© UQM Electronics Production | August 26, 2019
Danfoss expands NA footprint, capabilities
Danfoss is closing on the acquisition of all outstanding common shares of UQM Technologies Inc., a developer of alternative energy technologies including motors and inverters in the power range of up to 250 kW.
The purchase will expand Danfoss’s current product range of inverters and motor solutions up to 6 MW of power, allowing the company to grow in the on-highway bus and truck market. UQM joins the company’s portfolio of Danfoss Editron, Danfoss Drives and Danfoss Silicon Power, offering electrification solutions for the marine, off- and on-highway, and oil and gas markets, a press release said. Danfoss President and CEO Kim Fausing said, “Already today we have a very broad portfolio of solutions, which plays a vital role in combating climate change and air pollution. With this acquisition, our third within electrification, we have added a well-established North American presence within electrification, which nicely complements our global footprint.” UQM, headquartered in Longmont, Colorado, will join the Danfoss Power Solutions segment. Danfoss was formed in Denmark in 1933 and employs approximately 28,000 people around the world. The company marked 60 years in North America in 2018, with offices in the U.S. and Canada.