UQM Technologies, Inc. (AMEX: UQM) and Altair Nanotechnologies, Inc. (Nasdaq: ALTI) jointly announced today that they have formed a strategic alliance to collaboratively pursue opportunities for their complementary proprietary technologies in advanced transportation and other high potential markets. By collaborating the two parties hope to be able to accelerate the commercialization of their proprietary technologies.
The two are currently collaborating on the development and commercial launch of an all-electric sport utility truck (SUT) for Phoenix Motorcars, Inc, which is being integrated and tested by Boshart Engineering.
UQM's produces electric motor, power generator and power electronic products that are small, lightweight, highly efficient, and offer high torque and high speed in a single package, while Altairnano'produces NanoSafeTM battery packs that are safe, possess rapid charge and discharge rates, have exceptional performance at high and low temperature extremes and exhibit long cycle life.
The Phoenix all-electric SUT is powered by a 100 kW UQM® electric propulsion system which produces over 400 ft-lbs of torque, accelerates the vehicle from 0 to 60 miles per hour in less than 10 seconds, has a top speed of 100 miles per hour and operates at peak system efficiencies of over 94%. The vehicle's 35kWh NanoSafeTM battery pack can be recharged in less than 10 minutes with an appropriate rapid charging station and in a typical fleet duty cycle the vehicle can travel up to 135 miles between charges. The SUT is expected to qualify as a Type III ZEV in California.
A strategic partner network has been developed consisting of Altairnano, Boshart Engineering, Phoenix and UQM to develop Phoenix's vehicles. Now both Phoenix and Altainano have an agreement with UQM. It will be interesting to see if other vehicles develop from this network, whether an even closer arrangement will be formed and whether Phoenix will remain the lead partner or a new company formed. Altairnano already has a 16.6% interest in Phoenix.
Resource: UQM TECHNOLOGIES AND ALTAIR NANOTECHNOLOGIES FORM STRATEGIC ALLIANCE, Joint press release, Feb. 6, 2007