UQM Technologies and Altair Nanotechnologies Form Strategic Alliance

FREDERICK, Colo. & RENO, Nev.--UQM TECHNOLOGIES, INC. (AMEX: UQM) AND ALTAIR NANOTECHNOLOGIES, INC. jointly announced today that they have formed a strategic alliance to collaboratively pursue opportunities for their complementary proprietary technologies in advanced transportation and other high potential markets. The alliance pairs UQM’s electric motor, power generator and power electronic products that are small, lightweight, highly efficient, and offer high torque and high speed in a single package, with Altairnano’s NanoSafe™ battery packs that are safe, possess rapid charge and discharge rates, have exceptional performance at high and low temperature extremes and exhibit long cycle life.

The transportation market is expected to experience rapid technological change resulting in further electrification of vehicles. As a result, a wide array of possible product opportunities are expected to develop in electric transportation and other related markets, including products for electric propulsion, power generation, power management and conversion and on-board energy storage. By collaborating on product development opportunities, both companies can potentially accelerate the commercialization of their proprietary technologies as well as develop optimized solutions that require motive power, on-board energy storage and power generation.

“UQM has a reputation for developing an array of innovative and high performance products for advanced transportation applications,” said Alan J. Gotcher Ph.D., Altairnano’s President and Chief Executive Officer. “This strategic alliance will allow us to offer comprehensive, integrated products and electric power solutions to a wide range of customers and markets.”

“We are excited to be able to collaborate with Altairnano on product opportunities in the markets we are pursuing,” said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc. “We believe the performance attributes of Altairnano’s NanoSafe™ battery packs can potentially add significant value to vehicles under development for our current and future customers.”

UQM and Altairnano are currently collaborating on the development and commercial launch of an all-electric sport utility truck (SUT) for Phoenix Motorcars, Inc., which is being integrated and tested by Boshart Engineering. The Phoenix all-electric SUT is powered by a 100 kW UQM® electric propulsion system which produces over 400 ft-lbs of torque, accelerates the vehicle from 0 to 60 miles per hour in less than 10 seconds, has a top speed of 100 miles per hour and operates at peak system efficiencies of over 94%. The vehicle’s 35kWh NanoSafe™ battery pack can be recharged in less than 10 minutes with an appropriate rapid charging station and in a typical fleet duty cycle the vehicle can travel up to 135 miles between charges. The SUT is expected to qualify as a Type III ZEV in California.

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, plug-in hybrid electric and fuel cell electric vehicles, 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.

Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. A seasoned management team complements Altairnano’s leading edge scientists with substantial experience in commercializing innovative, disruptive technologies. The company has developed nanomaterials for the alternative energy, life sciences and performance materials markets based on its proprietary manufacturing process. This process also provides the foundation for its innovative AHP pigment process. For more information visit: www.altairnano.com.

This Release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. These statements appear in a number of places in this Release and include statements regarding our plans, beliefs or current expectations, including those plans, beliefs and expectations of the officers and directors of UQM Technologies, Inc. and Altair Nanotechnologies, Inc. with respect to, among other things the development of markets for their products. These risks and uncertainties include, without limitation, the risks that the electric sport utility truck (SUT) being marketed by Phoenix Motorcars, Inc. will not qualify for Type III ZEV credits in California, that products expected to be developed will not be developed, or will not achieve significant market penetration for various reasons, or the failure of the markets to develop in a timely manner or at all. Additional important Risk Factors that could cause actual results to differ from those contained in the forward-looking statements are contained in the most recent Quarterly Reports on Form 10-Q of Altair Nanotechnologies, Inc. and UQM Technologies, Inc., which are available at www.sec.gov.