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UQM Technologies completes Danfoss merger

US-based developer and manufacturer of fuel cell compressors for the commercial truck industry, UQM Technologies, has merged with Danfoss Power Solutions.

“We look forward to working with Danfoss to transform the electric vehicle market of tomorrow and play a pivotal role in improving the environment for decades to come,” said UQM Technologies President and CEO, Joseph Mitchell.

Danfoss President and CEO, Kim Fausing, said the company has a broad portfolio of solutions that play a vital role in combating climate change and air pollution.

“With this acquisition – our third in electrification – we have added a well-established North American presence which nicely complements our global footprint,” said Fausing. “We have solidified our leading position in the marine, off-highway, and on-highway markets, enabling us to stay a relevant technology partner and serve our customers wherever they are.”

Danfoss Power Solutions President, Eric Alström, said the world’s most sophisticated electric drivetrain system, the Danfoss EDITRON, is in serial production and is being used by customers across the globe in the marine, off-highway and on-highway sectors.

“With the acquisition of UQM, we increase our manufacturing capabilities, which will supplement and enhance Danfoss’ existing market-leading position in electrifying traditional heavy-duty industries and applications,” said Alström. “I’m very happy to welcome the UQM team to Danfoss and to our business.”

(Image: Danfoss President and CEO, Kim Fausing.)

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