SOURCE: HPEV, Inc.

December 30, 2014 06:57 ET

HPEV Announces Mobile Generation Order and Prominent Vendor Award by Chicago-Based Electric Vehicle Company Innova UEV

The University of Wisconsin to Use Technology for Sustainable Car Research Program

TAMPA, FL--(Marketwired - Dec 30, 2014) - HPEV, Inc. (OTCQB: WARM), an innovator in energy efficiency and thermal dispersion technologies, announced today that it has been awarded the exclusive supply contract to provide its patent pending Mobile Generation (MG) technology to the University Urban Electric Vehicle Program ("UEV"), established by Innova UEV, LLC (Innova), a Chicago based manufacturer of the urban electric vehicle called the "Dash". The UEV Program will leverage Internet2's technology platform and HPEV's MG mobile charging technology to provide students and faculty with a sustainable zero carbon transportation option. This program paves the way for HPEV's quick charge solution in the growing electric vehicle market.

HPEV's MG technology will be the sole technology used to remotely monitor and quick charge the vehicles in the field in fewer than twenty (20) minutes. HPEV is expected to deliver its initial MG mobile charging truck to Innova in the first quarter of 2015. The University of Wisconsin represents the first of several expected pilot program awards. This program is expected begin its roll out in 2015 and expand to more than 300 universities, each requiring multiple HPEV quick charge solutions. Each university has signed onto President Obama's AASCHE (Association for the Advancement of Sustainability in Higher Education) Sustainability Pledge and UEV will be a key component to each university reducing its carbon footprint.

"We are very pleased to be a part of Innova's University UEV Program. HPEV's mobile charging solution has the potential to be transformative not only to the universities, but also throughout the entire electric vehicle marketplace by reducing range anxiety. The ability to charge an electric vehicle, in the field, in as little as 15% of typical charge time can change the way electric vehicles are viewed and used in our world," said Timothy Hassett, HPEV's CEO and co-founder. "This opens a potentially huge and currently untapped market. When you need a tow or run out of fuel, you call AAA. With our system, when your UEV needs a rapid charge, we find you."

"After seeing the HPEV's technology demonstrated in November, we see a great fit leveraging HPEV's mobile charging technology for our Dash university car sharing platform. Initially, we are ordering 25kVa Ford systems with the integrated no idle, Level II charger options for our university research program. It's a perfect solution for keeping our Dash vehicles charged and on the road because it allows us to remotely charge in the field," commented Roman Kuropas, Innova's founder and CEO. "This solution offers Innova drivers an incredible advantage in 'quick' charging our Dash vehicles. We like the fact the HPEV system uses a Ford F350 with Altec's CNG (compressed natural gas) system which only helps complement our sustainable value proposition and solution. We did a lot of research on charging alternatives and the HPEV system is a one of a kind solution and critical to our program. The HPEV mobile charging solution offers us the best advantage to keep the Dash fleet charged and on the road."

The Dash vehicles will connect in real time with HPEV's Telematics & GPS system onboard the standard gas fueled Ford 350 Mobile Charging Truck modified with Altec's CNG system to deploy directly to the Dash's location for a "quick" charge to keep the Dash fleet on the road. Currently, the universities only offer limited charging infrastructure, which limits the use of the Dash fleet.

"HPEV's MG technology is the driving force behind the mobile charging capability. Fully integrated power (up to 200kVa) under the hood of almost any truck, new or older, regardless of whether it is diesel, gas, LNG, CNG, Fuel Cell, Battery, or Solar powered, it is something the marketplace has never seen and when you add Level II or III charging, you have a completely new solution," noted Theodore Banzhaf, HPEV's President. "When you consider the marketplace for mobile power solutions, just look at market leading Ingersoll Rand's (Doosan) product line for 25kVa and 70kVa. They are tow behind generators which is an immediate disadvantage from a fuel consumption and convenience standpoint, but further, the HPEV product with the same output weighs roughly 40% of the 25kVa Ingersoll model and less than 30% of the 70kVa model. It's built right into your truck, so you have nothing to tow," continued Banzhaf.

When one compares HPEV's MG to tow behind generators, the obvious advantages are lower weight and power anywhere one can drive the truck. Lower weight means less fuel consumption and a lighter class of vehicle on the highway. The less obvious advantages are HPEV's no idle feature and the CNG powered truck that allows the vehicle to meet the EPA Tier 4 emission regulations.

HPEV's MG and with optional Level II charging is currently available for purchase in 25, 50 and 70kVa continuous power to power outputs. Higher output MG up to 200kVa will be available in the second half of 2015.

About Innova UEV, LLC

Innova UEV, LLC is a privately held Chicago-based manufacturer of the 4G LTE and IOT Dash UEV (Urban/University electric vehicle). The Innova Dash is a sustainable and versatile vehicle for use in urban areas, on college campuses, retirement communities, golf resorts and in municipal fleets. Additionally, it is a viable second or third car for families to run errands around town. (innovauev.com)

About HPEV, Inc.

HPEV, Inc. is an intellectual property and product development company that employs a license and royalty model. The company has expertise in thermal dispersion technologies and their application to various product platforms. The Company is currently commercializing its patented thermal technology and has additional patents-pending for various OEM applications of its proprietary heat removal technologies. The markets that will be addressed by these technologies include myriad industries such as pumps, fans, compressors, batteries, motors, generators and bearings.

Safe Harbor Statement.

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on plans and expectations of management and are subject to uncertainties and risks that could affect the company's plans and expectations, as well as results of operations and financial condition. A listing of risk factors that may affect the company's business prospects and cause results to differ from those described in the forward-looking statements can be found in company reports and documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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