LAKE FOREST, Calif., Nov. 6, 2012 -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) today announced the roll-out of its new and enhanced natural gas storage technology aimed at creating sizeable new opportunities within the heavy duty long-haul and medium duty vehicle segments, among others. This next generation of proprietary advanced fuel storage technology incorporates state-of-the-art materials and innovative design characteristics to further support rapid commercialization of natural gas powered internal combustion engine vehicles. The new Q-Lite™ series of fuel systems have been optimized to maximize vehicle range by means of dematerialization and application of new generation materials, by leveraging Quantum's technology leadership in extreme high pressure hydrogen storage.
"Quantum is a solution-driven company, committed to providing innovative and cost-effective solutions to our customers," commented Brian Olson, Quantum's Chief Executive Officer and President. "The Q-Lite technology is the first in a planned series of advanced fuel system technologies enabling broader scale adoption through lighter weight and more robust storage systems."
This new and enhanced ultra-lightweight natural gas storage technology includes a unique one-piece lightweight liner system that maximizes storage capacity, and new generation shock absorbers and a highly optimized corrosion and fatigue-resistant structural shell that incorporates high strength lightweight aluminum fittings. Developed at Quantum's Technology Center in Lake Forest, California, the advanced composite natural gas storage cylinder provides dramatic weight reduction, increased fuel storage capacity, and the capability to integrate on vehicles with simple lightweight brackets, resulting in an overall reduction in fuel system weight.
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. Quantum'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, natural gas, hybrid, plug-in hybrid electric and fuel cell vehicles.
Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of natural gas, hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, and specialty vehicles. 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 Lake Forest, 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 Quantum's ability to produce and commercialize this next-generation tank technology, secure materials and manufacture tanks to meet the customer demand, the customer's ability to market the natural gas vehicles, continued domestic availability of low cost shale gas, and the decisions by fleet managers to purchase natural gas trucks. 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 at http://www.qtww.com/ or you may contact:
Brion D. Tanous
Principal, CleanTech IR, Inc.