Quantum Awarded Contract for Advanced Natural Gas Fuel Storage System
LAKE FOREST, Calif., Aug. 19, 2013
LAKE FOREST, Calif., Aug. 19, 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 a follow-on development contract from a leading
multi-national corporation, valued at $1.0 million, for advanced natural gas
storage system development and vehicle integration.
The contract awarded to Quantum is to upgrade a natural gas truck with the
next generation high capacity fuel storage technology, along with developing
the requisite balance of systems and engine controls. The fuel system
packaging, vehicle integration and control system development will be
performed at Quantum's Advanced Vehicle Concepts Center in Lake Forest,
"Our natural gas technology and commercialization team continues to be engaged
in advancing compressed natural gas storage technology to bring the most value
to our customers and the market," commented Brian Olson, the President and CEO
of Quantum. "We are pleased to be working on high-potential next generation
range-enhancing storage technologies while scaling up production of our
industry-leading Q-Lite™ carbon-composite natural gas tanks."
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. 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.
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.
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