UQM Technologies, Inc. (AMEX:UQM), a developer of alternative
energy technologies, announced today the appointment of Joseph P.
Sellinger to the Company’s Board of Directors.
Mr. Sellinger will replace Dr. Ernest H. Drew who will be retiring in
the summer.
Mr. Sellinger recently retired after a 35 year career at Anheuser-Busch
Co. Inc. where he most recently served as a Vice President and Group
Executive of Anheuser Busch Companies and was Chairman, President and
Chief Executive Officer of the Anheuser-Busch Packaging Group, where he
was responsible for five wholly-owned packaging subsidiaries. Earlier in
his career, Mr. Sellinger held the position of Vice President Operations
where he was responsible for Anheuser-Busch domestic brewery operations.
Mr. Sellinger graduated from Georgetown University in 1968 with a
Bachelors Degree in History and served in the U.S. Navy from 1968 to
1971 including service in the Vietnam War as a Navy Intelligence Officer.
"We are very honored to have Joe join our
board of directors. With 35 years of operations and manufacturing
experience in a complex and high volume manufacturing environment, Joe’s
background and experience will be a tremendous asset as we continue to
expand our manufacturing operations,” said
William G. Rankin, President and Chief Executive Officer of UQM
Technologies. "Joe will ultimately fill the
seat being vacated by Ernie Drew who will be retiring later this summer.
Dr. Drew has served on the board since 1999 and serves on the audit and
compensation and benefits committees of the board. We thank Ernie for
his eight years of dedicated and capable service to the company, his
wisdom and counsel will be greatly missed.”
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 January
30, 2008, which is available through our website at www.uqm.com
or at www.sec.gov.
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