Danfoss has acquired all common shares of UQM Technologies, a developer of alternative energy technologies. The company says the acquisition adds complementary technology to the current Danfoss product range, including electric solutions for serving global markets and supporting customer needs.
With UQM, Danfoss Editron, Danfoss Drives and Danfoss Silicon Power, Danfoss now has a strong line-up of electrification solutions for 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,” Kim Fausing, president & CEO of Danfoss, said in a press release.