Quantum Technologies Repays Subordinated Bridge Notes in Full

        Quantum Technologies Repays Subordinated Bridge Notes in Full

PR Newswire

LAKE FOREST, Calif., Sept. 23, 2013

LAKE FOREST, Calif., Sept. 23, 2013 /PRNewswire/ --Quantum Fuel Systems
Technologies Worldwide, Inc. (Nasdaq-SMALL: QTWW), a global leader in natural
gas storage systems, integration and vehicle system technologies, announced
today that it used a portion of the proceeds from its recent financing
transaction of $11.0 million in convertible notes to repay the entire
outstanding principal and accrued interest balances associated with unsecured
nonconvertible promissory bridge notes that originated in June and July 2012
(the "Bridge Debt"). The total amount paid in cash to retire the Bridge Debt
was approximately $7.3 million, of which $0.2 million represented accrued

The Bridge Notes were unsecured obligations of the Company and were
subordinate in all respects to the Company's senior secured indebtedness.
Interest had been accruing at a rate of 12% per year and was payable quarterly
in arrears on October 1, January 1, April 1 and July 1. The Bridge Notes were
scheduled to mature fifteen months following the dates of issuance beginning
on September 22, 2013 but the Company had the right to prepay, in whole or in
part, at any time without penalty.

"The replacement of the maturing Bridge Notes with the long-term 2%
convertible notes that we recently announced has strengthened our financial
position," stated Brad Timon, Chief Financial Officer of Quantum. Mr. Timon
continued, "We are pleased that we were able to retire the Bridge Debt in a
cost-effective manner."

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 release, other than those that are historical statements of fact, 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 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.
Email: btanous@cleantech‐ir.com 

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Website: http://www.qtww.com
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