SOURCE: HPEV, Inc.

February 02, 2015 07:19 ET

HPEV Announces Second Mobile Generation Order and Prominent Vendor Award From Electric Vehicle Company Innova UEV

The University of Washington and Colorado State University to Use Technology for Sustainable Car Research Program

TAMPA, FL--(Marketwired - Feb 2, 2015) - HPEV, Inc. (OTCQB: WARM), an innovator in energy efficiency and thermal dispersion technologies, announced today that it has been awarded a second 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 Quick Charge technology to provide students and faculty with a sustainable zero carbon transportation option. Internet2 is a consortium led by more than 220 universities working in partnership with industry and government to develop and deploy advanced network applications and technologies, accelerating the creation of tomorrow's Internet. This program paves the way for HPEV's quick charge solution in the growing electric vehicle market.

Previously, the University of Wisconsin was selected by Innova to receive HPEV's MG and Quick Charge technology to keep the vehicles charged. This new order adds the University of Washington and Colorado State University to the list of pilot schools as the program is expected to 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.

"This marks our second contract award from Innova as its UEV Program expands. Our MG quick charge solution will play a major role in changing the way electric vehicles are charged. That's because each vehicle can be monitored remotely, so an HPEV truck can be on hand before the driver even realizes a charge is needed," noted Mark Hodowanec, HPEV's Chief Technology Officer and co-founder.

"We are excited to have the HPEV MG solution as a foundation technology for our UEV Program. By allowing us to monitor our vehicles in the field, then remotely charge them in under 20 minutes is a paradigm changer for electric fleets. HPEV is the perfect partner for us as we introduce this program to more than 300 universities nationwide," commented Roman Kuropas, Innova's founder and CEO.

The foundation of the HPEV's MG quick charging technology is mobile power generation that eliminates the need for a tow behind generator. The generator is built right into the truck. It delivers the same power at a fraction of the weight and without the added hassle of a tow behind or the environmental issues associated with diesel generators.

HPEV's MG system fits entirely under the vehicle bed between the chassis frame rails leaving the cargo area 100% usable. Compared to the legacy tow behind platforms on the market, the MG system weighs roughly 20% of the current market offerings and will sell competitive price. Further, the MG doesn't affect a vehicle's towing capacity. The HPEV system controller is fully integrated with the vehicle's power/engine control systems and interactive display panels.

    50 kVa   70 kVa
    Baldor   HPEV   Doosan   HPEV
Weight (lbs)   3,890   706   6,000   1,106
Price   $36,674   $29,330est.   $56,827   $45,461 (est)

generator models: Baldor TS60T/S, Doosan G70WCU-3A-T4
isource: Baldor and Doosan company literature

"I am aware of no other mobile power product on the market that delivers more power at a lower cost. This product changes the market. It's that simple," commented Dan Ustian, former Chairman and CEO of Navistar and HPEV Advisory Board member. "When you look at it from a truck customer's perspective, the product adds tremendous value at a much lower cost than what is available today."

The current HPEV product offering ranges from 25kVa to 200kVa with up to 400kVa expected to be available in 2016. The HPEV systems are built on electric generators and incorporate HPEV's patented thermal dispersion technology which increases the generator's power density and reduces its weight well below competitive offerings. The tow behind generators offered in the marketplace today weigh up to 6,500 pounds and, when towed by a Ford F350, can reach towing capacity and eliminate the ability to carry anything in the bed of the truck. With The HPEV system there is nothing to tow and the truck bed is fully usable to carry equipment or cargo. Unlike tow behind and bed mounted generators, HPEV's MG is not sensitive to temperature or altitude variations and it's much better for the environment because it doesn't require a second engine to drive the generator. HPEV powers the generator from the vehicle engine which is more highly regulated for emission control than tow behind generator engines. Because of this, the HPEV system won't be affected by the EPA's emission restrictions on diesel engines.

For further information on HPEV's technology, please see the Board of Advisor interviews at: http://hpevinc.com/investors/industry-interviews/

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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