Category Archives: Quantum Fuel Systems Technologies Worldwide Inc. QTWW

Quantum Fuel Systems (QTWW) to Unveil Natural Gas Engine

March 1, 2013

Quantum Fuel Systems Technologies Worldwide, Inc. announced that the company would be unveiling a new engine system during the upcoming 2013 NTEA Work Truck Show. The industry expo will be held on March 5 in Indianapolis. The engine, a compressed natural gas (CNG) system, is an 8.8 liter engine available in naturally aspirated and turbocharged variants.

Quantum Fuel is a fully integrated alternative fuel company that develops and produces advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum’s portfolio includes technology such as hybrid electric drive systems and natural gas/hydrogen storage and metering systems. Quantum also develops components for hybrid and plug-in hybrid vehicles.

The naturally aspirated version will be rated at 250 hp and 500 lb-ft of torque, while the turbocharged version comes in at 350 hp and 660 lb-ft of torque. Due to the limited number of options available in this market space, Quantum feels its entry represents a unique market opportunity. The new engine will enable companies to offer complete, pre-qualified, and fully-integrated CNG drive systems to medium-duty truck manufacturers.

“Medium-duty truck manufacturers haven’t had an option for CNG engines in the larger Class 4-6 truck applications,” said Gary Winemaster, CEO of Power Solutions International. “Truck OEMs have asked for an engine with the performance of our 8.8-Liter CNG engine and we’ll be delivering later this year.”

“Quantum is proud to be supporting PSI in the new 8.8-Liter natural gas engine development,” said Brian Olson, president and CEO of Quantum. “We are pleased to leverage our experience in developing natural gas fuel systems and performing Tier-1 level system integration, validation and volume production of systems.”

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Quantum Fuel Systems (QTWW) Receives $600,000 in New Orders for Natural Gas Storage Tanks for Light Duty Vehicles

January 17, 2013

Natural gas, alternative fuel systems and clean propulsion vehicle technologies leader Quantum Fuel Systems Technologies Worldwide has announced the receipt of purchase orders from new and existing customers amounting to around $600,000 for its ultra-lightweight Q-Lite compressed natural gas (CNG) fuel storage tanks for light-duty vehicles.

The company’s advanced carbon composite natural gas vehicle storage systems are very lightweight and high capacity, making them attractive for a wide variety of vehicle classes – from light duty to heavy duty – to improve performance and fuel economy. Quantum’s business plan for 2013 centers on CNG and will be fueled by the momentum the company created in 2012, as well as by continued demand for Quantum’s CNG products, technologies, and solutions.

Quantum’s patented Q-Lite fuel tank technology provides the industry’s lightest natural gas fuel storage solution combined with superior fuel storage capacity, enhanced safety features, and the ability to quickly integrate fuel systems onto vehicles.

Quantum is a leader in developing and producing natural gas fuel storage and system technologies, alternative fuel vehicles, and advanced vehicle propulsion systems. The company’s array of technologies includes natural gas, hydrogen storage, and metering systems; electronic and software controls; hybrid electric drive systems and other alternative fuel technologies; and solutions that facilitate fuel-efficient, low-emission natural gas and hybrid, plug-in hybrid electric, and fuel cell vehicles. The company’s powertrain engineering, system integration, vehicle manufacturing and assembly capabilities offer fast-to-market solutions to support the production of natural gas; plug-in hybrid, hydrogen-powered hybrid, fuel cell and specialty vehicles; and modular, transportable hydrogen refueling stations.

Automotive OEMs, fleets, aerospace industry, military and other governmental agencies, and other strategic alliance partners make up Quantum’s customer base. Schneider Power, Inc., the company’s wholly owned subsidiary, and Asola Solarpower GmbH, the company’s affiliate, complement Quantum’s alternative and renewable energy presence through developing and owning wind and solar farms and manufacturing high-efficiency solar modules for both traditional and automotive applications. Headquartered in Lake Forest, Calif., Quantum has operations and affiliations in the U.S., Canada, Germany and India.

