LAKE FOREST, Calif., Oct. 8, 2012 - Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a global leader in natural gas, hybrid/electric and hydrogen vehicle technologies, announced today that its ultra-lightweight carbon composite natural gas vehicle (NGV) tank was showcased to the nation's leading fleet professionals at a live event held on October 2nd at the Renaissance Schaumburg Convention Center, Schaumburg, Illinois, in conjunction with the Green Fleet Conference and Expo 2012 and NGV America Natural Gas Vehicle Conference and Summit. The Conference brings together fleet operators, policy makers and natural gas industry equipment and service suppliers.
"We are pleased to demonstrate the advantages of Quantum's industry-leading lightweight storage technology at this premier conference and exhibition," said Brian Olson, President and CEO of Quantum. "Quantum's high capacity tanks are 30-70% lighter than any other tank on the market today, providing remarkable advantages in installation, vehicle handling and fuel economy."
The Quantum tank was installed at the Green Fleet Conference live demonstration event as part of a record-breaking vehicle conversion in less than 2.5 hours, by a leading up-fitter.
The demand for Quantum's high capacity ultra lightweight natural gas storage systems continues to increase as fleets recognize the significant cost saving benefits in operating their vehicles on compressed natural gas.
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 the ability of Quantum to maintain technology leadership to remain 40-70% lighter than comparable fuel storage tanks. Installation time will depend on the vehicle configuration and the complexity of vehicle integration, in addition to the weight of the tank. 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.
©2012 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center
25242 Arctic Ocean Drive, Lake Forest, CA 92630