FREDERICK, COLORADO, JUNE 22, 2005… UQM TECHNOLOGIES, INC. (AMEX: UQM), a developer of alternative energy technologies, announced today that it has received a contract from the U.S. Air Force to develop wheel motors for aircraft ground support vehicles under the Small Business Innovation Research program. Work under the $100,000 Phase I contract is expected to occur over a nine month period.

The application of wheel motors to this category of vehicle simplifies the driveline while permitting the introduction of independent two or four-wheel drive into electrically powered material handling equipment and other pieces of ground support equipment. In addition, the development of compact wheel motors will potentially allow for the introduction of electric propulsion to a wide range of ground support equipment that are currently towed by other vehicles improving their functionality, maneuverability and ease of use.

“We are pleased that the Air Force has selected us to develop compact wheel motors for this category of vehicle. Over the years we have developed a number of wheel motors for passenger vehicles and buses. We are excited about the opportunity to apply the results of this project to not only aircraft support equipment but also to a broad range of commercial vehicles of similar size and weight”, said Ron Burton, UQM Technologies, Inc. Vice President- Operations.

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.

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-K filed May 26, 2005 which is available through our website at www.uqm.com or at www.sec.gov.

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Last Update: 06/22/05