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Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW) to Demonstrate Hybrid Truck

June 5, 2012

Quantum Fuel Systems yesterday announced that it will hold a demonstration of its new Plug-In Hybrid Electric (PHEV) F-150 pickup truck at the 2012 Electric Utility Fleet Managers Conference (EUFMC) in Williamsburg, Virginia, June 2-6, 2012. Quantum will be showcasing its new truck to fleet managers from electric utility companies in the U.S., Canada, and South America.

Quantum Fuel is a fully integrated alternative fuel company that develops and produces advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum’s portfolio includes technology such as hybrid electric drive systems and natural gas/hydrogen storage and metering systems. Quantum also develops components for hybrid and plug-in hybrid vehicles.

On May 30, Quantum announced that the company had delivered the first pilot version of its new truck to Florida Power & Light Company, in association with Dow Kokam, the supplier of the lithium-ion battery system for the PHEV F-150. Along with Dow Kokam’s lithium-ion products, the PHEV-150 is powered by Quantum’s F-Drive hybrid drive system. The first 35 miles is on a series-hybrid electric zero emission mode, followed by an efficient parallel-hybrid drive mode that extends the range up to 600 miles, while yielding a 100-plus mpg fuel efficiency depending on the drive cycle.

Vehicles with the F-Drive and lithium-ion battery will have full ground clearance and will meet CARB/EPA emission regulations and the safety regulations from the US Department of Transportation Federal Motor Vehicles Safety Standards.

Brian Olson, CEO of Quantum, said, “We are pleased to demonstrate Quantum’s exciting PHEV F-150 at the Electric Utility Fleet Managers Conference, for the fleet managers to experience firsthand the performance and versatility of our highly efficient electric drive system. Our green fleet truck is an ideal solution for fleet managers who are interested in lowering their total cost of ownership, while also reducing greenhouse gas emissions and meeting corporate sustainability goals.”

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Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) Deploys Hybrid Electric Vehicles for U.S. Military Use

October 6, 2008

Alternative energy company Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW) announced its hybrid electric vehicle expertise will be used by the U.S. Army Tank Automotive Research Development and Engineering Center (TARDEC) for deployment at the Selfridge Air National Guard Base (SANGB).

Quantum has designed, developed and shipped a new generation of hybrid electric vehicles powered by hydrogen internal combustion engines. The vehicles will be used as part of a larger project involving TARDEC joint service partners around the country.

For the Army, the deployment means a shipment of vehicles designed to reduce emissions and the opportunity to verify and utilize the existing hydrogen refueling infrastructure. For Quantum, this means the company will have the ability to generate visibility and awareness of its technologies.

“We are pleased and honored to support TARDEC in their advanced vehicle initiatives to reduce petroleum dependence, while supporting our troops,” Alan P. Niedzwiecki, president and CEO of Quantum stated in the press release. “This project provides us with a great opportunity to continue to showcase our hydrogen and hybrid electric technologies to the US Army. We look forward to building on this relationship to develop additional enhanced vehicle platforms for the U.S. Army.”

The delivery to SANGB is part of TARDEC’s mission to develop hydrogen technologies that correlate with its environmental and energy goals while promoting the commercialization of hydrogen technologies to determine their use in future military projects.

“Our military’s energy and fuel security begins with leveraging the significant commercial and federal resources being developed that expand our options to support our installations and our war fighters while being good stewards of the environment and progressive partners to the surrounding communities in which we work,” Harold Sanborn, TARDEC’s Energy Infrastructure Team leader stated.

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Quantum Fuel Systems Technologies Worldwide Inc.’s (QTWW) German Partner Saddles up with South Korean High-Volume Manufacturer

September 15, 2008

Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW), a fully integrated alternative energy company, today released word its German solar photovoltaic partner, Asola, has signed a deal to establish a joint-venture manufacturing plant in South Korea. The partnership will allow the company to produce and distribute its German-designed solar modules in South Korea through Q&Tech/Yongsan Inc., a high-volume manufacturer of automotive components for the global automotive industry.

“I look forward to a long and mutually beneficial relationship with our partner in Korea,” Reinhard Wecker, the founder and CEO of Asola stated in the press release. “Our strategy is to associate with organizations that are established players in the solar industry or experienced high volume manufacturers of similar products. Our partner is already a trusted supplier to the automotive, telecommunication and electronics industries, and we are pleased to work with them.”

