quantum fuel systems technol (QTWW) Key Developments
Quantum Fuel Systems Technologies Worldwide, Inc. Receives Contract to Develop Specialized 5,000 psi CNG Tank for Mining Applications
Jul 7 15
Quantum Fuel Systems Technologies Worldwide Inc. announced it has received a contract to develop a specialized 5,000 psi CNG tank specifically configured for an integrated storage system for heavy duty mining trucks in Australia. The tank will be developed for an international industrial firm which supports mining and other manufacturing applications leveraging compressed natural gas. The mining applications require availability of natural gas using virtual pipeline delivery methods and the use of CNG tanks for mining applications complements Quantum's recently announced commercial entry into the virtual pipeline industry. The tank under development will be optimized to maximize CNG payload in this mining application. The Q-Lite tank technology is available for a multitude of CNG applications. Quantum's Q-Lite line of tanks is extremely robust and can handle the heaviest of duties. The tank was developed using the same design and production characteristics of Quantum's highly successful Q-Lite CNG storage tanks being utilized on thousands of Class 6-8 on-road trucks around North America.
Quantum Fuel Systems Technologies Worldwide, Inc. Develops and Certifies New 5,000 Psi Natural Gas Tank for Virtual Pipeline and Other Vehicle Applications
Jun 15 15
Quantum Fuel Systems Technologies Worldwide Inc. announced that it has developed an innovative 5,000 psi tank for the emerging CNG virtual pipeline market and has shipped the first 100 units to a foreign-based customer. The tank was developed in connection with the customer's arrangement with an industrial firm to transport CNG in bulk quantities to locations where natural gas pipeline infrastructure is nonexistent. On a broader scale, virtual CNG pipeline applications include natural gas transport to remote manufacturing and power generation sites, mines, oil and gas fields, and marine. The 640-liter tank was designed to maximize the transport density of natural gas at 5,000 psi, compared to traditional 3,600 psi CNG storage, and incorporates unique design characteristics with patented interfaces enabling high capacity. In addition, the customer has a proprietary tank fill technology which allows for innovative refueling and elevated use of the tanks' available capacity. Quantum was selected for this demanding application due to its Q-Lite tank technology available for CNG and hydrogen applications that delivers the lightest weight and high capacity of any high pressure gaseous fuel tank in the industry. The virtual pipeline tank is a derivative of Quantum's highly successful Q-Lite CNG storage tank technology being utilized on thousands of Class 6-8 trucks around North America.
Quantum Fuel Systems Technologies Worldwide Inc. Receives New Order Within Beverage Industry for CNG Storage Systems
Jun 2 15
Quantum Fuel Systems Technologies Worldwide Inc. announced a new order from a beverage distributor in the Southeast for Quantum's 21-inch tank back-of-cab system for a Peterbilt 337 application. Quantum's storage system product offerings include several back-of-cab configurations ranging from a single tank to a 5 tank system design using different diameter tank products. Quantum's Q-RailLITE and Q-CabLITE CNG fuel modules are integrated CNG fuel systems for heavy-duty truck applications. The Q-RailLITE product line has been developed to be managed and installed on the traditional open rail-space. The Q-CabLITE product line and the Mainstay module line are both installed behind the cab allowing for a larger and customized capacity of CNG. Each of these modules contain Quantum's proprietary, ultra-light Q-Lite CNG storage cylinders, which further minimizes weight while increasing fuel capacity.
Quantum Fuel Systems Reiterates Revenue Guidance for the Year 2015; Provides Revenue Guidance for the Second Quarter and Second Half of 2015
May 5 15
Quantum Fuel Systems announced that it reiterates revenue guidance in 2015 in the 40% to 50% range, driven primarily by expanding CNG heavy duty systems business. The company expects revenue levels to increase in second quarter of 2015 with further expansion in the second half of 2015.
Quantum Fuel Systems Technologies Worldwide Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 5 15
Quantum Fuel Systems Technologies Worldwide Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company’s revenues were $9,198,114 against $7,954,873 a year ago. Operating loss was $3,210,286 against $1,633,545 a year ago. Loss from continuing operations before income tax was $3,627,432 against $3,149,586 a year ago. Loss from continuing operations was $3,627,432 against $3,151,186 a year ago. Net loss attributable to stockholders was $3,341,629 against $3,202,233 a year ago. Basic and diluted loss per share from continuing operations was $0.14 against $0.16 a year ago. Basic and diluted loss per share attributable to stockholders was $0.13 against $0.16 a year ago. Net cash used in operating activities was $5,498,626 against $3,577,077 a year ago. The decline in 2015 operating loss was mainly resulted from the lower gross margins realized on product shipments in the current year.