UQM Receives Fuel Cell Components Contracts

October 13, 2002 by Jeff Shepard

UQM Technologies Inc. (Frederick, CO) announced that it has been awarded several contracts totaling $1.5 million from fuel cell customers in North America and Europe for the development and supply of various key fuel cell components for air and hydrogen management, including advanced electric motors and associated electronic controls as well as complete compressor subsystems.

"The pace of fuel cell development internationally is definitely picking up steam," said UQM Technologies President and CEO William Rankin. "Nearly every automotive OEM worldwide is developing advanced electric-powered vehicles that incorporate hydrogen-based fuel cells, and there is continuing progress being made in stationary power fuel cell applications as well. These additional contracts represent a significant opportunity for our company to participate in both the automotive and stationary power high-potential growth markets."