UQM Receives Additional Funding from Air Force

UQM Technologies, Inc,.a developer of alternative energy technologies, has received additional funding from the U.S. Air Force to purchase and evaluate a high voltage battery charging system and engineer an electric pickup truck for the future installation of a fuel cell auxiliary power unit that would supplement the amount of power available onboard the vehicle. The $120,000 in incremental funding raises the total value of the contract to $750,000.

The overall objective of the project is to evaluate the performance of an optimized all-electric pickup truck versus similar electric vehicles operating with older technologies. Delivery of the vehicle is expected in January 2006. William G. Rankin, UQM Technologies’ president and chief executive officer, said, “The ever-increasing cost of fuel and ability of these advanced technologies to overcome some of the limitations of previously developed battery-powered vehicles, could potentially lead to a resurgence of interest in all-electric vehicles.”