UQM receives $3M worth of orders from Chinese customers

LONGMONT — UQM Technologies Inc. (NYSE: UQM) received several new fuel-cell compressor system purchase orders valued at $3 million from new and existing Chinese customers.

The customers include a major Chinese original equipment manufacturer. The orders represent new business for UQM, with orders expected to be shipped out later this year and early next year.

UQM’s fuel-cell compressor systems are known for their ability to be efficient systems for supplying air to fuel-cell stacks, powering vehicles and serving as key components in hydrogen-powered fuel cell systems.

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“When China expanded their New Energy Vehicles regulations to include fuel cell vehicles, there was a major shift and increase in demand in the fuel cell vehicle market,” CEO Joseph Mitchell said in a prepared statement. “We continue to expand our customer base and win new business and customers with our proven high performance and cost effective fuel cell compressor system in this growing market, especially in China, but also in Europe and North America.”

Mitchell added that UQM is establishing a fuel-cell service center in Shanghai.

“Our fuel cell compressor product line has become a key element of our global growth strategy,” he said in his statement, “and we continue to invest in improved performance and cost effective solutions to serve this market.”