Quantum Announces a Breakthrough Technology Advancement for Natural Gas and
Hydrogen Fuel Storage
Technology Advancement Leads to Significant Potential for Improvement in
Storage Efficiency and Reduction in Cost
LAKE FOREST, Calif., June 3, 2013
LAKE FOREST, Calif., June 3, 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 developed an alternative new technology leap for
lightweight carbon composite compressed natural gas and hydrogen fuel tanks
utilizing selective fiber placement that leads to significant reduction in
weight and cost – demonstrating more than 20% reduction in material
utilization. The underlying methodology for the design and analysis of
discrete composite elements was developed by Quantum, and the manufacturing
process involving discontinuous reinforcing fibers was further developed and
demonstrated under collaboration with the Boeing Company and the Pacific
Northwest National Labs, under sponsorship by the Office of Energy Efficiency
and Renewable Energy of the US Department of Energy. Past Department of Energy
programs at Quantum have led to technology advancements that have been
successfully implemented in production tanks.
"Quantum continues to innovate and enhance our industry-leading
ultra-lightweight storage tank technology," said Brian Olson, President and
Chief Executive Officer of Quantum. "We are pleased that this exciting
breakthrough will significantly reduce the use of expensive carbon fiber,
which resulted from a multi-year development program in partnership with
global leaders in utilizing lightweight materials."
Quantum currently produces one of the lightest and highest capacity natural
gas and hydrogen on-board storage systems in the world. Developed at Quantum's
technology campus in Lake Forest, California, Quantum's advanced natural gas
storage systems provide dramatic weight reduction, increased fuel storage
capacity, and the capability to quickly integrate these systems. Quantum
combines nearly 20 years of system integration experience with strong
expertise in software, calibration, fuel system integration, emission and
durability testing, validation, and manufacturing capabilities.
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 whether the developed technology can
be successfully transitioned into production, after meeting all product
validation requirements and investment in processing equipment. 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.
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.
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