UQM Technologies Receives IQ Award Honoring Innovation for Its Hybrid Electric Starter/Motor/Generator

FREDERICK, Colo., Sept. 15 -- UQM TECHNOLOGIES, INC. (AMEX:UQM) , a developer of alternative energy technologies, announced today that it has received the 2005 IQ Award in transportation for its hybrid electric starter/motor/generator product. The IQ or Innovation Quotient Awards, honor innovative Northern Colorado companies and inventors. Finalists were selected by an independent panel of judges, which made selections in seven business categories: Biosciences, Energy, Environment, Hardware and Technology, Health and Consumer Products, Software and Transportation. The IQ Awards were presented at Bixpo 2005, as part of the Speaker Series program.

Each competing company's products and services were evaluated based on three principle criteria: Whether the idea could lead to a sustainable business; the product or service must be in the marketplace or in a testing or prototype situation; must be submitted by companies or inventors based in Northern Colorado. "These products reflect the nature of the innovation that's prevalent in Northern Colorado," said Chris Wood, co-publisher of the Northern Colorado Business Report, which produces the IQ Awards. "From consumer goods to railroad cars to biotechnology, companies in this region are involved in groundbreaking research and development that leads to first-rate products."

Commenting on the award, William G. Rankin, UQM Technologies' President and Chief Executive Officer said, "We are honored to be selected as the transportation winner in this years' IQ competition. Our starter/motor/generator product embodies a number of electro-magnetic, power electronic and control software advancements that we believe will lead to applications in a variety of on-road, off-road and military vehicles."

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 propulsion 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. For more information on the Company, please visit its worldwide website at www.uqm.com.