UQM Technologies CEO to Present at New York Society Of Security Analyst's Alternative Energy Industry Conference

      Presentation to be Webcast Live Over the Internet on June 11, 2001

    GOLDEN, Colo., May 31 UQM TECHNOLOGIES, INC. (Amex: UQM)
announced today that its President and Chief Executive Officer, William G.
Rankin, will be presenting to the Alternative Energy Industry Conference
sponsored by The New York Society of Security Analysts, Inc., at One World
Trade Center, 44th Floor, Suite 4447, in New York City at 11:50 a.m. on
Monday, June 11, 2001.
    Mr. Rankin will give an overview of UQM Technologies and discuss the
Company's role as a developer and producer of energy efficient alternative
energy products, including power and electronic systems for fuel cells, and
other distributed power generation applications, as well as, for electric,
hybrid electric and fuel cell electric vehicles. Mr. Rankin's presentation
will be broadcast live, via Webcast, at http://www.nyssa.org or
http://www.ccbn.com.
    Those wishing to attend Mr. Rankin's presentation, in person, are
requested to register on The New York Society of Security Analysts, Inc., Web
site at http://www.nyssa.org/events/alt_energy01.html .
    The conference will provide those attending an opportunity to listen to
senior executives from leading alternative energy companies discuss how they
are commercializing alternative energy sources such as distributed power,
solar power, fuel cells, photovoltaics and wind power.

    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.

    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.

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