Quantum Announces a New Customer for Its Light-Weight Back-of-Cab Natural Gas
LAKE FOREST, Calif., May 12, 2014
LAKE FOREST, Calif., May 12, 2014 /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 Kwik-Trip Stores, a major Mid-west Convenience Store Chain, placed an
initial order quantity for Quantum's fully-integrated Back-of-Cab Fuel
System. The storage system includes Quantum's industry leading Q-Lite^R
compressed natural gas storage tanks.
"We had a pre-production launch in March of this light-weight, highly
innovative back-of-cab storage system and the response from end users and
fleet customers have been extremely positive," stated Brian Olson, President
and CEO of Quantum. "Introducing innovation that reduces weight and cost of
the storage system while increasing fuel capacity is the ultimate driving
force behind fleets making the switch to our system."
Return-on-investment is a key driver for fleet customers assessing whether to
adapt higher percentage levels of purchases for trucks and vehicles that run
on natural gas. Cost effective and efficient fuel storage systems can reduce
the total cost of ownership and pay back periods for fleet operators and
encourage increased adoption rates in the industry.
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 could cause
actual results, and actual events that occur, to differ materially from those
contemplated by the forward looking statements.Risk factors include the
growth of the CNG market and acceptance of the Company's product. 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:
Quantum Investor Relations
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.
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