UQM TECHNOLOGIES, Inc. (NYSE MKT: UQM), a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers, today announced operating results for the quarter and fiscal year ended March 31, 2013.
Revenue for the fiscal fourth quarter of 2013 decreased to $1.7 million compared to $3.8 million in the fourth quarter of 2012, reflecting the lack of shipments to CODA. Excluding CODA revenue, adjusted total revenue for the fourth quarter was $1.6 million compared to $1.8 million for the comparable quarter last fiscal year. Net loss for the fourth quarter was $2.3 million or $0.06 per common share versus a net loss of $1.5 million, or $0.04 per common share for the fourth quarter of fiscal 2012. Fourth quarter results this year included a charge of $1.1 million or $0.03 per common share for estimated CODA-related contract settlement costs. Continue reading →
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) 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), 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) 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 →
UQM Technologies, Inc. (NYSE MKT: UQM) announces that its PowerPhase® electric propulsion system powered the Ecotricity Nemesis all-electric vehicle to a new UK land speed record of 151 m.p.h.
“The Nemesis’ land speed record is further indication that UQM PowerPhase systems produce exceptional power, torque and speed,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “Electric vehicles powered by UQM products continue to push the boundaries of expectations and performance.” Continue reading →
UQM TECHNOLOGIES, INC. (NYSE MKT: UQM), a developer of alternative energy technologies, will hold a conference call with members of the investment community on Thursday, October 25, 2012, at 4:30 p.m. Eastern Time. To participate in the call dial 1-888-561-1799 approximately 10 minutes before the conference is scheduled to begin and provide conference ID code “4570874” to access the call. International callers should dial 1-480-629-9678.
Eric R. Ridenour, UQM Technologies’ President and Chief Executive Officer and Donald A. French, Treasurer and Chief Financial Officer, will be reviewing the Company’s operating results for the quarter and six months ended September 30, 2012. Continue reading →
UQM Technologies, Inc. (NYSE MKT: UQM) announced today that its PowerPhase Pro® 100 electric propulsion system is powering the new all-electric Mylne Bolt 18 yacht tender, which debuted in September at the 2012 Monaco Yacht Show.
“The emerging electric and hybrid marine vessel market is a good fit for our power-dense electric propulsion systems which offer high power and efficiency in a small package,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “We will continue to expand into new market segments and regions as we grow the company.” Continue reading →
UQM Technologies, Inc. (NYSE MKT: UQM), has signed a memorandum of understanding with a major Chinese company for the development and marketing of UQM electric propulsion systems for New Energy Vehicles in China. This agreement expands the global reach of UQM to four continents, and represents the initial step in our strategy to penetrate the Chinese market with our leading electric propulsion products. With a global reputation for performance and quality, UQM provides its customers with both custom electric propulsion solutions and automotive-qualified volume production capabilities.
Under the agreement, UQM and its China-based partner will work collaboratively to introduce UQM products into the Chinese market for use in New Energy Vehicles. The China State Council published its New Energy Vehicles plan in July, 2012, setting a goal of 500,000 energy-efficient and clean vehicles on the road in China by 2015, and five million vehicles by 2020. Continue reading →
UQM Technologies, Inc. (NYSE MKT: UQM) will display its newest product for vehicle electrification September 18-19, 2012, at the Hybrid, Electric and Advanced Truck Users Forum (HTUF) national conference and expo in Charlotte, NC. The PowerPhase HD® 220 is the most powerful electric motor that UQM has ever manufactured, and comes in a system with an all-new controller designed specifically for the commercial vehicle market. The PowerPhase Pro® electric propulsion system that is in volume production will also be part of the UQM display in booth number 401.
“We are excited to be part of the rapidly expanding commercial-vehicle electrification market and are currently powering Hino and Proterra electric buses, as well as Electric Vehicles International all-electric medium-duty trucks and walk-in delivery vans and Boulder EV delivery vans,” said Eric Ridenour, UQM Technologies President and Chief Executive Officer. “And we are likewise excited to show our all-new PowerPhase HD 220, designed specifically to meet the needs of commercial vehicle customers, at the HTUF event.” Continue reading →