Quantum Technologies Announces Listing Transfer to The NASDAQ Capital Market
LAKE FOREST, Calif., Nov. 1, 2012
LAKE FOREST, Calif., Nov. 1, 2012 /PRNewswire/ -- Quantum Fuel Systems
Technologies Worldwide, Inc. (the "Company") (NASDAQ: QTWW), a global leader
in alternative fuel systems and clean propulsion technologies for automotive
applications, including natural gas, hybrid/electric and hydrogen systems,
today announced that The NASDAQ Stock Market ("NASDAQ") has approved the
Company's application to transfer its stock listing from The NASDAQ Global
Market to The NASDAQ Capital Market, effective with the opening of the market
on November 2, 2012. The Company's common stock will continue to trade under
the symbol "QTWW." The NASDAQ Capital Market is a continuous trading market
that operates in the same manner as The NASDAQ Global Market. Companies
listed on The NASDAQ Capital Market must meet certain initial and continued
listing requirements and adhere to NASDAQ's corporate governance standards.
In connection with the transfer to The NASDAQ Capital Market, the Company was
afforded 180 days, or until April 29, 2013, to regain compliance with the
NASDAQ's $1.00 minimum bid price requirement (the "Bid Price Requirement") for
continued listing. Except for the Bid Price Requirement, the Company
currently meets all of the listing requirements and governance standards for
The NASDAQ Capital Market.
Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the
development and production of advanced vehicle propulsion systems, fuel
storage technologies, and alternative fuel vehicles. Quantum's portfolio of
technologies includes electronic and software controls, hybrid electric drive
systems, natural gas and hydrogen storage and metering systems and other
alternative fuel technologies and solutions that enable fuel efficient, low
emission hybrid, plug-in hybrid electric, fuel cell, and natural gas vehicles.
Quantum's powertrain engineering, system integration, vehicle manufacturing,
and assembly capabilities provide fast-to-market solutions to support the
production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell,
natural gas, and specialty vehicles, as well as modular, transportable
hydrogen refueling stations. Quantum's customer base includes automotive OEMs,
fleets, aerospace industry, military and other governmental agencies, and
other strategic alliance partners. Quantum's wholly owned subsidiary,
Schneider Power Inc., and affiliate, Asola Solarpower GmbH, complement
Quantum's alternative and renewable energy presence through the development
and ownership of wind and solar farms, and the manufacture of high efficiency
solar modules for traditional and automotive applications. Quantum is
headquartered in Lake Forest, California, and has operations and affiliations
in the USA, Canada, Germany and India.
Forward Looking Statements:
This press release contains forwardlooking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements included
in this report, other than those that are historical, are forward-looking
statements and can generally be identified by words such as "may," "could,"
"will," "should," "assume," "expect," "anticipate," "plan," "intend,"
"believe," "predict," "estimate," "forecast," "outlook," "potential," or
"continue," or the negative of these terms, and other comparable terminology.
Various risks and other factors could cause actual results, and actual events
that occur, to differ materially from those contemplated by the forward
looking statements. The Company undertakes no obligation to update the
information in this press release to reflect events or circumstances after the
date hereof or to reflect the occurrence of anticipated or unanticipated
More information can be found about the products and services of Quantum at
http://www.qtww.com or you may contact:
Brion D. Tanous,
Principal, CleanTech IR, Inc.
©2012 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center
25230 Arctic Ocean Drive, Lake Forest, CA 92630
Phone 949-930-3400 Fax 949-930-3401
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.
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