Quantum Technologies to Raise $3.0 Million in Registered Direct Offering

   Quantum Technologies to Raise $3.0 Million in Registered Direct Offering

PR Newswire

LAKE FOREST, Calif., May 16, 2013

LAKE FOREST, Calif., May 16, 2013 /PRNewswire/ --Quantum Fuel Systems
Technologies Worldwide, Inc. (NASDAQ: QTWW) (the "Company"), a global leader
in natural gas storage systems, integration and vehicle system technologies,
today announced that it has agreed to sell common stock and warrants for gross
proceeds of $3,000,000 in a registered direct offering (the "Offering") with
Crede CG III, Ltd., a wholly-owned subsidiary of Crede Capital Group, LLC

Under the Offering, the Company will issue to Crede 4,918,032 shares of common
stock and a warrant to initially purchase up to an aggregate of 2,950,819
shares of common stock. The purchase price per share of common stock equaled
the Company's consolidated closing bid price on May 15, 2013 of $0.61. The
warrant has a five-year term, and is immediately exercisable at a price of
$0.671 per share. The holder of the warrant may, at any time after 30 days
from the issuance of the warrant until its expiration, elect to exchange all
or part of the warrant for, at the Company's option, cash or shares of common
stock (provided certain conditions are satisfied), or a combination thereof,
equal to the value of the warrant at the time of the exchange based on a
prescribed Black-Scholes formula. If the number of shares of common stock
required to settle the exchange would exceed 19.99% of the issued and
outstanding shares prior to the closing of the Offering, then the value of the
shares in excess of such limit may be settled by the Company in cash or by
delivery of a one-year 10% unsecured promissory note. The holder may not
exchange the warrant unless the trading price for a share of the Company's
common stock is below the warrant's exercise price. The warrant also provides
that, under certain circumstances, the Company will have the ability to cause
the holder to exercise the warrant for cash. The warrant also provides that
if the Company's common stock is delisted from the NASDAQ Capital Market, then
the number of shares of common stock underlying the warrant at the time of
such delisting shall automatically be adjusted upward by multiplying the
number of shares underlying the warrant at the time of the delisting by

Roth Capital Partners, LLC (the "Placement Agent") served as the Company's
exclusive placement agent in connection with the Offering and will receive a
cash fee of $210,000, which represents 7.0% of the gross proceeds received by
the Company from the Offering.

The net proceeds realized by the Company in connection with the Offering,
after deducting the Placement Agent's fee and other Offering expenses, are
expected to be approximately $2.7 million. The Company intends to use the net
proceeds from the Offering for working capital and other general corporate

The common shares and warrant described above and the shares issuable upon
exercise of the warrant are being offered and sold pursuant to a prospectus
supplement dated as of May 16, 2013, which has been filed with the Securities
and Exchange Commission ("SEC") in connection with a takedown from the
Company's shelf registration statement on Form S-3 (File No. 333-176772),
which became effective on September 29, 2011, and the base prospectus dated
September 29, 2011. Copies of the prospectus supplement, together with the
accompanying prospectus, can be obtained at the SEC's website at
http://www.sec.gov, from the Placement Agent at 888 San Clemente Drive,
Newport Beach, CA 92660, or by telephone at (949) 720-7194.

The Offering is expected to close on May 16, 2013, subject to the satisfaction
of customary closing conditions.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy any securities of the Company in this offering. There shall
not be any offer, solicitation of an offer to buy, or sale of securities in
any state or jurisdiction in which such an offering, solicitation, or sale
would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. Any offering will be made only by
means of a prospectus, including a prospectus supplement, forming a part of
the effective registration statement.

In connection with and immediately prior to the closing of the Offering, the
Company has terminated the At The Market Offering Agreement with Ascendiant
Capital Markets, LLC dated December 28, 2012. The Company has sold 4,086,612
shares under the At The Market Offering Agreement for aggregate gross proceeds
of $2,611,334 (excluding commissions, fees and expenses).

About Quantum:
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 including those risks and uncertainties
identified in the "Risk Factors" section of the prospectus supplement we filed
with the SEC on May 16, 2013 could cause actual results and actual events that
occur, to differ materially from those contemplated by the forward-looking

Many of the risk factors are beyond our ability to control or predict. You
should not unduly rely on any of our forward-looking statements. These
statements are made only as of this press release. Except as required by law,
we are not obligated to publicly release any revisions to these
forward-looking statements to reflect future events or developments. All
subsequent written and oral forward-looking statements attributable to us and
persons acting on our behalf are qualified in their entirety by the cautionary
statements contained herein or in our public filings.

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.
Email: btanous@cleantech-ir.com

©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.

Website: http://www.qtww.com
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