UQM Technologies Wins Contract from Major Fuel Cell System Supplier in China for Fuel Cell Compressor Systems

LONGMONT, Colo.–(BUSINESS WIRE)–UQM Technologies, Inc. (NYSE American: UQM) (“UQM” or the “Company”),
a developer of alternative energy technologies, today announced it has
won an order from a major fuel cell system supplier in China for UQM’s
Fuel Cell Compressor System (“FCS”). This combined electric motor,
inverter and compressor module was selected as a high-performance,
cost-effective solution by this new production customer after having
purchased several FCS units earlier in 2018 for demonstration purposes.
The new contract will cover deliveries in 2019, and the initial order
value is approximately $1.8 million. Additional details, including the
name of the customer, specific vehicle program, and launch timing, were
not disclosed for competitive reasons.

“We believe our fuel cell compressor system is the premier solution –
from both a performance and cost perspective – in the market today,”
said Joe Mitchell, UQM Technologies’ President and Chief Executive
Officer. “At present, more than 50% of the operating fuel cell vehicles
in China are estimated to be equipped with this company’s fuel cell
engines, so we are very pleased that they have the confidence in UQM for
this major contract – having worked closely with us earlier in the year.
We look forward to partnering with them on additional orders going
forward to support their growth and address the demand in this expanding
market.”

The UQM FCS has been fully customized for fuel cell applications
covering a wide range of applications, supporting fuel cell stacks from
30kW-150kW and 270-800 VDC voltage range, a pressure ratio ranging from
1 to 2.2, and airflow from 100 to 500 kg/h. FCS units are already
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.

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 TS 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,
gaining required certifications, new product developments, future orders
to be received from our customers, sales of products from inventory,
future financial 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.

Contacts

UQM Investor Relations
Chris Witty
646-438-9385
cwitty@darrowir.com
or
UQM
Technologies, Inc.
David Rosenthal
303-682-4900
investor@uqm.com