UQM UQM Technologies Inc

UQM Technologies Receives Department of Energy Contract to Develop a 5 Kilowatt Modular Inverter FREDERICK, Colo., July 21 /PRNewswire-FirstCall/ -- UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy technologies, announced today that it has received a contract from the U.S. Department of Energy to develop a 5 kW modular inverter under the Small Business Innovation Research Program. Power electronic inverters are used to convert direct current (DC) output of power generation equipment such as reciprocating engine generators, wind turbines, solar panels, microturbines and fuel cells to 110/220 volt alternating current (AC). Many household and commercial products run on 110/220 volt AC currently delivered from the power transmission grid to electrical outlets in homes and commercial buildings. Numerous commercial and industrial vehicles, such as ambulances and trouble-trucks currently have inverters onboard to power accessories and equipment and several on-road, off-road and military vehicle manufacturers plan to offer AC power availability onboard certain vehicle models to power a variety of accessories. "We are pleased that the Department of Energy has selected us to develop a household size inverter for the distributed power generation market. Currently available electronic inverters are difficult to install and use, lack plug and play capability, are less efficient and bulky and have operating limitations in those applications where input voltages change across a broad range," said Ron Burton, UQM Technologies' Vice President of Operations. "We expect to develop a high frequency product capable of accommodating voltage inputs of 36 volts to 360 volts which is small, low cost and highly efficient." 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 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. 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 for the fiscal year ended March 31, 2004 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/

Copyright