UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy technologies, announced today that one of its 150 KW propulsion systems will be powering a 1959 Lincoln Continental Mark IV being converted to a bio-hydro-electric series hybrid vehicle by rock legend Neil Young in collaboration with Jonathan Goodwin’s H-Line Conversions of Wichita, Kansas.
Young, who has renamed his car “Linc Volt”, is converting the vehicle as part of a personal initiative he calls “Re-powering the American Dream”, which represents his vision of drawing on American ingenuity and entrepreneurial spirit to implement technology solutions that can make a meaningful impact on energy consumption now.
Young’s Mark IV is 19.5 feet long, making it the longest production car ever made, and weighs two and one-half tons, the heaviest car of its era. Goodwin-Young estimate that the converted vehicle will achieve over 100 miles per gallon versus the 10 miles per gallon of the stock vehicle. Mr. Young is making a movie about the transformation of his car, which he hopes to release in the fall.
“By drawing on entrepreneurial companies’ advanced technology and good old American ingenuity, we intend to transform one of the largest and heaviest gas guzzling vehicles of our generation into a highly energy efficient vehicle, and demonstrate to the American public that we can re-power the American dream by demanding environmentally-friendly vehicles now,” said Mr. Young. “Our country is full of innovative entrepreneurs and advanced technology companies, like H-Line Conversions and UQM Technologies, who have the capability and drive to make big things happen.”
“We are pleased to have been selected by Neil and H-Line conversions as the propulsion system supplier for this high visibility project. The vehicle will be powered by our most technologically advanced and powerful propulsion system, the PowerPhase™150, which I am confident will deliver performance that exceeds their expectations,” said William G. Rankin, President and CEO of UQM Technologies, Inc.
H-Line Conversions specializes in custom vehicle conversions that turn gas-guzzling behemoths like Hummers, Cadillac Escalades, Jeeps and other big American cars into clean-power machines. Located in Wichita, Kansas, H-Line converted vehicles have been featured on MTV’s “Pimp my Ride” and upcoming conversions are being taped for a television series that is set for national television release. For more information on the Company, please visit its worldwide website at www.hlineconversion.com.
Neil Young has established himself as one of the most influential singer/songwriters of his generation. He began his career in the 60’s with the folk-rock band Buffalo Springfield. After leaving the band in 1968, Mr. Young established a solo career as a songwriter and singer spanning three decades. In addition to a successful solo career, Mr. Young also performed with the band Crosby, Stills, Nash & Young during the 1970’s.
UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, medical, military and industrial markets. A major emphasis of the Company is developing products for the alternative energy technologies sector including propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles, under-the-hood power accessories and other vehicle auxiliaries and distributed power generation applications. The Company’s headquarters, engineering and product development center, and motor manufacturing operation are located in Frederick, Colorado. For more information on the Company, please visit its worldwide website at www.uqm.com.
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 officers and directors with respect to, among other things the development of markets for our products and the adequacy of our cash balances and liquidity to meet future operating needs. Important Risk Factors that could cause actual results to differ from those contained in the forward-looking statements are contained in our Form 10-Q filed October 31, 2007, which is available through our website at www.uqm.com or at www.sec.gov.
UQM Technologies, Inc.
Donald A. French, 303-278-2002
BPC Financial Marketing
John Baldiserra, 800-368-1217
– Via PressRoom 2.0 [ http://pressroom2.com/ ] [Inbox MM]