Ryder Partners with Quantum to Offer New Technology for Compressed Natural Gas Truck Fleets

  Ryder Partners with Quantum to Offer New Technology for Compressed Natural
  Gas Truck Fleets

  Long-term Agreement to help reduce costs, extend fuel range, and increase
                       vehicle uptime for CNG vehicles

Business Wire

MIAMI -- May 7, 2014

Ryder System, Inc. (NYSE: R), a leader in commercial transportation and supply
chain management solutions, today announced it has entered into a long-term
agreement with Quantum Fuel Systems Technologies Worldwide, Inc.
(NASDAQ:QTWW) for the purchase and supply of complete compressed natural gas
(CNG) fuel systems that will help reduce costs and increase vehicle uptime for
businesses that lease CNG trucks from Ryder. With the agreement, Ryder will
purchase state-of-the-art CNG tank systems directly from Quantum and install
them onto CNG-powered vehicles with a team of Ryder technicians using
state-of-the-art industry procedures related to these systems. Natural gas
tank storage systems are one of the most expensive components of a natural gas
vehicle. By purchasing the systems direct, Ryder can pass savings onto its
lease customers, ultimately delivering a faster return on investment for this
natural gas vehicle technology. Ryder will be the first transportation company
to use Quantum’s OEM-quality CNG systems on a national scale. In addition to
the purchasing agreement, Quantum and Ryder will work together to improve
future fuel system designs, based on Ryder’s market leadership and experience
operating CNG vehicles in commercial truck applications.

“Next to the limited commercial fuel infrastructure, the biggest barrier to
the broad adoption of natural gas vehicles is the initial cost of the
technology,” stated Ryder President of Global Fleet Management Solutions,
Dennis Cooke. “This relationship will help make compressed natural gas
vehicles more affordable and reliable, so more businesses can take advantage
of their environmental and efficiency benefits.”

Quantum is a global leader in CNG storage systems, integration and vehicle
system technologies. Quantum produces one of the most innovative, advanced,
and lightweight compressed natural gas storage tanks in the world. Ryder will
be using Quantum’s Q-lite^TM CNG tank system, which is lighter than other tank
systems on the market, making it highly effective in delivery applications
where payloads have increased and on-board weight saving is essential. The
high capacity systems are designed for superior reliability, helping to
improve vehicle up-time. The adaptable model design is ideal for medium and
heavy duty trucks, and provides exceptional cost, weight, and capacity (Diesel
Gallon Equivalent - DGE). Ryder’s maintenance team has worked with Quantum to
develop comprehensive procedures to ensure that tank system installations will
meet the highest industry standards.

“With Ryder, we can bring our leading-edge natural gas tank storage and system
technology to a larger base of businesses that are looking to improve
efficiencies, save on fueling costs, and get better performance from their
natural gas fleets,” said Brian Olson, President and CEO of Quantum. “Our
Q-Lite™ natural gas storage module is gaining increasing market attention due
to its storage efficiency and light weight characteristics that help to
improve performance and increase fuel range in commercial trucking
applications."

Ryder is the market leader in natural gas vehicle and maintenance solutions
for the commercial transportation industry. Businesses can tap into Ryder's
extensive knowledge of natural gas vehicle operations, expanding maintenance
network, and its highly trained and experienced technicians, to ensure the
safe operation, maintenance, and fueling of natural gas vehicles. Ryder’s
leasing and rental business model enables businesses to “test” the new
technology with less risk of downtime, as well as insulate themselves from the
unknown residual risk.

Ryder’s natural gas fleet includes over 500 compressed and liquefied natural
gas vehicles operating more than 20 million miles, and serving over 40
customers in California, New York, Texas, Arizona, Michigan, Utah, Georgia,
and Louisiana. The company also operates two Liquefied to Compressed Natural
Gas (LCNG) fuel stations at its maintenance facilities in Orange and Fontana,
California.

                                 About Ryder

Ryder is a FORTUNE 500® commercial transportation, logistics and supply chain
management solutions company. Ryder’s stock (NYSE:R) is a component of the Dow
Jones Transportation Average and the Standard & Poor’s 500 Index. Ryder has
been ranked three years in a row as one of the top 250 U.S. companies in the
Newsweek Green Rankings. Ryder is a charter member of the NGV Fleet Forum and
a member of the Department of Energy’s National Clean Fleets partnership.
Ryder is also a recipient of the 2011 NGV Achievement Award and has been
recognized by the Carbon Disclosure Project (CDP) in the Carbon Disclosure
Leadership Index. A member of the American Red Cross Disaster Responder
Program, Ryder is proud to support national and local disaster preparedness
and response efforts. For more information, visit www.ryder.com and follow us
on Facebook, YouTube, and Twitter.

                                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.

Note Regarding Forward-Looking Statements: Certain statements and information
included in this news release are "forward-looking statements" within the
meaning of the Federal Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on our current plans and expectations and
are subject to risks, uncertainties and assumptions. Accordingly, these
forward-looking statements should be evaluated with consideration given to the
many risks and uncertainties that could cause actual results and events to
differ materially from those in the forward-looking statements including those
risks set forth in our periodic filings with the Securities and Exchange
Commission. New risks emerge from time to time. It is not possible for
management to predict all such risk factors or to assess the impact of such
risks on our business. Accordingly, we undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.

Contact:

Ryder System, Inc.
Cindy Haas, 305-500-4526
Cindy_Haas@Ryder.com
or
Jonathan Mayor, 305-500-3161
Jonathan_C_Mayor@Ryder.com
 
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