UQM Technologies Provides Update on CFIUS Status
UQM Technologies, Inc. (NYSE American: UQM) a developer of alternative energy technologies, today announced that the Committee on Foreign Investment in the United States (CFIUS) has notified the Company by letter dated June 7, 2019 that it will extend its period of investigation regarding the previously announced merger with Danfoss Power Solutions (US) Company (Danfoss).
- UQM Technologies, Inc. (NYSE American: UQM) a developer of alternative energy technologies, today announced that the Committee on Foreign Investment in the United States (CFIUS) has notified the Company by letter dated June 7, 2019 that it will extend its period of investigation regarding the previously announced merger with Danfoss Power Solutions (US) Company (Danfoss).
- Given the extended review period, management now believes that the closing with Danfoss should occur in the early part of the third quarter of 2019 following CFIUS approval.
- UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators, power electronic controllers and fuel cell compressors for the commercial truck, bus, automotive, marine and industrial markets.
- A major emphasis for UQM is developing propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles.