Quantum Receives $1.4 Million in Orders from Two New Customers for Q-Lite™
Fully-Integrated Natural Gas Storage Systems
Quantum's New Customers Include Nationwide Network of Truck Integrators
LAKE FOREST, Calif., May 7, 2013
LAKE FOREST, Calif., May 7, 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 received $1.4 million in purchase orders from two new customers
for its industry-leading Q-Lite CNG tanks, and fully integrated,
factory-tested bolt-on natural gas fuel storage systems. One of these new
customers is a nationwide network of truck integrators, who is building up one
stop shop capability to convert aftermarket diesel truck fleets to run on
clean-burning natural gas.
"We are excited to gain new customers who provide access to hundreds of
thousands of aftermarket truck fleets that recognize the enormous benefits of
this low-cost domestic fuel," said Brian Olson, President and CEO of Quantum.
"We believe the aftermarket truck opportunity is significant with
approximately 4 million trucks on the road today and complements our existing
relationships within the OEM markets."
Quantum's proprietary Q-Lite fuel tank technology offers one of the lightest
natural gas fuel storage solutions in the industry, coupled with superior fuel
storage capacity, enhanced safety features and the capability to be quickly
integrated onto vehicles.
Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the
innovation, development and production of natural gas fuel storage systems and
the integration of vehicle system technologies including engine and vehicle
control systems and drivetrains. Quantum produces one of the most innovative,
advanced, and light-weight compressed natural gas storage tanks in the world
and supplies these tanks, in addition to fully-integrated natural gas storage
systems, to truck and automotive OEMs and aftermarket and OEM truck
integrators. Quantum provides low emission and fast-to-market solutions to
support the integration and production of natural gas fuel and storage
systems, hybrid, fuel cell, and specialty vehicles, as well as modular,
transportable hydrogen refueling stations. Quantum is headquartered in Lake
Forest, California, and has operations and affiliations in the United States,
Canada, and India.
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 ability of Quantum to fulfill
the purchase order requirements, continued cost differential and market
acceptance of natural gas fuel and the ability of Quantum's customers to
successfully expand into aftermarket truck fleets by offering reliable and
robust natural gas systems. 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 about the products and services of Quantum can be found at
http://www.qtww.com/ or you may contact:
Brion D. Tanous
CleanTech IR, Inc.
©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.