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August 15, 2005

UQM Technologies Awarded Contract to Develop Advanced Traction Motor for the U.S. Department of Energy's FreedomCAR Program

Source: UQM Technologies

FREDERICK, Colo., Aug. 15 /PRNewswire/ -- UQM TECHNOLOGIES, INC.
(Amex: UQM), a developer of alternative energy technologies, announced today
that it has been awarded a contract by UT-Battelle, LLC, which operates the
Oak Ridge National Laboratory (ORNL), to develop an advanced traction motor
for the U.S. Department of Energy's (DOE) FreedomCAR and Vehicle Technologies
Program.
This research supports the goals of the FreedomCAR and Fuel Partnership,
an industry/government research initiative focused on collaborative, pre-
competitive, high-risk research to develop the component technologies
necessary to provide a full range of affordable cars and light trucks, and the
fuel infrastructure to support them, that will free the nation's personal
transportation system from petroleum dependence and from harmful vehicle
emissions, without sacrificing freedom of mobility and freedom of vehicle
choice. The goal of the FreedomCAR and Fuel Partnership is fundamental and
dramatic -- the development of emission- and petroleum-free cars and light
trucks. The Partnership is closely linked to the President's $1.7 billion
initiative announced in January 2003 which addresses the key technology and
infrastructure barriers of hydrogen fuel cell vehicles.
The $293,000 Phase I development effort will be conducted over a nine
month period with the DOE providing funding of $146,500 or 50 percent. The
development effort will be focused on permanent magnet traction motors that
are high performing and highly energy efficient using new and novel materials
and configurations to reduce manufacturing costs.
"We are proud to have been selected to develop an advanced traction motor
in response to the Request for Proposals issued by ORNL. We believe recent
advancements in the performance and efficiency of our propulsion systems,
together with the additional development activities envisioned under this
program, will allow us to develop a traction motor that delivers expected
performance within manufacturing cost targets," said William G. Rankin, UQM
Technologies, Inc. President and Chief Executive Officer.

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
http://www.uqm.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 our officers and directors with respect to, among other things
the development of markets for our products; the adequacy of our cash balances
and liquidity to meet future operating needs, and our ability to issue equity
or debt securities; and the effect of legal actions and claims that we are
involved in. Important Risk Factors that could cause actual results to differ
from those contained in the forward-looking statements are contained in our
Form 10-Q filed August 3, 2005 which is available through our website at
http://www.uqm.com or at http://www.sec.gov.