UQM Technologies Awarded $749,000 U.S. Air Force Phase II Contract to Develop Electric Wheel Motors for Aircraft Ground Support Equipment

July 12, 2006

FREDERICK, Colo., July 11 /PRNewswire-FirstCall/ — UQM TECHNOLOGIES, INC. (Amex: UQM), a developer of alternative energy technologies, announced today that it has been awarded a $749,000 Phase II contract from the U.S. Air Force to develop electric wheel motors for aircraft ground support vehicles under the Small Business Innovation Research program. Work under the Phase II contract is expected to occur over a two year period.

The application of electric wheel motors to this category of vehicle has a number of significant advantages. The conventional driveline including the transmission and differential can be eliminated resulting in less complexity (gearing) and improved efficiency, which equates to greater run time per charge. Since each wheel is independently powered and controlled, the vehicle can have better traction through two or four-wheel drive, and most importantly, improved maneuverability and precision control which is critical in the close confines of aircraft on the tarmac. In addition, the development of compact electric wheel motors will potentially allow for their introduction on a wide range of commercial ground support and material handling equipment including forklift trucks and other warehouse vehicles. This contract is a follow-on to the Phase I contract awarded last summer, and provides for the development and delivery of an all-electric aircraft material handling vehicle. The vehicle will be tested at Robins Air Force Base under the management of the Advanced Power Technology Office (APTO) of the 542nd Combat Sustainment Wing.”We are pleased that the Air Force has selected us to further develop and integrate our electric propulsion systems in this category of vehicle. 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, 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.

Source: Yahoo


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