The facility will employ equipment, process and quality controls identical to Asola’s 45 MW facility in Germany. The solar modules, consisting or mono- and poly-crystalline silicon solar material, will be designed in Germany and will have the initial capacity of 30 MW (megawatts of peak power), with a potential to generate revenues in excess of $100 million per year.

This is perfect timing for the company to enter into the Korean solar energy market, which is expected to rapidly grow in the coming years.

“South Korea, with their ambitious target of 1 GW (giga watts peak power) solar energy production by 2012, is one of the fastest growing solar energy markets in the world,” Alan P. Niedzwiecki, president and CEO of Quantum stated. “Expansion into Korea provides us a timely vehicle for accelerated growth, to complement the markets in Europe.”

“We were attracted to the Asola-Quantum team due to their automotive industry heritage and focus on innovation, precision engineering and quality. We look forward to launching a solar production plant as soon as possible to participate in the accelerated solar energy market development in this country,” Seo Sang Jo, CEO of Q&Tech/Yongsan stated.

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Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) Affiliate Successful in Raising $65M for “Green” Car Development

September 10, 2008

Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW) operates as a fully integrated alternative energy company engaged in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. The company’s affiliate, a privately owned “green” car company founded by QTWW in 2007, recently completed its Series C financing round on September 4, 2008.

“We are extremely pleased to have closed our C financing round at this time, particularly in light of the current market conditions,” Henrik Fisker, CEO of Fisker Automotive Inc. stated in the press release. “This shows investors, once again, that Fisker Automotive has a solid business plan and a globally experienced automotive team with very strong investors behind the company.”

The $65-million investment was led by an affiliate of Qatar Investment and includes participation from Palo Alto Investors and Kleiner Perkins Caufield & Byers. Alan Niedzwiecki, president and CEO of QTWW, said the funding enforces the company’s position in the market and the direction of the transportation industry.

“This privately raised money validates what Quantum has been telling investors: principally, that the quality, value proposition, and international marketplace for these products not only exist but are on the precipice of inclusion into the mainstream psyche and marketplace of any person who uses a vehicle to fulfill their transportation needs,” Niedzwiecki stated.

The money will be used to develop Fisker Automotive’s first production car, the Fisker Karma – a four-door, plug-in-hybrid premium sports car. The “first-of-its-kind” vehicle was showcased at the North American International Auto Show in January 2008.

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RedChip Featured Company: Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW)

September 2, 2008

Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW) is a diverse alternative energy company engaged in the development and production of propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum provides solutions, from conception to production, to original equipment manufacturers (OEMs), commercial organizations, and governments. The company’s mission is to create breakthrough technologies that redefine the future of energy.

Quantum is a Tier 1 supplier of “green” vehicle technologies to automotive OEMs. The company’s technologies are being fully integrated into the transportation industry. Quantum’s core hybrid electric, hydrogen, and alternative fuel technologies allow for energy efficient use in hybrid and fuel cell vehicles.

With its knowledge of powertrain engineering and vehicle integration, Quantum has worked with the U.S. Army in designing complete fuel cell and hybrid vehicles. Utilizing the Quantum technology would provide soldiers with a tactical advantage by providing virtually silent operating modes that would have a reduced thermal signature, extended silent watch capabilities, and produce transportable power for telecommunications, surveillance, and other battlefield equipment. Quantum also has strategic alliances with General Motors, Fisker Automotive, Asola, and Advanced Lithium Power, Inc.

Quantum has developed a proprietary high-performance plug-in hybrid electric propulsion system called “Q-Drive”. The Q-Drive takes advantage of the performance potential of electric drive systems while providing high mileage and low emissions from its integrated, plug-in hybrid electric design. The drive system provides advantages including optimal fuel efficiency, continued use of traditional fuel stations, and simple battery charging through any 110-volt outlet, 220/240-volt fast-charging outlet, or a Quantum solar-energy powered recharging station. The Q-Drive will be used in the Fisker Automotive line of premium luxury vehicles and will provide drivers with up to 50 miles of emissions-free driving per day.

