Quantum Selected by California Energy Commission for Advanced Natural Gas Fuel
System and Engine Development
Quantum Receives Notice of Proposed Award for $1 Million Grant to Develop Fuel
Efficient, Low-Cost Natural Gas Engine for Class 3 to Class 7 Vehicles
LAKE FOREST, Calif., April 23, 2013
LAKE FOREST, Calif., April 23, 2013 /PRNewswire/ --Quantum Fuel Systems
Technologies Worldwide, Inc. (NASDAQ:QTWW), a global leader in natural gas
storage systems, integration and vehicle system technologies, today announced
that it has been notified by the California Energy Commission's (CEC) Public
Interest Energy Research Program that Quantum's proposal in response to the
Program Opportunity Notice entitled "Advanced Natural Gas Engine Research and
Development for Class 3 through Class 7 Applications" has been recommended for
a $1 million grant award. Southern California Gas has also committed
additional funding to help the project meet its technical goals.
The grant will fund the development and validation of a low-cost, multi-port
fuel-injected natural-gas fuel system and engine with advanced controls,
designed for Class 3 to Class 7 fleet applications such as buses, medium-duty
trucks, and port freight-handling vehicles. Quantum's partners in this project
are Power Solutions International, Inc. (PSI) a leading cleantech engine
manufacturer, technology and strategy consultancy Ricardo, and the University
of California, Riverside. The project will utilize PSI's new 8.8-liter engine
for the base engine, targeting a 20% improvement in fuel economy and a 16%
improvement in power density for the natural gas version to meet an urgent
market need for advanced natural gas options for medium duty applications.
"We are excited and honored to have been selected by the California Energy
Commission and to be working with PSI and Ricardo, proven leaders in their
respective fields," said Brian Olson, CEO and President of Quantum. "We are
pleased to leverage our decades of experience in developing natural gas fuel
systems and fill a need in the industry that is in short supply of natural gas
engines for the high growth medium duty market segment."
"We thank CEC for funding the development of clean-energy answers to America's
transportation issues," said Gary Winemaster, CEO of PSI. "This project
addresses the number one market barrier for natural-gas vehicles—the high
price differential of natural-gas engines, by offering fleet owners a lighter,
more efficient 8-liter class option at a lower cost than anything commercially
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 is
headquartered in Lake Forest, California, and has operations and affiliations
in the United States, Canada, and India.
About Power Solutions International, Inc.
Power Solutions International, Inc. (PSI) is a leader in the design,
engineering and manufacture of emission-certified, alternative-fuel power
systems. PSI provides integrated turnkey solutions to global original
equipment manufacturers in the industrial off- and on-road markets. The
company's in-house design, prototyping, engineering and testing capacities
allows PSI to customize clean, high-performance engines that run on a wide
variety of fuels including natural gas, propane, biogas and gasoline.
PSI develops and delivers complete power systems with engines ranging from
.97-Liter to 22-Liters of displacement, including the new 8.8-Liter engine
aimed at the industrial and on-highway markets including medium duty fleets,
delivery trucks, school buses and garbage/refuse trucks. PSI power systems are
currently used worldwide in power generators, forklifts, aerial lifts, and
industrial sweepers, as well as in oil and gas, aircraft ground support,
agricultural, and construction equipment.
Ricardo plc is a global, world‐class, multi‐industry consultancy for
engineering, technology, project innovation, and strategy. With almost a
century of experience in engine and vehicle development, Ricardo employs over
2300 professional engineers, consultants, and staff who are committed to
providing outstanding value through quality engineering solutions focused on
high efficiency, low emission, class‐leading product innovation and robust
strategic implementation. Ricardo's client list includes the world's major
transportation original equipment manufacturers, supply chain organizations,
energy companies, financial institutions and governments. www.ricardo.com
Contacts and Verifications:
More information can be found about the products and services of Quantum at
http://www.qtww.com/ or you may contact:
Brion D. Tanous
CleanTech IR, Inc.
More information can be found about the products and services of PSI at
http://www.psiengines.com/ or you may contact:
Director of Marketing
Power Solutions International, Inc.
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 final approval of the grant
by CEC at a public business meeting, successful execution of the grant
agreement, ability of Quantum and partners to successfully complete the
project and develop and market the natural gas engine. 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 events.
©2013 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center, 25242 Arctic Ocean Drive, Lake Forest, CA 92630
Phone 949-399-4500 Fax 949-399-4600
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.
Press spacebar to pause and continue. Press esc to stop.