UQM Technologies (UQM) Nets Military Orders Worth $2.77 Million

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09:06:13 am on June 15, 2009

UQM Technologies just announced that the company has received $2.77 million worth of orders from the US military over the past 90 days. The orders are for propulsion systems, generators and engineering activities and projects. For example, the most recent order is from the US Navy and provides UQM with $750,000 to improve the torque of electric motors and to work with the University of Texas on an advanced gearbox.

In a press release, UQM’s President and CEO William G Rankin commented on the orders:

"The military continues to aggressively pursue the advancement of electric motor technology and its use in a variety of demanding applications, including vehicle propulsion. We are pleased to have the U.S. Army, Navy and Air Force as significant customers for our proprietary technology and are looking forward to the continued development and application of our advanced motors and power electronic controls for their programs.

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