UQM Technologies Receives Follow-On Order from RAPAC to Support New Demand in Israel
12 July 2016 - 10:30PM
Business Wire
- The new order is for UQM PowerPhase HD®
950T electric drive systems to be installed in UQM powered Humvee
military vehicles.
- This additional order is part of the
ongoing MOU signed with RAPAC in September of 2015.
UQM Technologies Inc. (NYSE MKT:UQM) today announced the
receipt of a new order from RAPAC for PowerPhase HD® 950T electric
drive systems to be installed in Humvee military vehicles in
Israel.
RAPAC CEO Ron Oren commented on the ongoing strategic
partnership with UQM, “The RAPAC vehicle applications are designed
for the most demanding environments in the world and the UQM
products have proven themselves as exceptional products in the time
we have demonstrated them out in the field. UQM delivers the
highest quality and the most technologically advanced electric
drive motors and controllers in the industry. We look forward to
continuing to represent UQM products in this part of the
world.”
Joe Mitchell, UQM President and CEO, said, “We are pleased to
see RAPAC’s forward progress on electric projects. This is another
successful example of UQM’s execution on our global diversification
strategy.”
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 RAPAC
RAPAC Communication & Infrastructure Ltd.
(formerly RAPAC Electronics Ltd.) was established in 1964 and is
traded on the Tel Aviv Stock Exchange since 1978
(TASE:RPAC). The company owns several subsidiaries that are
active in the Infrastructure, Communication, Defense,
Transportation and Computing fields.
RAPAC also acts as consultant and representative to some of the
largest worldwide defense companies such as Raytheon, Rockwell
Collins, CPI and others. For more information, please visit
www.rapac.co.il.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160712005407/en/
EnergyTech Investor, LLCShawn Severson,
415-233-7094orUQM Technologies, Inc.David
Rosenthal, 303-682-4900
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