Feb. 8, 2007 — UQM Technologies and Altair Nanotechnologies jointly announced that they have formed a strategic alliance to pursue opportunities for their complementary proprietary technologies in advanced transportation and other high potential markets. The alliance pairs UQM’s electric motor, power generator and power electronic products with Altairnano’s NanoSafe&trade battery packs.

The companies state that by collaborating on product development opportunities, both companies can potentially accelerate the commercialization of their proprietary technologies as well as develop optimized solutions that require motive power, on-board energy storage and power generation.

“UQM has a reputation for developing an array of innovative and high performance products for advanced transportation applications,” said Alan J. Gotcher Ph.D., Altairnano’s President and Chief Executive Officer. “This strategic alliance will allow us to offer comprehensive, integrated products and electric power solutions to a wide range of customers and markets.”

“We are excited to be able to collaborate with Altairnano on product opportunities in the markets we are pursuing,” said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc. “We believe the performance attributes of Altairnano’s NanoSafeTM battery packs can potentially add significant value to vehicles under development for our current and future customers.”

UQM and Altairnano are currently collaborating on the development and commercial launch of an all-electric sport utility truck (SUT) for Phoenix Motorcars, Inc.