Quantum Enters Into Partnership Agreement with Linde to Supply Hydrogen
Quantum receives Initial Purchase Order as Part of the Three-Year Partnership
Agreement Covering Supply and Commissioning of Compressed Hydrogen Refueling
LAKE FOREST, Calif., Jan. 30, 2013
LAKE FOREST, Calif., Jan. 30, 2013 /PRNewswire/ -- Quantum Fuel Systems
Technologies Worldwide, Inc. (NASDAQ: QTWW), a leader in natural gas,
alternative fuel systems and clean propulsion vehicle technologies, today
announced that it has received a purchase order from Linde LLC, an affiliate
of The Linde Group, a world-leading gases and engineering company, for gaseous
hydrogen refueling systems, as the first order under the three-year
"We are excited about the partnership with Linde and pleased to supply
state-of-the-art, high quality systems in support of Linde's roll-out of
compressed hydrogen refueling infrastructure in the USA," said Brian Olson,
President and CEO of Quantum. "Quantum has been in the forefront of supplying
industry-leading, high capacity, ultra-lightweight gaseous fuel storage and
refueling systems to global automakers, and we are pleased to bring our
technology and experience to one of the largest hydrogen suppliers in the
Steve Eckhardt, Linde's head of Business Development – Alternative Energy
said, "Linde's partnership agreement with Quantum leverages our
industry-leading high performance hydrogen compression technology and helps
Linde meet its commitment to bring safe, reliable and fast-fueling hydrogen
stations to the consumers of fuel cell vehicles. Linde is spending millions of
dollars on California-based companies in the deployment of hydrogen fueling
stations and this expands that investment in the State via the design and
build of a critical component of the station, the hydrogen fueling dispenser.
The Linde-Quantum partnership agreement will create jobs and expand technology
development in California."
The hydrogen systems will be specially designed, built and commissioned in
support of Linde's USA-based hydrogen refueling station projects. The systems
will support refueling at both 5,000 and 10,000 psi (35 and 70 MPa) service
pressures, and will come integrated with a remote gas management system,
authentication and point of sale systems. Quantum holds multiple patents
related to hydrogen fueling systems, and has designed and built 13 systems for
General Motors, Shell Oil, the US Army, AeroVironment/NASA and others in
support of hydrogen fuel cell programs.
The Linde Group, a world-leading gases and engineering company with around
62,000 employees in more than 100 countries worldwide. In the 2011 financial
year, Linde generated revenue of EUR 13.787 bn (USD 18.1 bn). The strategy of
the Group is geared towards long-term profitable growth and focuses on the
expansion of its international business with forward-looking products and
services. Linde acts responsibly towards its shareholders, business partners,
employees, society and the environment – in every one of its business areas,
regions and locations across the globe. The Group is committed to technologies
and products that unite the goals of customer value and sustainable
For more information, visit http://www.lindeus.com.
Linde corporate communications
Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the
development and production of natural gas fuel storage and system
technologies, alternative fuel vehicles, and advanced vehicle propulsion
systems. Quantum's portfolio of technologies includes natural gas and hydrogen
storage and metering systems, electronic and software controls, hybrid
electric drive systems, and other alternative fuel technologies and solutions
that enable fuel efficient, low emission natural gas and hybrid, plug-in
hybrid electric and fuel cell vehicles. Quantum's powertrain engineering,
system integration, vehicle manufacturing, and assembly capabilities provide
fast-to-market solutions to support the production of natural gas, plug-in
hybrid, hydrogen-powered hybrid, fuel cell, 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.
Quantum forward looking statements:
This press release contains forward looking 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. Risk factors include Quantum's ability to complete the
design, secure materials and build refueling dispensers to meet the customer
demand and the continued funding for hydrogen vehicles and infrastructure.
Quantum 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 events.
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.
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.
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