Press Release 07-03
   
UQM Technologies, Inc.
 7501 Miller Drive
Frederick, CO 80530
Contact:
John Baldiserra
BPC Financial Marketing
(800) 368-1217
    or
Donald A. French, Treasurer
(303) 278-2002
  
UQM Technologies Receives Order From Denver RTD for Generators and Motor Controllers to Retrofit an Additional Ten Hybrid Electric Mall Shuttle Buses
 
 

FREDERICK, COLORADO, JUNE 1, 2006… UQM TECHNOLOGIES, INC. (AMEX: UQM), a developer of alternative energy technologies, announced today that it has received an order from the Denver Regional Transportation District (“Denver RTD”) for UQMÒ generators and motor controllers to retrofit an additional ten hybrid electric mall shuttle buses.  Each 45 foot hybrid electric mall shuttle bus will be retrofitted with a 35 kW UQM® generator and two UQM® power electronic motor controllers to control the operation of the electric propulsion motors currently installed in each bus.  Last summer the Company received an order for seven systems that were delivered during the last eight months.
Denver RTD introduced its hybrid electric fleet of MallRide shuttles in 2000, the first large-scale deployment of hybrid electric buses for transit use in the United States.  A total of 36 MallRide shuttles operate on the 16th Street Mall in downtown Denver providing a free ride for passengers across the 1.3-mile long mall, which connects with the light rail, express and regional Denver RTD services offered at Denver Union Station, Market Street Station and Civic Center Station.
The hybrid electric MallRide shuttle buses are powered by a compressed natural gas fueled 2.5 liter Ford industrial engine that operates at 2,200 r.p.m. and will turn the UQM® generator to produce electricity to recharge the bank of batteries that power the shuttle.  The UQM® motor controllers feature regenerative braking, a process in which kinetic energy is converted to electrical energy through the braking process and this electrical energy is also used to recharge the battery pack.  Each 45 foot MallRide shuttle bus features a low floor design (14 inches above street level) that makes it easier for passengers to step on and off the bus and can transport up to 116 passengers. 
“We are pleased that Denver RTD placed an order for additional UQM® generators and motor controllers for use in their hybrid electric MallRide shuttle fleet.  Previously delivered systems have been installed and are operational in daily service on the 16th Street Mall and this order will allow additional vehicles to be retro-fitted as Denver RTD continues with their plan to retrofit this fleet with reliable high performance UQM® equipment,” said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc.

Denver RTD is a public agency created in 1969 to operate a public transportation system serving the eight county greater Denver metropolitan area.  With an annual operating budget of $342 million, Denver RTD operates a total of 1,071 buses in its 2,327 square mile service area and a light-rail system covering 15.8 miles, boarding over 290,000 passengers on an average weekday.

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-Q filed January 26, 2006 which is available through our website at www.uqm.com or at www.sec.gov.
 

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Last Update: 06/01 /06