IRVINE, Calif., Sept. 17, 2012 -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a global leader in natural gas, hybrid/electric and hydrogen vehicle technologies, today announced that it will demonstrate its clean, fuel efficient, Plug-In Hybrid Electric (PHEV) F-150 pickup truck to nation's leading fleets at the Hybrid Truck Users Forum (HTUF) Conference in Charlotte, North Carolina, September 17th-20th, 2012.
The HTUF conference is an annual meeting of vehicle manufacturers and fleet managers from many of the Fortune 500 companies. Quantum will display two of its pilot PHEV F-150 pickup trucks, with one inside the exhibit area in booth 403 and a second vehicle available for ride and drives outside the conference center.
"We are pleased to demonstrate Quantum's pilot PHEV F-150 vehicles at the HTUF Conference for the fleet managers to experience firsthand the performance and versatility of our highly efficient electric drive system which we plan to launch into production in June of 2013," said Brian Olson, the CEO of Quantum. "The PHEV F-150 is an ideal solution for fleet managers who want to substantially lower their operating costs, while also reducing greenhouse gas emissions and meeting corporate sustainability goals."
Quantum's F-DriveTM system, which powers the PHEV F-150, is a unique parallel drive system with all electric operation capability. The vehicle incorporates 110 and 240V power outlets, allowing up to 30kWh of off-board power for emergencies or for operating tools. The Quantum PHEV F-150 is capable of driving as an electric vehicle for the first 35 miles before shifting to hybrid mode. In hybrid mode, the PHEV F-150 can travel approximately 600 miles on a single tank of gas.
Plug-in hybrid vehicles may qualify for a number of federal, state and local incentives including California's HVIP program ($8,000 for the first two trucks and $6,000 per truck thereafter) and a federal tax rebate of $7,500. A list of incentives can be viewed at http://www.afdc.energy.gov/laws/search and http://www.californiahvip.org/
Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the development and production of advanced vehicle propulsion systems, fuel storage technologies, and alternative fuel vehicles. The Company's portfolio of technologies includes electronic and software controls, hybrid electric drive systems, natural gas and hydrogen storage and metering systems and other alternative fuel technologies and solutions that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and natural gas vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, natural gas, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, fleets, aerospace industry, military and other governmental agencies, and other strategic alliance partners. Quantum's wholly owned subsidiary, Schneider Power Inc., and affiliate, Asola Solarpower GmbH, complement Quantum's alternative and renewable energy presence through the development and ownership of wind and solar farms, and the manufacture of high efficiency solar modules for traditional and automotive applications. Quantum is headquartered in Irvine, California, and has operations and affiliations in the USA, Canada, Germany 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 whether Quantum will be able to commence the launch of production of the PHEV F-150 in June 2013 and whether Quantum's F-150 PHEV will qualify for certain federal, state and local incentives. 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 can be found about the products and services of Quantum, Schneider Power and Asola at http://www.qtww.com/ or you may contact:
Brion D. Tanous
Principal, CleanTech IR, Inc.