Reported by Staff

FREDERICK - UQM TECHNOLOGIES, INC. has acquired a 129,304-square-foot facility on a 30-acre site in Longmont to support its expected growth in manufacturing operations. The facility, which includes approximately 30,000 square feet of office space, will house the company’s engineering, vehicle integration and headquarters staff in addition to the company’s high volume motor and electronic manufacturing operations.

Roughly 15 acres of the site are available for future facility expansion. The purchase price of the facility was $7,585,000, of which half is expected to be funded from the Company’s $45 million stimulus grant from the U.S. Department of Energy. The Company expects to sell its existing facility once its relocation to the new facility is completed.

“This larger facility is ideally suited for the planned expansion of our high volume manufacturing operations in support of Coda Automotive’s all-electric passenger vehicle program and future growth arising from the expected launch of additional production programs. The proximity of the new facility to our existing 28,000-square-foot facility, just one mile north, will allow for a relatively efficient and low-cost relocation of our existing operating groups over the next several months,” said William G. Rankin, UQM Technologies’ President and Chief Executive Officer.

UQM Technologies, Inc. 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 of the company 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 and distributed power generation applications.