Quantum is taking a lead in the development of hydrogen technologies. Hydrogen is the most abundant element in the universe and can be easily generated from renewable energy resources. One of the largest hurdles in making hydrogen a viable fuel source has been how to safely store it. Quantum has developed the most advanced hydrogen storage system in the industry, which has set the path for the Department of Energy’s National Hydrogen Energy Roadmap. Additionally, the company’s hydrogen refueling stations provide modular solutions for creating a distribution infrastructure to meet the increased demand for hydrogen and fuel cell vehicles.

According to Alan Niedzwiecki, President and CEO of Quantum, “Our goal is to build upon our foundation of advanced energy technologies to become the premier, fully integrated alternative energy company.”

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Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) Teams with Designer of Aston Martin’s DB9; Attracts Attention of CAR Magazine

June 27, 2008

Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW) today announced the Quantum-Powered Fisker Karma hybrid sports sedan is featured in a five-page article in the July 2008 edition of CAR Magazine. This publication highlights trends and technology in the automotive industry, and gives the company and its partnership with Fisker Automotive Inc., widespread attention.

“We’re very excited to see the car featured in such a popular publication,” Alan P. Niedzwiecki, president and CEO of Quantum stated in the press release. “We continue to see growing interest in the Karma, both from traditional car enthusiasts and eco-conscious drivers around the world.”

Designer of the Karma, and CEO of Fisker Automotive Henrik Fisker, gained notoriety in the luxury automotive market with his design of the Aston Martin’s DB9 and BMW’s Z8 roadster. And now, this Quantum-powered, zero-emission, green vehicle is one of the first of its kind with the ability to earn a price tag of $80,000.

“‘Usually, enthusiasts are the first to buy a new car, environmentalists the last. We’ve united the two. You don’t get as much reaction in a cool sports car now; people don’t look at you and say ‘lucky guy.’ That’s why you see movie stars in Priuses. People are just amazed and surprised that they can now have a truly sexy environmental car. This is the car they’ve been waiting for. Consumers are ahead of the car companies’ here,’” Fisker stated in the article.

Quantum’s Q-Drive hybrid propulsion system, integrated with a small gasoline engine, fuels the Karma through an electric generator that charges a lithium-ion battery pack. The sedan hits 0 to 60 mph in 5.8 seconds, reaching speeds in excess of 125 mph.

The company’s innovative and efficient systems, including regenerative braking, generator, power control, and electronics and software systems, has earned Quantum the role of providing Fisker Automotive a base for all future derivatives.

According to the press release, Fisker expects 100 of the luxury hybrids to hit the street by the end of 2009, with full production commencing in 2010.

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Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) to Join the Russell 3000 – Boosting its Presence on the Investment Radar

June 20, 2008

Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW) develops and produces advanced propulsion systems, energy storage technologies and alternative fuel vehicles. The company’s portfolio includes products integral to the advancement of alternative energy-fueled technologies.

Quantum’s products include advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low-emission hybrid, plug-in hybrid electric, fuel cell and alternative fuel vehicles.

The company announced it will join the Russell 3000 Index and the Russell Global Index when Russell Investments reconstitutes the indexes on June 27, 2008. Russell Investments’ annual reconstitution collects 4,000 of the largest U.S. stocks, as recorded by the end of May. Quantum’s inclusion in the index will boost the company’s presence to investors and will increase its presence in the advanced energy markets, creating awareness of its technologies.

“Being included in the Russell 3000 Index is a great opportunity to increase our visibility within the investment community and supports our viability as a premier provider of advanced energy technologies and solutions,” Alan P. Niedzwiecki, president and CEO of Quantum stated in the press release. “We believe we are on the leading edge of a new automotive age as we move to the electrification of the automobile. As worldwide demand and other pressures on oil, such as an over reliance by developing countries, continues to rise, and as people seek cleaner and more renewable power sources, demand for our hybrid propulsion systems and other alternatives such as Quantum’s fuel cell systems technology, will continue to increase.”

The Russell indexes are frequently used by investment managers and institutional investors for index funds and as benchmarks for various investment strategies. The index was created in the 1980s to evaluate outside investment managers.

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Shares of Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW) Gain on Solar Modules Contract

May 28, 2008

Shares of Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a fully integrated alternative energy company and leader in the development and production of energy storage technologies and alternative fuel vehicles, recently jumped on news of a new solar modules contract. Last week, the company announced that its German partner, Asola Advanced and Automotive Solar Systems, secured a $17 million contract from Sunworx for the supply of high-efficiency silicon photovoltaic solar modules.

