UQM Technologies Delivers Compressor Motors to Eaton Corporation for Use in Fuel Cells

FREDERICK, Colo., Dec. 15, 2003 -- UQM TECHNOLOGIES, INC. (AMEX:UQM) , a developer of alternative energy technologies, announced today that it has developed and delivered a UQM(R) compressor drive motor to Eaton Corporation , a Tier I supplier to automobile manufacturers worldwide, for use as part of the air handling system in a fuel cell. Fuel cells combine hydrogen fuel with oxygen from air to create electricity without combustion and require auxiliary systems that manage the flow of gases into the fuel cell. Because these auxiliary systems consume a portion of the electricity produced by the fuel cell, improvements in the efficiency of auxiliary systems enhances the energy efficiency of the fuel cell and the automobiles that are powered by them. The lightweight and compact UQM(R) motor operates at 24,000 revolutions per minute and is highly efficient.

"We are pleased that Eaton Corporation, an international Tier I supplier to automobile manufacturers and a world leader in the design and manufacture of compressors for a wide variety of applications, has selected a UQM(R) motor to drive the compressor they have developed for their fuel cell customer. The higher speed operation of this newly developed motor adds to the breadth of our product offerings for the emerging fuel cell market", said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc.

UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, telecommunications, medical, military 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 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 .