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UQM Technologies and Proterra Complete New Three-Year Electric Propulsion System Supply Agreement


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LONGMONT, Colo.--March 13, 2013: UQM Technologies, Inc. (NYSE MKT: UQM) and Proterra, Inc. have reached a long-term supply agreement that expands their business together and continues the role of UQM as the exclusive supplier of electric propulsion systems to the maker of battery-electric buses. Under the new agreement, Proterra will purchase the recently released UQM PowerPhase HD 220 electric propulsion system.

“We have had a great business relationship with Proterra since the company was founded, supplying over $1 million of electric propulsion systems to them for their battery-electric buses”

"We have had a great business relationship with Proterra since the company was founded, supplying over $1 million of electric propulsion systems to them for their battery-electric buses," said Eric R. Ridenour, UQM Technologies' President and Chief Executive Officer. "This new three-year agreement will build on that relationship, grow our volume with Proterra and provide an important customer for our newly introduced PowerPhase HD 220 product."

Shipments to Proterra under the agreement are currently underway.

"UQM has consistently delivered high-quality systems to power our EcoRide BE35 battery-electric buses throughout our development and initial fleet deployments," said David Bennett, Chief Executive Officer of Proterra. "It was a natural decision to grow our business with UQM as we expand the production of our zero-emission commercial transit solutions."

The Proterra zero-emission all-electric EcoRide BE35 holds 63 passengers (33 seated) and features a lightweight composite body. The UQM PowerPhase HD 220 electric propulsion system powering the bus produces peak torque of 700 N-m and peak power of 220 kW allowing the bus to deliver exceptional energy-efficient performance.

The UQM PowerPhase HD 220 electric propulsion system was designed specifically for commercial vehicle use, offering commercial truck and bus manufacturers an efficient path to adopting electric propulsion technology in their heavy-duty vehicles.

Proterra buses have been, or soon will, be in operation in the following cities: Pomona, CA; San Antonio, TX; Tallahassee, FL; Seneca, SC; Reno, NV; Worcester, MA and Stockton, CA.