UQM Technologies Inc. has received a $45.1 million funding commitment from the United States Department of Energy for equipment it will purchase to manufacture electric vehicle batteries and components.

The Recovery Act grant means the company will be eligible for a 50 percent reimbursement of expenses for the purchase of facilities, tooling and manufacturing equipment needed by its product.

Assets acquired with the funding would be subject to reimbursement if they exceed $5,000.

UQM will be required to provide detailed reports on how funds are deployed, as well as on the number of jobs saved or created because of the financial support.

Based in Frederick, Colorado, UQM places emphasis on developing products for the alternative energy technologies sector, including propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles