"During the second fiscal quarter there were several significant events that have greatly increased the Company's position as a key supplier of electric propulsion motors and generators to the automotive, truck, bus, off-road vehicle and military markets including:

-- the completion of a ten-year supply agreement with Coda Automotive to supply a 100kW electric propulsion system for their all-electric passenger sedan expected to be introduced in the California market in mid-2010. Coda hopes to achieve an annual sales run rate of 20,000 vehicles by December 2010, which if achieved, will result in annual revenue to our Company substantially greater than $50 million.

-- an award of $45.1 million from the U.S. Department of Energy under the American Recovery and Reinvestment Act of 2009 under its component manufacturing initiative for electric drive vehicles. Funding under this program is available to match qualifying expenditures for facilities, tooling and manufacturing equipment and engineering activities related to product qualification and testing

-- a marketing collaboration with BorgWarner to jointly market our electric motors and generators with BorgWarner's gearbox to automotive companies worldwide

These developments together with our recently completed round of financing have positioned us to broaden our reach in each of the markets we serve. To this point, during the second quarter we received low volume orders from twenty-one customers for our products. These low volume evaluation units represent the first step in the sales process leading to the inclusion of our propulsion systems and generators into new vehicle development programs," said William G. Rankin, UQM Technologies' President and Chief Executive Officer.