UQM Technologies to Supply Propulsion Motors, Generators And Power Electronic Controllers to Department of Defense Funded Pre-Production Hybrid Electric HMMWV Program

    GOLDEN, Colo., May 17 UQM Technologies, Inc. (Amex: UQM),
a developer of alternative energy technologies, announced today that it will
supply UQM(R) propulsion motors, generators and power electronic controllers
to PEI Electronics Inc. (PEI), Huntsville, Alabama as part of a program with
AM General Corporation, South Bend, Indiana, to develop a pre-production High
Mobility Multipurpose Wheeled Vehicle (HMMWV pronounced HUMVEE(R)) powered by
a hybrid electric powertrain.  AM General has manufactured the HUMVEE(R) since
1985, delivering more than 150,000 of the versatile, 4-wheel drive vehicles to
the U.S. Armed Forces and more than 30 friendly overseas nations.   Funding
for the program is being provided by the Department of Defense through the
Army's Tank-Automotive and Armaments Command (TACOM), based in Warren,
Michigan.
    As a precursor to this program, PEI developed and built two prototype
hybrid electric HUMVEE's(R) powered by UQM(R) proprietary propulsion systems
that have undergone extensive durability and performance testing at the U. S.
Army's Aberdeen Proving Grounds in Aberdeen, Maryland and the Nevada
Automotive Test Center near Reno, Nevada.  Results from these tests have
validated fuel economy gains of nearly 100 percent in most driving cycles
together with significant improvements in acceleration and gradeability.  One
of the two prototypes completed a cross country trip from Washington, D.C. to
San Francisco, California last spring demonstrating significant fuel economy
and performance advantages and the reliability and durability required for
military use.
    Commenting on the program, UQM Technologies' President and Chief Executive
Officer, William G. Rankin, said,  "The military has always led in the
adoption of advanced technologies in its equipment and systems.  Hybrid
electric HUMVEE's are no exception, providing significantly improved mobility
and fuel economy, the ability to be operated in low noise and heat signature
"stealth" mode and considerable on-board electric power for a multitude of
uses.  PEI's key role as systems integrator and power system provider has
facilitated the launch of this production-intent program which is a key step
toward the deployment of these vehicles in military fleets worldwide in the
near term.  As the military continues toward its goal to broadly adopt hybrid
electric power systems in combat vehicles, we expect our proprietary products
to be incorporated in additional military vehicle and weapon system
platforms".
    Jim Belcher, PEI President, said, "The development and deployment of this
key energy technology presents a huge opportunity for the participants and a
big payback for the Department of Defense. We are very pleased with the high
performance and efficiency of the products we are using from UQM Technologies
and appreciate their critical role in this program.  Going forward, we see
hybrid electric powered vehicles as an important strategic and enabling
technology for future combat systems".
    UQM Technologies, Inc. is a leading developer and manufacturer of power
dense, high efficiency motors, gear assemblies and electronic assemblies for
the automotive, aerospace, telecommunications, medical and industrial markets.
A major emphasis of the Company is developing products for the alternative
energy technologies sector including power systems for electric, hybrid
electric and fuel cell electric vehicles, 42 volt vehicle auxiliaries and
distributed power applications.   The Company's headquarters and engineering
and product development center are located in Golden, Colorado.  Manufacturing
facilities are located in Frederick, Colorado (electric motors and gear
assemblies) and St. Charles, Missouri (electronic assemblies and wire
harnesses).  For more information on the Company, please visit its worldwide
website at http://www.uqm.com.
    PEI Electronics, a company of Integrated Defense Technologies Company, is
located in Huntsville, Alabama, where it employs a staff of more than 400.
PEI has been involved in the development of electric and hybrid electric
vehicles and components since 1976 under various internal programs and
programs funded by the Department of Energy, Department of Transportation,
Department of Defense, DARPA and the Electric Power Research Institute.  PEI
produces automatic test equipment, vetronics, and power management equipment
for the U.S. Army and industry.  For more information on the Company, please
visit its worldwide website at http://www.pei-electronics.com
    AM General Corporation, headquartered in South Bend, Indiana, is a
privately-held company owned by New York City based Renco Group, Inc.  AM
General is a leader in designing and manufacturing light and medium duty
trucks for military and government use. Since 1992, the Company has
manufactured a commercial version of the HUMVEE called the HUMMER for civilian
use, which is currently marketed globally to retail and commercial customers
by General Motors Corporation under an exclusive marketing and distribution
agreement.  For more information on the Company, please visit its worldwide
website at http://www.amgeneralcorp.com

    This press release may contain forward-looking statements that involve
risks and uncertainties.  These statements may differ materially from actual
future events or results.  Readers are referred to the Risk Factors section of
the Registration Statement on Form S-3 (File No. 333-78525) filed by the
Company with the SEC, which identifies important risk factors that could cause
actual results to differ from those contained in the forward-looking
statements, including the Company's ability to be profitable, its ability to
obtain additional financing, the Company's reliance on major customers and
suppliers and the possibility that product liability insurance may become
unavailable. These forward-looking statements represent the Company's judgment
as of the date of the press release.  The Company disclaims, however, any
intent or obligation to update these forward-looking statements.

                     MAKE YOUR OPINION COUNT - Click Here
               http://tbutton.prnewswire.com/prn/11690X79328927