SOURCE: Phoenix Motorcars

February 23, 2007 11:42 ET

Phoenix Motorcars' CEO Discusses Alternative Fuel With President Bush

ONTARIO, CA -- (MARKET WIRE) -- February 23, 2007 --Daniel J. Elliott, CEO of Phoenix Motorcars, met with President George W. Bush this past Friday to discuss the future of alternative fuel and its impact on improving environmental and energy performance. The one-hour meeting included a small group of alternative fuel entrepreneurs and scientists.

Elliott was among a select group of alternative fuel specialists who had a one-on-one meeting with the President to discuss Phoenix Motorcars' role in the electric vehicle industry. Following the meeting, President Bush had the opportunity to get an up-close look at Phoenix's sport utility truck and four other alternative fuel vehicles to evaluate overall performance.

"It was a pleasure meeting with the President and having the opportunity to speak on behalf of the electric vehicle industry," says Elliott. "Shifting to alternative fuel is a viable and crucial solution to protect America's economy and ecosystem, which in turn has global implications."

President Bush recently proposed a mandatory alternative fuels standard during a January 23, 2007 State of the Union Address asking Congress, scientists, farmers, industry leaders and entrepreneurs to increase the supply of alternative fuels and reduce gasoline usage in the United States by 20 percent in the next 10 years. The "Twenty in Ten" plan will also require the Federal Government to increase its energy efficiency, reduce greenhouse gas emissions and to purchase environmentally sound products.

"I am pleased to see the Federal Government is investing in energy security," added Elliott. "Innovative research and technological advancements in alternative fuel will only improve our infrastructure."

Elliott oversees Phoenix Motorcars, a California-based manufacturing company specializing in all-electric, zero-emission, freeway-speed vehicles. The privately held company currently targets the fleet market with its sport utility truck model. A limited number of their sport utility trucks will be available to consumers in 2007 with an expanded consumer launch scheduled for 2008. Phoenix Motorcars will also introduce a sport utility vehicle model in late 2007.

Elliott's alternative fuel background consists of over 16 years of industry experience, including the development of low-speed and high-speed electric performance vehicles. Elliott has also worked in both project management and business development on several alternative fuels projects including methanol, hydrogen ICE, fuel cells and hybrids.

ABOUT PHOENIX MOTORCARS, INC.

Phoenix Motorcars Inc., a privately held company headquartered in Ontario, Calif., has been an industry leader in the development of battery-electric, freeway-speed vehicles since 2001. The mission of Phoenix Motorcars is to manufacture zero-emission vehicles including Sport Utility Trucks and Sport Utility Vehicles to reduce the toxic emissions from the largest contributor to air pollution, personal automobiles. Phoenix Motorcars has strategic alliances with UQM Technologies, Inc. (AMEX: UQM), Altair Nanotechnologies, Inc. (NASDAQ: ALTI) and Boshart Engineering. For additional information, visit www.phoenixmotorcars.com.

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