UQM Technologies Receives Propulsion System Order From Phoenix Motorcars for Electric Pickup Truck Program

July 6, 2006

FREDERICK, Colo., July 6 /PRNewswire-FirstCall/ — UQM TECHNOLOGIES, INC. (Amex: UQM), a developer of alternative energy technologies, announced today that it has received an order from Phoenix Motorcars, Inc. of Ojai, California for a UQM® PowerPhase 100 propulsion system. The system is being evaluated for use in a freeway-speed all electric pickup truck program currently being developed for the fleet market by Phoenix.

The UQM® PowerPhase 100 propulsion system delivers 550 Newton meters of torque and 100 Kilowatts of peak power in a lightweight, compact and energy efficient package that is ideally suited for battery electric vehicles where the system’s high energy efficiency can improve vehicle range.”The integration of an optimized electric drivetrain from UQM Technologies with nano-lithium battery technology from Altair Nanotechnologies, Inc. (Nasdaq: ALTINews) could provide the impetus to rejuvenate and realize the promise of the electric vehicle vision,” commented Daniel Riegert, Chairman of Phoenix Motorcars. “We are preparing for the manufacture and distribution of several thousand vehicles over the next few years.”

“We are excited that Phoenix Motorcars is evaluating our PowerPhase 100 propulsion system for use in their all electric pickup truck program,” said William G. Rankin, UQM Technologies’ President and Chief Executive Officer. “We expect that the pairing of our propulsion system with Altairnano’s nano-lithium batteries will provide outstanding performance and range. Through the implementation of these industry leading technologies, Phoenix is rapidly establishing themselves as a leader in the introduction of commercially viable, high performance, all electric freeway-speed vehicles.”

Phoenix Motorcars, headquartered in Ojai, California, has been an industry leader in the development of battery electric freeway speed vehicles since 2001. The mission of Phoenix Motorcars is to manufacture zero emission vehicles to reduce the toxic emissions of the largest contributor to air pollution, personal automobiles. For additional information on the Company, please visit its worldwide website at www.phoenixmotorcars.com.

Altair Nanotechnologies, Inc. is an innovator and supplier of advanced ceramic nanomaterials. With a skilled team of scientists in its 100,000 square foot facility who, coupled in collaborative ventures with industry partners and leading academic centers, have developed a unique portfolio of intellectual property and novel products. These researchers are complemented by a seasoned management team with substantial experience in commercializing innovative, disruptive technologies.

Altairnano focuses on nanotechnology applications to enable new high-growth markets. In alternative energy Altairnano is pioneering new battery materials and systems. The company is applying nanotechnology to the development of drug candidates for humans and companion animals, coatings materials for implants, and materials for dental applications. Its high performance nanomaterials have applications in paints, coatings, and the treatment of water and air. The Altairnano Hydrochloride Pigment process, the first new patented pigment process in 50 years, is an environmentally friendly method for manufacturing white pigment used in paints, paper and plastic. For additional information on the Company, please visit its worldwide website at www.altairnano.com.

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, 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 and the adequacy of our cash balances and liquidity to meet future operating needs. 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 June 13, 2006, which is available through our website at www.uqm.com or at www.sec.gov.


Source: UQM Technologies, Inc.

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