UQM UQM Technologies Inc

UQM Technologies Appoints Ronald Burton Vice President of Operations FREDERICK, Colo., March 24 /PRNewswire-FirstCall/ -- UQM TECHNOLOGIES, INC. , a developer of alternative energy technologies, announced today that it has appointed Ronald Burton tothe newly created position of Vice President of Operations with responsibility for the company's engineering and manufacturing operations. Mr. Burton will report to President and Chief Executive Officer, William G. Rankin. "We are pleased that Ron has joined our Company in the capacity of Vice President of Operations where he will oversee and direct our engineering and manufacturing activities. With over 15 years experience as an executive in the motor industry, Ron is exceptionally qualified to lead our commercialization activities in both existing industrial markets and the emerging markets for hybrid electric propulsion and auxiliary system products. We believe Ron's extensive experience in the engineering and high volume production of motorsfor the automotive industry will prove invaluable in accelerating the commercialization of our proprietary technology," said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc. Prior to joining the Company, Mr. Burton served as Vice President of Sales and Engineering for Stature Electric, Inc., a motor supplier to vehicle manufacturers and industrial markets and for the 12 years prior to that, Mr. Burton served as Director of Engineering and Operations for Globe Motor Company, a high volume motor supplier to the automotive, industrial and military markets, where Mr. Burton was responsible for the management of three manufacturing facilities totaling over 250,000 square feet with approximately 1,000 employees. Mr. Burton began his career with the Electrocraft Motion Control Group of Robbins & Meyers in 1976. Mr. Burton holds a bachelors degree in electrical engineering from Morehead University. UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, telecommunications, medical, military and industrial markets. A major emphasis of the company is developing products for the alternative energy technologies sector including power 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. Its electronic products manufacturing facility is located in St. Charles, Missouri. For more information on the company, please visit its worldwide website at http://www.uqm.com/ . This press 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 press 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 the Company's cash balances and liquidity to meet future operating needs, and the ability of the Company to issue equity or debt securities; the expected amount of future losses from continuing operations; and the effect of legal actions and claims that the Company is 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 for the quarter ended December 31, 2003 and is available through our website at uqm.com or at sec.gov. DATASOURCE: UQM Technologies, Inc. CONTACT: Donald A. French, Treasurer of UQM Technologies, Inc., +1-303-278-2002 Web site: http://www.uqm.com/

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