers, and sailboats over 50 feet using UQM® components.
“Working with ReGen Nautic, we continue to expand the marine applications for our electric propulsion products,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “Our systems are ideally suited for marine applications which require exceptional performance, whether used in all-electric or series-hybrid propulsion systems.” Continue reading →
UQM Technologies, Inc. (NYSE MKT: UQM) President and Chief Executive Officer, Eric R. Ridenour, will present at the 15th Annual Needham Growth Conference at 4:50 p.m. EST on Wednesday, January 16, 2013.
The event will take place from Tuesday, January 15, through Thursday, January 17, 2013, at The New York Palace Hotel in New York City. A copy of the presentation will be available on the company’s website at www.uqm.com on the day of the conference. Needham & Company’s 15th Annual Growth Conference, a by-invitation-only event, gives institutional investors, private equity firms and venture capitalists access to 350 growth companies from a broad range of industries, including Clean Technology, Communications, Consumer, Enterprise Infrastructure, Healthcare, Internet & Digital Media, Semiconductors & Semiconductor Equipment and Software & Services sectors. Continue reading →
EfficientDrivetrains, Inc. (EDI) has selected theUQM Technologies, Inc. (NYSE MKT: UQM) PowerPhase® system as the electric drive in its newly-developed Parallel-Series-Electric powertrain system. Development and initial testing of the platform has been completed, and EDI is currently in contract discussions with multiple truck manufacturers and a bus manufacturer to use the system.
“This platform demonstrates the viability of our PowerPhase systems in hybrid applications as well as in all-electric vehicles,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “The EDI powertrain is a unique approach to electrifying vehicles, and our range of electric motors and controllers adds to the scalability of the system.” Continue reading →
UQM Technologies, Inc. (NYSE MKT: UQM) announced today that it has made a significant breakthrough in the development of non-rare-earth magnet electric motor design as part of the work being done under the Department of Energy (DOE) Advanced Research and Development Grant.
“Leveraging our expertise in electric motor design, we’ve developed an electromagnetic design that produces competitive power-density and efficiency with non-rare-earth magnets,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “This is great progress toward our objective of identifying magnet materials and technology that can deliver the performance our customers expect while limiting our exposure to price and supply concerns associated with rare earth magnets.” Continue reading →