LAKE FOREST, Calif., May 12, 2014 /PRNewswire/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a global leader in natural gas storage systems, integration and vehicle system technologies, today announced that Kwik-Trip Stores, a major Mid-west Convenience Store Chain, placed an initial order quantity for Quantum's fully-integrated Back-of-Cab Fuel System. The storage system includes Quantum's industry leading Q-LiteR compressed natural gas storage tanks.
"We had a pre-production launch in March of this light-weight, highly innovative back-of-cab storage system and the response from end users and fleet customers have been extremely positive," stated Brian Olson, President and CEO of Quantum. "Introducing innovation that reduces weight and cost of the storage system while increasing fuel capacity is the ultimate driving force behind fleets making the switch to our system."
Return-on-investment is a key driver for fleet customers assessing whether to adapt higher percentage levels of purchases for trucks and vehicles that run on natural gas. Cost effective and efficient fuel storage systems can reduce the total cost of ownership and pay back periods for fleet operators and encourage increased adoption rates in the industry.
About Quantum: Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the innovation, development and production of natural gas fuel storage systems and the integration of vehicle system technologies including engine and vehicle control systems and drivetrains. Quantum produces one of the most innovative, advanced, and light‐weight compressed natural gas storage tanks in the world and supplies these tanks, in addition to fully‐integrated natural gas storage systems, to truck and automotive OEMs and aftermarket and OEM truck integrators. Quantum provides low emission and fast‐to‐market solutions to support the integration and production of natural gas fuel and storage systems, hybrid, fuel cell, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum is headquartered in Lake Forest, California, and has operations and affiliations in the United States, Canada, 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 growth of the CNG market and acceptance of the Company's product. 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 about the products and services of Quantum can be found at http://www.qtww.com/ or you may contact:
Quantum Investor Relations
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.