UQM Technologies Showcases Two Hybrid Electric Vehicles at Annual Shareholders Meeting

UQM(R) Powered Concept Hybrid Electric Tractor Developed for Deere & Company and a Hybrid Electric Shuttle Bus Being Retrofitted for the U.S. Air Force on Display; CEO Bill Rankin Emphasizes that UQM(R) Systems are Slated for Use in Land, Sea and Air Applications

GOLDEN, Colo., Aug. 19 -- UQM TECHNOLOGIES, INC. (AMEX:UQM) Chief Executive Officer, William G. Rankin, told shareholders today at the Company's Annual Meeting of Shareholders that UQM(R) propulsion systems are slated for use in land, sea and air applications. The Company showcased at the meeting two such land applications; a concept hybrid electric 7000 series agricultural tractor developed for Deere & Company and a hybrid electric shuttle bus being retrofitted for the U.S. Air Force, both powered by UQM(R) propulsion motors, generators and power electronic controllers.

Mr. Rankin told shareholders that in addition to the on-road and off-road hybrid electric land vehicles on display, the Company had recently began work on a U.S. Navy sponsored program to evaluate the application of hybrid electric propulsion to small military boats and that the Company was gearing up to begin deliveries of a 1.1 HP UQM(R) motor, developed for Keith Products, Inc., that will power the condenser blower in the air conditioning system for a military aircraft currently in production. Mr. Rankin noted that work on hybrid electric propulsion systems for the military was becoming a larger part of the Company's business, citing contract awards received by the Company including:

   *  Propulsion system supplier for the Unmanned Ground Combat Vehicle
      being developed for DARPA by Carnegie Mellon University's National
      Robotics Engineering Consortium, Boeing and PEI Electronics, a unit of
      Integrated Defense Technologies.

   *  Propulsion system lead for the Gladiator Tactical Unmanned Ground
      Vehicle being developed for the Office of Naval Research by Carnegie
      Mellon.

   *  Vehicle developer and integrator of an optimized configuration of
      currently available advanced technologies into an all electric
      one-half ton pick-up truck for the U.S. Air Force.

Mr. Rankin also noted that the Company has supplied UQM(R) propulsion systems and generators for six hybrid electric HMMWVs, three of which have completed field testing, and Mr. Rankin stated he was optimistic that UQM(R) propulsion systems would be selected to power the hybrid electric HMMWVs expected to be delivered under an anticipated production program.

At the meeting, shareholders elected the nominated slate of Directors and ratified the continued appointment of KPMG LLP as the Company's independent auditors.

UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, medical, military and industrial markets. A major emphasis of the Company is developing products for the alternative energy technologies sector including power systems for battery hybrid and fuel cell electric vehicles, 42 volt under-the-hood power accessories and other vehicle auxiliaries and distributed power generation applications. The Company's headquarters, engineering and product development center and motor manufacturing operation are located in Frederick, Colorado. Its electronic products manufacturing facility is located in St. Charles, Missouri. For more information on the Company, please visit its worldwide website at www.uqm.com .