UQM UQM Technologies Inc

UQM Technologies Receives Contract From Denver RTD to Retrofit One Hybrid Electric Mall Shuttle Bus UQM(R) Generator and Motor Controllers to Be Evaluated as Replacement Components for the Power Generation Requirements and Control of Existing Propulsion Motors on Denver RTD's 45-Foot Hybrid Electric Shuttle Bus FREDERICK, Colo., Sept. 23 /PRNewswire-FirstCall/ -- UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy technologies, announced today that it has received a contract from the Denver Regional Transportation District ("Denver RTD") for one 35 kW UQM(R) generator and two power electronic motor controllers to control the operation of the electric propulsion motors currently installed in a 45-foot hybrid electric mall shuttle bus. Denver RTD introduced its hybrid electric fleet of MallRide shuttles in 2000, the first large-scale deployment of hybrid electric buses for transit use in the United States. A total of 36 MallRide shuttles operate on the 16th Street Mall in downtown Denver providing a free ride for passengers across the 1.3-mile long mall connecting Denver Union Station and RTD Civic Center Station for express and regional RTD services. The hybrid electric MallRide shuttle buses are powered by a compressed natural gas fueled 2.5 liter Ford industrial engine that operates at 2,200 r.p.m. to generate electricity to recharge the bank of batteries that power the shuttle. The electric propulsion system features regenerative braking, a process in which kinetic energy is converted to electrical energy through the braking process and this electrical energy is also used to recharge the battery pack. Each 45-foot MallRide shuttle bus features a low floor design (14 inches above street level) that makes it easier for passengers to step on and off the bus and can transport up to 116 passengers. "We are pleased that Denver RTD is evaluating UQM(R) generators and motor controllers for use in their hybrid electric Mall Ride shuttle fleet. Our equipment is well-suited for this demanding application and we are looking forward to demonstrating the performance and durability advantages of our systems," said William G. Rankin, President of UQM Technologies, Inc. Denver Regional Transportation District is a public agency created in 1969 to operate a public transportation system serving the seven county greater Denver metropolitan area. With an annual operating budget of $305 million, Denver RTD operates a total of 1,072 buses in its 2,326 square mile service area and a light-rail system covering 15.8 miles, boarding over 265,000 passengers weekly. 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-Q for the quarter ended June 30, 2004 and is available through our website at http://www.uqm.com/ or at http://www.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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