Protean Electric Receives Prestigious Technology Pioneers Award from World Economic Forum

TROY, Mich., Sept. 1, 2011 /PRNewswire/ -- Protean Electric, a global clean technology company based in the United States and the UK, has been awarded the prestigious Technology Pioneers award by the World Economic Forum for its in-wheel motor, electric drive system for cars and trucks.

(Logo: http://photos.prnewswire.com/prnh/20110901/DE61048LOGO )

The 2012 class of Technology Pioneers, announced today in Switzerland, comprise 25 of the most innovative technology start-ups from around the world. These companies represent the latest generation of innovation and are poised to have a critical impact on how business and society work, according to the World Economic Forum.

Protean Electric's in-wheel motors improve fuel economy and performance, and can be easily integrated into a broad range of vehicles.  Protean's system can increase fuel economy by over 30 percent depending on the size of the battery and the driving cycle. The motors also have the highest torque and power density of any of today's leading electric propulsion systems.

"We are honored to be named a World Economic Forum Technology Pioneer -- recognition that our in-wheel motor design is a 'game changer' for integrating electric propulsion into the world's cars and trucks," said Bob Purcell, chairman and CEO of Protean Electric.

Protean Drive™ can bring hybrid powertrains to vehicle platforms with fewer new parts, less complexity, and at a lower total cost than other electric drive systems. The system can be used for both hybrid and electric vehicle applications.

"All of these benefits make the Protean system the closest thing to a bolt-on electric drive," Purcell says.  "We believe our system has the potential to bring electric drive to many of the world's vehicle markets."

The Technology Pioneers 2012 will be recognized for their work in September at the Annual Meeting of the New Champions in Dalian, People's Republic of China.

For further information on the Technology Pioneers 2012, please visit http://www.weforum.org/techpioneers.

For more information on Protean Electric, please visit http://www.proteanelectric.com.

SOURCE Protean Electric

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