|By Business Wire||
|May 1, 2014 08:33 AM EDT||
UQM Technologies Inc. (NYSE MKT: UQM) congratulates Proterra for setting a record for the most miles traveled in a day by a battery-electric transit bus. Proterra uses the highly efficient UQM Technologies’ PowerPhase HD® electric propulsion system for its all-electric buses to achieve this incredible fuel economy and superior mileage.
Proterra reports that it has recently tested a production bus that set a record for battery electric buses by traveling more than 700 miles in 24 hours. It also had outstanding efficiency during this test and achieved nearly 27 MPGe – the rating system used by the U.S. EPA to compare energy consumption of electric, plug-in electric and similar alternative-fuel vehicles with the fuel economy of vehicles powered by conventional internal-combustion engines. Proterra reports that the MPGe realized in this recent test is nearly six times better than a diesel-powered bus and seven times better than a CNG-powered bus.
“This achievement by Proterra demonstrates the efficiency of UQM propulsion systems in all-electric buses, as well as the durability,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies Inc. “Proterra continues to grow their presence in the marketplace with buses now running in six major U.S. markets, with more on the way, all exclusively powered by our electric propulsion system, providing efficient and reliable public transportation.”
Proterra is a leader in the design and manufacture of clean technology and clean energy, providing zero emission vehicles that enable bus fleet operators to significantly reduce operating cost while delivering clean, quiet power to the community. With unmatched durability and energy efficiency based on rigorous industry testing at Altoona, the Proterra product is proudly made in America and the company based in Greenville, SC. For more information about Proterra, please visit www.proterra.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 TS 16949 certified and located in Longmont, Colorado.
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, 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 annual report on Form 10-K for the fiscal year ended March 31, 2013 and our Form 10-Q filed on January 30, 2014, which is available through our website at www.uqm.com or at www.sec.gov.