Following the news, shares of Quantum Fuel Systems Technologies Worldwide climbed more than 16 percent on almost 8.5 million shares traded. This deal is expected to create a significant increase in revenue. Quantum Fuel Systems Technologies Worldwide and Asola Advanced and Automotive Solar Systems also announced plans to triple production capacity of its solar module by fall 2008.

In addition, Asola Advanced and Automotive Solar Systems and Quantum Fuel Systems Technologies Worldwide have entered into a long-term supply agreement with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells. This agreement and additional supply contracts with other leading suppliers confirm a steady supply of solar cells to Quantum Fuel Systems Technologies Worldwide and Asola Advanced and Automotive Solar Systems, thereby mitigating any risk of potential supply disruptions due to silicon shortages. Anticipated sales from these supply agreements are expected to total more than $600 million for both companies.

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Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) Partner Awarded $17M PV Solar Module Contract

May 27, 2008

Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW) today announced its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, has been awarded a $17 million contract from Sunworx GmbH, one of the leading solar system suppliers in Germany.

Per the agreement, Asola will supply Sunworx with its high-efficiency silicon photovoltaic (PV) solar modules, to be delivered later this year. Reinhard Wecker, Asola’s founder and CEO, said Sunworx’s reputation in the solar industry makes it a desirable business partner.

“Sunworx is notable for their innovative solutions, consistent growth and long-term business success. Asola is pleased to partner with this dynamic company, as they share our passion for the highest quality and reliability,” Wecker stated in the press release.

The solar industry is taking off, spurred by rising energy prices and the call for environmentally friendly products and solutions in every industry. Quantum and Asola maintain a competitive position in the market, recently announcing that solar module production capacity in Germany will triple by the fall of 2008.

“Demand for peak power is growing at twice the rate as the overall electricity market,” Alan P. Niedzwiecki, president and CEO of Quantum stated. “Solar systems are ideally suited to meet local peak power demands, and are increasingly favored by major utility companies to meet their renewable energy portfolio requirements. We believe that Quantum and Asola are well-positioned to meet this demand in Europe as well as to capitalize on the opportunities in California and the rest of North America.”

Quantum holds a 25 percent interest in Asola, and the two are in discussions toward a further relationship. Quantum develops advanced propulsion systems, energy storage technologies and alternative fuel vehicles. The company’s extensive product portfolio is applicable to the aerospace industry, fleets, military and other government entities.

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OTCPicks Featured Company: Quantum Fuel Technologies Worldwide, Inc. (QTWW) Partner Expands on Solar Module Manufacturing Capacity

May 21, 2008

With an increase in demand for photovoltaic power systems in Europe, Quantum Fuel Systems Technologies Worldwide, Inc. (NASD: QTWW) announced that their German solar partner, Asola Advanced and Automotive Solar Systems GmbH, is enhancing their annual solar module manufacturing capacity to 45 MW (megawatts peak power). Financing for the expansion has been fully secured by Asola, and the launching of the new facility is expected to happen by fall of this year.

Both parties have been in discussion regarding the expansion of their current partnership, in which Quantum holds a 25% stake in Asola. Earlier this year the two companies entered into a long-term supply agreement with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells. This allows the two companies to have a sufficient amount of solar cells, thereby giving them protection for any future disruptions due to crystalline silicon shortages. The companies have entered into numerous supply agreements with major suppliers around the world, and Asola and Quantum anticipate generating more than $600 million as a result of the agreements.

“Electricity buy back guarantee programs continue to expand the market for high quality solar photovoltaic power systems in Europe. We are excited to be in this vibrant market place, and pleased by the customer-loyalty and appreciation for Asola’s technology leadership, reliability and highest manufacturing quality,” said Alan P. Niedzwiecki, President and CEO of Quantum.

“Asola is pleased to kick off this much needed expansion project in partnership with Quantum,” commented Asola’s founder and CEO, Reinhard Wecker. “We are thankful to our bank, local and federal government agencies, key customers and suppliers for their collaboration and support for this project. Our expanded capacity will allow us to serve new and existing customers who are demanding increasing quantities of high quality solar photovoltaic products to ensure reliable electricity production during peak demand hours.”

