Danfoss Completes the Acquisition of UQM Technologies

  Enquiry / contact me

The addition of the North American footprint for electrification gives Danfoss the total package of electric solutions for serving its global markets and fully support its customers’ needs

Danfoss Completes the Acquisition of UQM Technologies
Danfoss Completes the Acquisition of UQM Technologies

Danfoss has successfully accomplished the acquisition of all outstanding common shares of UQM Technologies, a developer of alternative energy technologies. UQM is a leading expert and the technology leader in motors and inverters in the power range of up to 250kW. With the acquisition, Danfoss adds an important and complementary technology to its current product range, with inverter and motor solutions up to 6MW of power. The acquisition will give Danfoss the total package of electric solutions for serving its global markets and fully support its customers’ needs, regardless of the chosen applications. It will also enable further growth in the markets the company serves and additional growth in the on-highway market for buses and trucks.

Strong line of electrification solutions

With UQM, Danfoss Editron, Danfoss Drives and Danfoss Silicon Power, Danfoss now has a strong line-up of electrification solutions for the marine, off- and on-highway and oil and gas markets. “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. With the strong North American presence, we cement our leading position in the marine and off-highway, and now also in the on-highway markets and it enables us to stay a relevant technology partner and serve our customers where they are,” says Kim Fausing, President & CEO, Danfoss. 

Portfolio integrated into the Power Solutions division

UQM is headquartered in Longmont, Colorado, USA and will become part of the Danfoss Power Solutions segment. “Danfoss EDITRON, the world’s most sophisticated electric drivetrain system, is already in serial production and being used by customers around the world 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. I’m very happy to welcome the UQM team to Danfoss and to our business,” says Eric Alström, President, Danfoss Power Solutions.    
  
“The next chapter for UQM is about to begin, but we couldn’t have made it here without the loyal longstanding support of our customers, employees and shareholders. We are looking forward to transforming the electric vehicle market and play a pivotal role in improving the environment for decades to come,” says Joe Mitchell, UQM Technologies’ President and Chief Executive Officer.
 

Posted on August 12, 2019 - (1343 views)
Related articles
''Agility is the Key of IIoT Innovation,'' Advantech Says at Global IIoT Summit
PAC RADAR Acknowledges Eurotech as Best in Class in “IoT platforms based on Open Source”
Three New Polycarbonate Materials for Industrial 3D Printer
1.2 kW Onboard AC/DC Power Module
Factory Intelligence System
Designing Optical Systems for Space Projects
Compact Rugged Head-Up Display Camera Lens
Taking Close-up Pictures in High Radiation Environments
Compact Barometric Bluetooth Wireless Pressure Sensor
Mouser's Digital AI Conference is now Available On-Demand
Compact Barometric Bluetooth Wireless Pressure Sensor
Laser Distance Sensors with Industrial Ethernet Interfaces
Haydon and Mobidiag in the fight against the COVID-19 virus
Laser Displacement Sensors for Advanced Automation
Hydraulic Systems are the Heartbeat of Industry: Unlock their Potential
Accurate & Flexible Force Sensors, Even in Low Measuring Ranges
Wireless Kits - Wi-Fi5/BT5.0 and LTE Cat.16
AI Platform based on Nvidia Quadro GPUs
Eco-friendly Augmented RFID Solution
First Rewireable IEC Appliance Inlet with V-Lock
Mouser's Digital AI Conference is now Available On-Demand
Class '0' Certified Oil-free Compressed Air Portfolio
Laser Distance Sensors with Industrial Ethernet Interfaces
1 to 3 Watts "Low-cost" DC-DC Converters
THT Assembly with Robots Boosts Automation instead of Manual Labor
AI Platform based on Nvidia Quadro GPUs
EtherCAT-based Highly Dynamic Multi-axis Servo System
Subaru Selects Xilinx to Power New-generation EyeSight System
Polypropylene-like Material for 3D Printers
Post-Corona Recovery: High demand for “Robotics Skills”