UQM Technologies says it will expand directly into the fuel cell sector 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 clients.
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UQM had previously built components for these modules and says Roush “made a strategic decision to exit this business, but wanted to ensure that its customers would have a stable supply source for future purchases” and approached UQM to be the on-going supplier.
UQM will start manufacturing the fuel cell compressors no later than 15 May this year.
“We are excited to directly enter the fuel cell industry through this business transfer from Roush,” said UQM Technologies president and CEO, Eric Ridenour.
“Our expertise in manufacturing electric motor and controller systems makes this a natural extension of our existing product lines.
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By GlobalData“Our revenue and gross profits will be improved as a result of this addition to our business.”
