UQM UQM Technologies Inc

UQM Technologies Receives Contract From Stewart & Stevenson for Starter/Motor/Generator to Be Used on a Concept Medium Wheeled Tactical Vehicle UQM(R) Starter/Motor/Generator Will Supply Electrical Power for the Active Suspension System, Start the Engine and Provide Propulsion Power Assist for a Concept Family of Medium Tactical Vehicle Truck Under Development by Stewart & Stevenson FREDERICK, Colo., Sept. 30 /PRNewswire-FirstCall/ -- UQM TECHNOLOGIES, INC. (AMEX:UQM), a developer of alternative energy technologies, announced today that it has received a contract from Stewart & Stevenson Services, Inc. (NYSE:SVC) for a UQM(R) starter/motor/generator that will supply electrical power for an active suspension system, start the engine and provide propulsion power assist for a concept Family of Medium Tactical Vehicle truck. The Family of Medium Tactical Vehicle (FMTV) trucks and companion trailers come in 2.5-ton and 5-ton payload capabilities and are the "platforms of choice" for combat arms and other support applications, including the Army's new High Mobility Artillery Rocket System (HIMARS), the Height Reducible Electronic Enclosure (HREE) and a new class of Load Handling System (LHS). The FMTV is the largest payload capacity U.S. Army truck transportable via C-130 aircraft with full payload. Since 1991, Stewart & Stevenson has produced more than 25,000 FMTV trucks and trailers serving America's soldiers on military bases around the globe. "We are pleased to have the opportunity to supply an additional UQM(R) system to Stewart & Stevenson for use in a second development program for the FMTV truck. In February, we announced that UQM(R) propulsion systems and generators had been selected to power a hybrid electric FMTV Tactical Wheeled Vehicle being developed for Stewart & Stevenson Services, Inc. by DRS Technologies, Inc. We believe our proprietary permanent magnet motor and generator technology is well-suited for both electrically intensive hybrid systems such as the program announced last February, and less electrically intensive power assist systems such as the application we are announcing today, and will deliver the performance that our customer expects," said William G. Rankin, President of UQM Technologies, Inc. Stewart & Stevenson, headquartered in Houston, Texas, is a billion-dollar company that manufactures a wide range of equipment that uses diesel engines as their prime mover. Continuing research and development efforts support Stewart & Stevenson's business philosophy of supplying its customers with the most reliable products possible. The more than 4,200 people employed worldwide by the company today carry with them a tradition of service, innovation, fair dealing and integrity, which began back in 1902. For more information on the company, please visit its worldwide website at http://www.ssss.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, 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.ssss.com/ Web site: http://www.uqm.com/

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