LONGMONT, Colo.--(BUSINESS WIRE)--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.”
UQM Technologies will work with ReGen Nautic to integrate UQM PowerPhase® hybrid electric systems into a variety of marine applications. Implementation of UQM electric motors and controllers in marine propulsion systems will allow for the capture and storage of more energy while reducing the overall weight of the vessel, increasing cruising speeds, reducing maintenance costs, offering silent operation mode and delivering better overall vessel performance.
“We are working with UQM to develop several hybrid electric systems for the marine industry that will provide dramatically better performance than even the newest diesel technology,” said Pierre Caouette, ReGen Nautic President and Chief Operating Officer. “Our systems will provide vastly improved reliability and ease of use for the customer, along with the highest standard of safety.”
UQM PowerPhase electric propulsion systems have been selected to power the Saab 9-3 ePower, Audi A1 e-tron and Rolls-Royce 102EX Electric Phantom pre-production test fleet vehicles. UQM is also powering Proterra’s electric composite transit buses, as well as Electric Vehicles International’s all-electric medium-duty truck and walk-in van. The company has a new facility with 40,000 units of annual production capacity for its PowerPhase electric propulsion systems to support the commercial launch of CODA Automotive and other customer applications.
About ReGen Nautic, Inc.
ReGen Nautic USA is a private corporation located in Fort Lauderdale, Florida. The company has developed hybrid electric propulsion systems for yachts, trawlers, and sailboats over 50 feet. It customizes automation systems to boat design, and the company’s products are the unique components needed for system function. It manufactures high voltage (HV) boxes and licenses the software for integration and safety systems. ReGen Nautic has pending patents that protect its intellectual property related to integrating, optimizing and combining components of marine hybrid systems, providing efficient operation and fuel savings.
Please visit www.regennautic.com for more information.
About UQM Technologies, Inc.
UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, military and industrial markets. A major emphasis for UQM is developing products for the alternative-energy technologies sector, including propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles, under-the-hood power accessories and other vehicle auxiliaries. UQM headquarters, engineering, product development center and manufacturing operation are 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, orders to be received under our supply agreement with CODA Automotive, our ability to successfully expand our manufacturing facilities, 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 August 1, 2011, which is available through our website at www.uqm.com or at www.sec.gov .