Quantum Announces Expanding Orders for its CNG Storage System from its
Commercial Alliance with Wheeltime Network
- Orders are from existing customer members and 3 new members of WheelTime's
Expansive Nation-wide Network
LAKE FOREST, Calif., July 21, 2014
LAKE FOREST, Calif., July 21, 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 it has received approximately $600,000 in purchase orders over the past
several weeks for its light weight natural gas storage systems from the
The WheelTime Network is comprised of 18 member networks with a reach into
over 180 installation and service locations nationwide. Quantum has been the
exclusive supplier of compressed natural gas storage systems to the WheelTime
Network for aftermarket system conversions and is now expanding the
relationship to include system installs on new OEM level trucks. Installations
of these systems are performed at the WheelTime locations. Under an
arrangement that began over two years ago, Quantum and WheelTime have been
training and educating the network locations on installs, maintenance and
service. As this relationship expands, the program has the potential of
including all member locations and can provide the industry the needed support
for ongoing service needs.
"We are excited to be expanding this relationship with additional orders and
especially to include additional WheelTime members and locations," said Mr.
Brian Olson, President and CEO of Quantum. "We are working closely with
WheelTime on setting up new locations with installation and service training
and providing turnkey system solutions to the medium and heavy duty truck
industry. Our goal is to have this relationship reach all 50 states by
leveraging their expansive geographic footprint and trucking industry
prowess," continued Mr. Olson.
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 products. 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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