LONGMONT, Colo., Sep 28, 2010 (BUSINESS WIRE) -- UQM Technologies, Inc. (UQM), a developer of alternative energy technologies, announced today that it has completed an agreement with Proterra Inc, a Golden, Colorado-based developer and manufacturer of electric and hybrid electric transit buses, to supply UQM(R) PowerPhase(R) 150 electric propulsion systems for use in Proterra's all-composite fast charge battery electric transit buses. The initial term of the supply agreement is one year. Deliveries totaling $627,500 are scheduled to begin in October. Additional deliveries permitted in the agreement during its one-year term could raise the total value of the contract to over $1 million.
Man, Revo and Odi are falling sleep on me.
Two Colorado companies — UQM Technologies and Proterra Inc. — have signed a one-year deal to get electric buses on the road.
Longmont-based UQM (NYSE: UQM) said Tuesday the company has signed a one-year agreement with Golden’s Proterra for 150 of UQM’s electric propulsion systems. The motors will be used in Proterra’s electric transit buses.
Deliveries, totalling $627,500, are expected to begin in October. Additional, optional deliveries covered in the agreement could raise the contract value to more than $1 million, UQM said.
Read more: UQM, Proterra sign deal for 150 electric bus motors - Denver Business Journal
Did the journal make a mistake?
UQM Technologies, Inc. announced today that it has made a significant breakthrough in the development of non-rare-earth magnet electric motor design as part of the work being done under the Department of Energy (DOE) Advanced Research and Development Grant.
“Leveraging our expertise in electric motor design, we’ve developed an electromagnetic design that produces competitive power-density and efficiency with non-rare-earth magnets,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “This is great progress toward our objective of identifying magnet materials and technology that can deliver the performance our customers expect while limiting our exposure to price and supply concerns associated with rare-earth magnets.”
This work on non-rare-earth magnet motors is funded through a $4 million award to UQM as part of a DOE Advanced Research and Development Grant. Under the agreement, UQM is cost-sharing 25 percent of the total effort. The engineering team at UQM is working collaboratively with Ames Laboratory, the National Renewable Energy Laboratory and Oak Ridge National Laboratory to develop and apply these non-rare-earth magnets in a high-performance permanent magnet motor.
“The key to using non-rare-earth magnets in electric motors for vehicles is our patent-pending motor geometry, which in part defines the shape and magnetization direction of the permanent magnets,” said Jon Lutz, UQM Technologies’ Vice President of Engineering. “The completion of the electromagnetic design and analysis task is a significant step in the process of advancing motor and generator technology for electric and hybrid electric vehicles, providing an alternative to rare-earth magnets in permanent-magnet motor designs.”
The next phase under the DOE grant is the mechanical design of the motor. Work on this is now underway at UQM to produce a concept-unit build in the next calendar year.
the last time I talked to the president of UQM ... they were trying to get the price per unit even on a large scale order under $10,000 per unit.
That was some time ago. But my guess is yes the article is wrong because the total price is 1/2 the asking price.
One per bus. Single quantity price for the PowerPhase 150 is $34,700.
$627,500 / $34,700 = 18 units
$627,500 / $31,375 = 20 units
$627,500 / $25,100 = 25 units
My guess is that it is an order for 25 units.
Ldaze, can you extrapolate how many buses the Altair purchase order covers?
>>SYNOPSIS: The initial purchase order of $4.6 million is for delivery of modules through June 2011.<<
It could be PA ordering:
You know there is a nine month lead time for orders representing appr 60 or 70+ buses?
Copeland holding back on us will result in a succeful lawsuit against the company. Possibly his removal. YES...