UQM Technologies CEO Eric Ridenour to Discuss 2012 Growth Prospects and Strategy at Needham Clean Technology Conference

UQM Technologies, Inc. (NYSE Amex: UQM) President and Chief Executive Officer, Eric R. Ridenour, will present at the 14^th Annual Needham Growth Conference at the New York Palace Hotel in New York City on January 12, 2012 at 9:20 a.m. EST.

"We look forward to significant growth in our revenue during calendar year 2012, and we are working to expand the number of companies using our PowerPhase propulsion systems in their all-electric and hybrid vehicle platforms,” said Ridenour. "We are now in volume production of our PowerPhase Pro electric motors and controllers on our validated production line for CODA Automotive’s all-electric passenger sedan and have recently secured additional sales with EVI to power all-electric medium-duty trucks they are building for UPS. I am looking forward to sharing my perspective on these programs and our strategy for growth with members of the investment community at the Needham Growth Conference.”

The Needham Growth Conference is one of the largest growth conferences on Wall Street, and is an opportunity for public and private institutional investors to learn about new opportunities early in the calendar year. According to Needham, close to 1,500 institutional investors and 150 venture capital professionals are expected to be in attendance.

UQM’s PowerPhase^® Pro electric propulsion system is powering the CODA all-electric sedan expected to be introduced in California this month and has been selected to power the Audi A-1 e-tron and Rolls-Royce 102EX Electric Phantom pre-production test fleet vehicles. UQM is also powering Proterra’s electric composite transit buses, and it has received an order for 100 additional PowerPhase HD Select 200 systems from Electric Vehicles International (EVI) that will drive all-electric UPS delivery vans built by EVI.

About UQM Technologies, Inc.

UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, military and industrial markets. A major emphasis for UQM is developing products for the alternative-energy technologies sector, including propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles, under-the-hood power accessories and other vehicle auxiliaries. UQM headquarters, engineering, product development center and manufacturing operation are 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 officers and directors with respect to, among other things, orders to be received under our supply agreement with CODA Automotive, Electric Vehicles International and Proterra, our ability to successfully expand our manufacturing facilities, 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-Q filed October 27, 2011, which is available through our website at www.uqm.com or at www.sec.gov.