UQM CEO Announces Product Development Programs For Fuel Cells

   New Products Under Development Include an Advanced Motor With Electronic
Inverter to Drive a Fuel Cell's Air Compressor System, and a Fully Integrated
 Electronic Inverter that Controls a Fuel Cell's Hydrogen Compression System

    GOLDEN, Colo., Aug. 22 UQM Technologies, Inc. (Amex: UQM)
Chief Executive Officer William G. Rankin told shareholders today at the
Company's Annual Shareholder Meeting that it currently has two new fuel cell
products under development for a major fuel cell development company.  These
new products are in addition to the air compressor drive motors currently
being supplied to Ford's and DaimlerChrysler's next generation fuel cell
engine vehicles, through their Ecostar Electric Powertrain and Power
Conversion Systems joint venture with Ballard Power Systems.

    "The development of additional products for another major player in fuel
cell technology is more evidence of our growing role as a leading subsystem
component supplier to this market that is expected to experience significant
growth in coming years," said Mr. Rankin, "Fuel cells have various subsystems
that require highly efficient motors and power electronic inverters that are
small and lightweight and can meet challenging operating specifications across
a broad range of operating conditions.  These attributes are the hallmark of
our proprietary technology, and the principal reason fuel cell developers are
seeking us out to develop and supply products for fuel cell subsystems."

    One of the new products is an air compressor drive motor that is partially
integrated with the compressor and the power electronic inverter  that
controls  operation of the system at rotational speeds up to 17,000
revolutions per minute and at voltages from 180 volts to 400 volts.  The
electronic inverter includes digital signal processor (DSP) technology and
controller area network (CAN) communications protocol.

    The other product is a power electronic inverter to control the
compression of hydrogen required by a fuel cell.  The inverter contains DSP
technology and CAN communications protocol, can control rotational speeds up
to nearly 50,000 r.p.m., and operate at voltages from 100 volts to 400 volts.
The inverter is fully integrated and packaged inside the compressor housing,
is less than 5 inches in diameter by 1 5/8 inches tall, and uses sensorless
control technology.  Sensorless control eliminates the need for rotor position
feedback devices such as encoders, thereby reducing the manufacturing cost of
the product.

    Mr. Rankin continued "These products not only have substantial future
revenue potential if fuel cells are widely commercialized as many experts
believe will happen, but are expected to contribute revenue as relatively low
volume quantities of field test units are deployed now."

    UQM Technologies, Inc. is a leading developer and manufacturer of power
dense, high efficiency motors, generators, gear assemblies and power
electronic inverters 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
under-the-hood power accessories and distributed power generation
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.