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Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW) Quantum-Powered Fisker Karma Featured in Robb Report

April 9, 2008

Quantum Fuel Systems, a fully integrated alternative energy company and leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles, announced that Quantum-powered Fisker Karma, a high-performance hybrid sports sedan built through a partnership with Fisker Automotive, has been featured in the April 2008 edition of the Robb Report Collection.

Henrik Fisker, CEO of Fisker Automotive, is the Danish designer of the “eco-chic” hybrid design which runs on Quantum Technologies’ “Q-Drive,” a fully electric-powered system that offers zero-emissions, no compromise on power, achieves 100 miles per gallon, and a hybrid propulsion system configured with a small gasoline engine used solely to power an electric generator that charges a lithium-ion battery pack. The advanced propulsion system can take the Karma from 0 to 60 mph in 5.8 seconds, reaching speeds in excess of 125 mph.

The Q-Drive technology will offer a base for all future derivatives from Fisker Automotive and move Quantum Fuel Systems one-step closer to its goal of becoming the premier, fully integrated alternative energy company. Fisker Karma will also incorporate Quantum-Asola’s solar roof, produced through Quantum’s partner, Asola.

Fisker plans to deliver 100 luxury hybrids by the end of 2009 and full production is expected to commence in 2010.

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Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW) and Asola Advanced Awarded $135 Million Contractual Agreement to Supply Solar Modules

March 6, 2008

Quantum Fuel, a fully integrated alternative energy company and leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles, announced that its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, a technology company producing and marketing high output and high efficiency flat modules for residential and industrial applications, has been awarded a contract by AS Solar GmbH for the supply of high-efficiency silicon photovoltaic solar modules.

The contract is subject to final negotiations on quantity and price in 2009 and 2010. The value of this contract is estimated at $135 million over a three year period, beginning in 2008 and subject to final negotiations.

270 Watt and 230 Watt modules will be supplied by Asola to AS Solar, a leading German integrated solar energy systems company, for installations primarily in Spain.

Reinhard Wecker, Asola’s Founder and CEO commented, “Asola is pleased to be selected by AS Solar to be its long-term supplier supporting their growing portfolio of European projects. Our state of the art, high-efficiency modules and high-quality module production processes were key to meeting all of AS Solar’s rigorous requirements for these projects.”

Alan P. Niedzwiecki, President and CEO of Quantum said, “We are excited to be able to announce this contract award for Asola’s solar modules so soon after entering into the recently announced long-term photovoltaic cell purchase agreement. Demand for Asola’s high-quality solar modules continues to grow in the expanding renewable energy markets in Germany, Spain, Italy, and France. With our supply of solar cells secured, we believe that Quantum and Asola are well-positioned to meet this demand in Europe as well as to capitalize on the opportunities in California and the rest of North America.”

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Quantum (QTWW) Stocks Rise after News of Contract

May 31, 2007

Stocks for Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW) jumped 22 percent today after the company announced it had been awarded a contract by Force Protection Inc. (Nasdaq: FRPT), manufacturer and developer of Mine-Resistant Ambush Protected (MRAP) vehicles for the military.According to the press release, Quantum will provide Force Protection with engineering design and production support on the latter’s vehicles, including prototype vehicle builds and manufacturing process development. As a fully integrated alternative energy company and a leader in power-train engineering, system integration, and fuel system manufacturing, Quantum is well-suited for dealing with the project.

“We are pleased to be able to support Force Protection Inc. in producing its advanced ballistic- and blast-protected vehicles, which have protected and saved the lives of our armed forces and security personnel overseas,” said Alan Niedzwiecki, president and CEO of Quantum. “We look forward to building on this relationship through this contract and future opportunities to apply our fast-to-market, limited volume production expertise to assist in the deployment of these critically needed vehicles.”

This news comes less than two weeks after Quantum was awarded a contract by the U.S. Army to develop a diesel hybrid version of the company’s successful “Aggressor” hybrid vehicle.

Stocks rose steadily after the news, from an opening price of $1.60 a share to $1.79 a share by mid-afternoon.

Calls made to Quantum headquarters went unreturned.


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