Leading industrial electrical manufacturer UQM Technologies Inc. (UQM - Free Report) recently inked a three-year supply agreement with green tech manufacturing company Boulder Electric Vehicle for an undisclosed amount. With this deal, UQM Technologies becomes the exclusive provider of electric propulsion systems to the commercial fleet of Boulder Electric. The fleet includes delivery vans for United Parcel Service, Inc. (UPS - Free Report) and the Department of Defense SPIDERS (Smart Power Infrastructure Demonstration for Energy Reliability and Security) program.
Boulder Electric will specifically utilize the UQM PowerPhase HD 220 electric vehicle system to power its DV-500 commercial vehicle platform, comprising all-electric models of delivery vans, flatbed trucks and service body trucks. This indigenous technology from UQM Technologies will deliver 700 Nm of peak torque, 220kW of peak power and 120kW power on a continuous basis for the resourceful deployment of electric propulsion system to achieve higher efficiency levels.
Since its introduction in 2012, UQM Technologies have extended the scope of the PowerPhase HD 220 system for use in electric, hybrid and extended-range vehicles. Consequently, these all-electric and hybrid-electric propulsion systems find diverse applications ranging from small passenger cars to commercial transit buses. The current service agreement with Boulder Electric is likely to augment its position in the market and strengthen its long-standing business association with one of its strongest ally.
Located in Longmont, Colo., UQM Technologies develops and manufactures power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, commercial truck, bus, marine and military markets. These include electric, hybrid electric, plug-in hybrid electric, and fuel cell electric vehicles for strategic partners, customers, and the U.S. government.
Some other players in the industry worth reckoning include CalAmp Corp. (CAMP - Free Report) and Plug Power Inc. (PLUG - Free Report) , both of which carry a Zacks Rank #2 (Buy).