LONGMONT, Colo.--(BUSINESS WIRE)--UQM Technologies, Inc. (NYSE MKT: UQM) today announced entry into the South American market with a key business relationship in Colombia with Creatti Labs SAS, an electric vehicle integrator that is designing the next generation EV transportation systems for Colombia and other South American markets. Creatti Labs and UQM are collaborating on an electric transit bus platform for the major bus operators in Cali, Medellin and Bogota, which are the three major transportation systems in Colombia. Early adopters of this program will take advantage of UQM’s advanced electric transit bus technology to replenish Colombia’s outdated bus fleets. In the forthcoming years, Creatti Labs plans on working closely with the major bus operators that will be bound by Euro 6 regulations to modernize their fleets in order to be able to continue operating their transit routes.
An initial UQM PowerPhase HD®250 motor/controller system integrated with a two speed EV transmission has shipped to Colombia and the prototype program is now underway for 2016. The next stages of the program are set to begin in 2017. This prototype system is the first of its kind in South America and is based on UQM’s industry-leading EV transit bus propulsion technology. In North America, UQM’s electric propulsion systems have set records for transit bus drivetrains by breaking the Altoona bus testing records, conquering steep grades, and setting efficiency and acceleration high marks. UQM powered electric transit bus technology has over 2 million miles of revenue service.
“UQM has raised the bar for the electric propulsion industry by producing the most technologically advanced and innovative electric drive motors and controllers in the industry,” said Joseph Mitchell, UQM Technologies’ President and CEO. “We are pleased to partner with Creatti Labs to enter the electric transit bus market in Columbia, which we believe will ultimately pave the way for further growth in the South American market.”
Jorge Andres Barrera, Managing Partner of Creatti Labs, said, “We researched electric bus technology around the world and selected UQM Technologies for their established propulsion transmission solution, as well as high-performance and industry-leading efficiency. UQM is the ideal drivetrain supplier for zero emission buses to serve metropolitan areas with the challenging topography that is found in Colombia.”
About UQM
UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators, power electronic controllers and fuel cell compressors for the commercial truck, bus, automotive, marine, military and industrial 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 and ISO 14001 certified and located in Longmont, Colorado. For more information, please visit www.uqm.com.
About Creatti Labs SAS
Creatti Labs SAS is a company founded in 2012 that focuses on technology and innovation in electric mobility, renewable energy and robotics. Since our inception, we have strived to make electric mobility a reality in Colombia and for that reason have focused on different transportation needs across a range of different industrial and commercial sectors. All-electric airport equipment, electric scooters and currently an all-electric bus prototype tailored for urban mass transport systems are some of our efforts to lead Colombian transportation towards a cleaner, safer, more efficient and more sustainable future. For more information, please contact info@creattilabs.com.
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, gaining required certifications, 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 Form 10-K and Form 10-Q’s, which are available through our website at www.uqm.com or at www.sec.gov.
Source: UQM Technologies, Inc.
