Many UPS supplies are modified sinewave output. This is a three step squarewave, repeating zero volts, +155v, zero volts, zero volts, -155 v, zero volts. All these increments are about 1/6th of a full period of sine wave.
Modified squarewave would be a more appropriate name.
As to whether it will run what you want. Assuming UPS can handle the load, the fan will likely work but have a rather loud buzz. Also any speed controller will likely not work, being ON at any setting. The fan motor may run hot.