UQM UQM Technologies Inc

UQM Technologies Joins U.S. Department of Energy Sponsored Truck Hybrid System Development Program With Eaton Corporation FREDERICK, Colo., July 27 /PRNewswire-FirstCall/ -- UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy technologies, announced today that it has been awarded a contract from Eaton Corporation (NYSE:ETN) under a U.S. Department of Energy contract with Eaton's Truck Business to develop hybrid propulsion components for trucks and other heavy duty vehicles. Eaton is partnered with International Truck & Engine Corporation to develop a highly integrated, next generation heavy hybrid propulsion system. UQM's contract is for the development and application of a UQM(R) motor and controller in an International truck with an Eaton hybrid electric propulsion system. Eaton and International's DOE program provides matching funds for research and development aimed at doubling the fuel efficiency of today's conventional trucks, while maintaining reliability and durability of components and meeting future federal emissions standards for 2007 and beyond. Most heavy vehicles today have diesel engines. Hybrid propulsion systems generally consist of a smaller internal combustion engine augmented by an electric drive, an energy storage system and regenerative braking or other energy recapture systems. Reliability demands are crucial, as heavy vehicles typically can be driven as much as one million miles over a ten-year period. Heavy vehicles include trucks of various types and uses, buses and numerous off-highway vehicles, including construction, farming and mining equipment. The project is part of the 21st Century Truck Partnership, managed by the Department of Energy's Office of FreedomCar and Vehicle Technologies. Information on this and other heavy vehicle technology programs can be found at http://www.trucks.doe.gov/ and http://www.ctts.nrel.gov/heavyhybrids/. "We are pleased that Eaton Corporation has selected our company to assist them with the development and application of our products for this advanced vehicle development program. Our extensive experience in the development and application of high performance and highly efficient electric propulsion systems for a wide range of vehicle platforms will contribute to the achievement of program goals on this exciting program," said William G. Rankin, UQM Technologies, Inc. President and Chief Executive Officer. Eaton's Truck Components operations, based in Galesburg, Mich., is a pioneer in hybrid systems for commercial vehicles. Eaton Corporation is a diversified industrial manufacturer with 2003 sales of $8.1 billion. Eaton is a global leader in fluid power systems and services for industrial, mobile and aircraft equipment; electrical systems and components for power quality, distribution and control; automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety; and intelligent truck drivetrain systems for safety and fuel economy. Eaton has 55,000 employees and sells products to customers in more than 100 countries. For more information, visit http://www.eaton.com/. International Truck and Engine Corporation is the operating company of Navistar International Corporation. The company produces International(R) brand commercial trucks, mid-range diesel engines and IC brand school buses and is a private label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. With the broadest distribution network in North America, the company also provides financing for customers and dealers. Additionally, through a joint venture with Ford Motor Company, the company builds medium commercial trucks and sells truck and diesel engine service parts. Additional information is available at http://www.internationaldelivers.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, 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. 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.eaton.com/ Web site: http://www.trucks.doe.gov/ Web site: http://www.ctts.nrel.gov/heavyhybrids Web site: http://www.internationaldelivers.com/ Web site: http://www.uqm.com/

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