Market Overview

UQM Technologies Receives Additional $3.0 Million Fuel Cell Compressor System Orders for China Market from a Number of Key Customers Including UQM's Major Chinese OEM Customer

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  • Due to increasing market demand, UQM has secured new and follow on
    orders from several major Chinese fuel cell companies including its
    Chinese OEM customer, for scheduled delivery throughout 2018 and
    continuing into 2019.
  • The UQM fuel cell compressor modules are an integral component in the
    fuel cell technology for automotive, and light, medium and heavy-duty
    vehicle applications. In particular, the systems will be deployed in a
    number of vehicle applications including full size transit buses, port
    vehicles, shuttle vans and passenger cars through a broad range of
    power levels.
  • Receipt of these orders further confirms UQM's strategic decision to
    establish its fuel cell compressor service center and WFOE structure
    in Shanghai, China to support this growing market.

UQM Technologies, Inc. (NYSE:UQM) announced today new
fuel cell compressor system purchase orders from several new and
existing Chinese customers, including its major Chinese OEM customer.
The new purchase orders are valued at approximately $3.0 million. All
these orders represent incremental new business with shipments expected
to be delivered through 2018 into 2019.

UQM's fuel cell compressor systems (FCS) utilize the UQM permanent
magnet motor and controller, paired with an Eaton compressor. The result
of this combination is a highly efficient system for supplying air to
fuel cell stacks, powering vehicles ranging from automotive and SUVs to
medium and large commercial vehicles like buses and work trucks. These
compressor modules are a key component in hydrogen powered fuel cell
systems. UQM has seen increasing success for several years now with its
state-of-the-art fuel cell compressor system that are customized for a
number of propulsion applications for a wide variety of fuel cell stacks
and power levels.

The UQM FCS product portfolio accommodates a voltage range of between
270-800 VDC, a pressure ratio ranging between 1.0 to 2.2, and airflow
between 100 to 500 kg/h, which allows the Company to target the majority
of the market need for fuel cell hybrid electric vehicles.

As UQM CEO Joseph Mitchell stated, "When China expanded their New Energy
Vehicles regulations to include fuel cell vehicles, there was a major
shift and increase in demand in the fuel cell vehicle market. We
continue to expand our customer base and win new business and customers
with our proven high performance and cost effective fuel cell compressor
system in this growing market, especially in China, but also in Europe
and North America. Establishing our fuel cell service center in Shanghai
shows our commitment to this market. Our fuel cell compressor product
line has become a key element of our global growth strategy, and we
continue to invest in improved performance and cost effective solutions
to serve this market."

About UQM

UQM Technologies is a developer and manufacturer of power-dense,
high-efficiency electric motors, generators, power electronic
controllers and fuel cell compressors for the commercial truck, bus,
automotive, marine, and industrial markets. A major emphasis for UQM is
developing propulsion systems for electric, hybrid electric, plug-in
hybrid electric and fuel cell electric vehicles. UQM is IATF 16949 and
ISO 14001 certified and located in Longmont, Colorado. For more
information, please visit www.uqm.com.

This 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 Release and include statements regarding our
plans, beliefs or current expectations; including those plans, beliefs
and expectations of our management with respect to, among other things,
completing expected sales and orders, gaining required certifications,
new product developments, development of the Shanghai service center and
the overall fuel cell market in China, future orders to be received from
our customers, future financial and sales results, liquidity, and the
continued growth of the electric-powered vehicle industry. 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 and Form 10-Q's, which are available through our website at
www.uqm.com
or at www.sec.gov.

Source: UQM Technologies, Inc.

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