Tuesday January 20, 2015 0 comments
LONGMONT - UQM Technologies Inc. (NYSE MKT: UQM) announced today it has been granted a U.S. patent for its electric and hybrid electric vehicle designs using non-rare-Earth magnets.
The majority of electric and hybrid electric vehicles made today use permanent magnet motors with rare-Earth magnet materials.
The new design provides a similar level of performance to UQM's current design, the company said, and once the development is completed will allow UQM the flexibility to choose between these systems depending on projected magnet costs in the future.
The patent, No. 8,928,198, was assigned to UQM on Jan. 6 and covers the unique magnet geometry and method of manufacturing the motor.
"The patented technology that we've developed provides a viable option to existing rare-Earth motor technology, limiting exposure for us and our customers to the price and political volatilities of rare-Earth magnets," said Eric R. Ridenour, UQM's president and CEO.
"We are now in the prototype stage and the first samples are meeting our objectives, providing us with the validation to move in the next phase of development."
Implementation of the patented technology is part of a $4 million DOE Advanced R&D Grant previously awarded to UQM for development of non-rare-Earth magnet electric motors.