SOURCE: HPEV, Inc.

February 10, 2015 06:57 ET

HPEV Announces Third Mobile Generation Order From Electric Vehicle Company Innova UEV

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

TAMPA, FL--(Marketwired - Feb 10, 2015) - HPEV, Inc. (OTCQB: WARM), an innovator in energy efficiency and thermal dispersion technologies, announced today that it has been awarded a third supply contract under 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 contract will provide the University of Pittsburgh with HPEV's patent-pending Mobile Generation (MG) technology to quick charge the electric vehicles utilized under the program.

"We are pleased to receive this order for the final pilot of the Innova Program. HPEV is currently releasing orders for the 50 initial Mobile Generation kits to our manufacturing partners. They will range in power outputs from 25kVa, or the MG25, to 70kVa, the MG70," noted Timothy Hassett, HPEV's CEO and co-founder. "This month we will be demonstrating our MG25 to potential customers at our Chicago research and development facility as well as taking orders for the MG25 & MG70 and pre-orders for the MG200. The Company will open up the product up to more customers at The Work Truck Show March 4-6, in Indianapolis."

Previously, the Universities of Wisconsin and Washington and Colorado State University were selected by Innova to receive HPEV's MG and Quick Charge technology to keep the vehicles charged. This new order adds the University of Pittsburgh 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.

"HPEV's MG Quick Charge technology could open a whole new world to the electric vehicle market and reduce, if not eliminate, what is called 'range anxiety' by having the ability to predict when electric vehicles are in need of a charge and actually travel to them to provide a full charge very quickly. That should open the market for electric cars up to many who are concerned about electric vehicles' range and viability as a commuter vehicle," commented Scott Van Dorn, member of HPEV's Board of Advisors and vehicle industry veteran.

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.

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 at competitive prices. 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.

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.

Contact Information

  • For more information about the media inquiries, contact:
    HPEV, Inc.
    ir@hpevinc.com