Unique Mobility, Inc. Hybrid-Electric Propulsion System To Debut
23 February 1999
Unique Mobility, Inc. Hybrid-Electric Propulsion System To Debut in a Heavy Tracked VehicleGOLDEN, Colo., Feb. 23 -- Unique Mobility, Inc. (Amex: UQM) announced today that it has delivered electric propulsion system components to Technion - Israel Institute of Technology, as part of their development and installation of a hybrid-electric powertrain system in a heavy tracked vehicle. The hybrid-electric propulsion system components consist of two SR286 waterproof traction motors rated at 75kW each, a similarly sized generator unit rated at up to 100kW output which will be mated to a diesel engine and the related electronic controls. Hybrid-electric vehicles, powered by a combination of electric motors and conventional diesel or gasoline engines, have more range than electric-only vehicles and don't require charging infrastructure since on-board batteries are charged by the diesel generator. The vehicle can be operated quietly in an all-electric mode while giving off a "low thermal signature" which makes it virtually impossible to detect using infrared sensor technology. Unique has previously delivered electric propulsion system components for a Defense Advanced Research Projects Agency ("DARPA") hybrid-electric HMMV ("Hummer"). That vehicle was powered by four UQM 75kW traction motors and a 55kW generator and boasted twice the acceleration and climbing capability of a conventionally powered Hummer. "We believe there is tremendous opportunity to introduce hybrid-electric propulsion systems in combat class vehicles where performance, improved emissions and stealth mission capability are value added to the end user. The incorporation of our gear into this heavy tracked vehicle will allow our customer to experience first hand the brute power and value added capabilities of this technology," said Ray A. Geddes, Unique's Chairman and Chief Executive Officer. Unique Mobility, Inc., is a leading developer and manufacturer of power dense, high efficiency motors, gear assemblies and electronic assemblies for the aerospace, telecommunications, automotive, medical and industrial markets. The Company headquarters and engineering and product development center are located in Golden, Colorado. Manufacturing facilities are located in Frederick, Colorado (electric motors and gear assemblies) and St. Charles, Missouri (electronic assemblies and wire harnesses). For more information on the Company, please visit its worldwide web site at http://www.uqm.com. This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the Risk Factors section of the Registration Statement on Form S-3 (File No. 333-67313) filed by Unique with the SEC, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including Unique's history of operating losses, its ability to obtain additional financing, competition, the Company's ability to integrate acquired businesses into existing operations, Unique's ability to protect its proprietary information, Year 2000 issues and Unique's limited experience in manufacturing processes and procedures and marketing and distribution.