UQM Technologies Provides Update on CFIUS Status

LONGMONT, Colo.–(BUSINESS WIRE)–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”). The extended period will be
completed no later than July 25, 2019. Management has been given no
reason to believe that the results will differ from earlier expectations
about the successful closing of the merger with 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.

About UQM

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. UQM is IATF 16949 and
ISO 14001 certified and located in Longmont, Colorado. For more
information, please visit www.uqm.com.

This Release contains statements that constitute “forward-looking
statements” within the meaning of Section 27A of the Securities Act and
Section 21E of the Securities Exchange Act. These statements appear in a
number of places in this Release and include statements regarding our
plans, beliefs or current expectations; including those plans, beliefs
and expectations of our management with respect to, among other things,
completion of
the announced transaction upon the terms and
conditions and within the timelines expected, the financial performance
of each of UQM and Danfoss through the completion of the Merger,
including in particular UQM’s cash flows and cash balances, the timing
of, and regulatory and other conditions associated with, the completion
of the merger, including approval by CFIUS, UQM’s extended history of
losses and current financial limitations, risks related to UQM’s
intellectual property and litigation and claims in which UQM or its
principals may become involved; and other factors that are described
from time to time in UQM’s periodic filings with the U.S. Securities and
Exchange Commission. Important Risk Factors that could cause actual
results to differ from those contained in the forward-looking statements
are contained in our Form 10-K and Form 10-Q’s, which are available
through our website at
www.uqm.com
or at www.sec.gov.

Source: UQM Technologies, Inc.

Contacts

Company Contacts:
Chris Witty
UQM Investor Relations
646-438-9385
[email protected]

David
Rosenthal
UQM Technologies, Inc.
303-682-4900
[email protected]

error: Content is protected !!