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Thursday, August 06, 2009

Green Car News - UQM Technologies Awarded $45.1 Million Grant from the U.S. Department of Energy

Green Car News - UQM Technologies Awarded $45.1 Million Grant from the U.S. Department of Energy to Accelerate the Deployment of the Next Generation of Electric Vehicles

Award is One of 48 Advanced Battery and Electric Drive Projects Totaling $2.4 Billion Announced by President Obama Today

FREDERICK, Colo.--August 5 2009 -UQM TECHNOLOGIES, INC. (NYSE Amex: UQM), a developer of alternative energy technologies, announced today that it has been selected by the U.S. Department of Energy to receive a $45.1 million award under the American Recovery and Reinvestment Act to accelerate the manufacturing and deployment of electric vehicles, batteries and components in America. The award provides for a 50 percent cost-share by the company raising the total value of the project to $90.2 million.

UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, 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, plug-in 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-Q filed July 30, 2009, which is available through our website at www.uqm.com or at www.sec.gov.

Contact:UQM Technologies, Inc.Donald A. French, 303-278-2002orBPC Financial MarketingJohn Baldiserra, 800-368-1217






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