UQM Expands into Fuel Cell Business with Acquisition

UQM Technologies Inc., a manufacturer of electrical motors, generators and hybrid systems for passenger and commercial vehicles, has announced that it will expand directly into the fuel cell industry by taking over the fuel cell compressor module business from Roush Performance Products.

These compressor modules are an integral component of hydrogen-powered fuel cell vehicles. UQM will now manufacture the complete compressor modules for Roush's current customer base, as well as for new customers.

UQM had previously built components for the modules, and Roush approached UQM to be the ongoing product supplier after making a strategic decision to exit this business. UQM will start manufacturing the fuel cell compressors no later than May 15.

“We are excited to directly enter the fuel cell industry through this business transfer from Roush,” says Eric R. Ridenour, president and CEO of UQM Technologies. “Our expertise in manufacturing electric motor and controller systems makes this a natural extension of our existing product lines. Our revenue and gross profits will be improved as a result of this addition to our business. We look forward to serving the needs of our new customers and finding opportunities to expand the business as well.”

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