Quantum Announces Increasing Adoption of Q-Lite™ Natural Gas Storage Modules by New Customers and End Users
LAKE FOREST, Calif., Oct. 2, 2013 /PRNewswire/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a global leader in natural gas storage systems, integration and vehicle system technologies, today announced several new purchase orders for approximately $500,000 representing initial order flow and further adoption from several new customers and new end users for ultra-lightweight high-capacity CNG fuel storage tanks and fully-integrated modules.
"We are always excited to add new customers and end users, especially when we believe it's the start of a relationship that can expand rapidly," said Mr. Brian Olson, President and CEO of Quantum. "Our Q-Lite™ natural gas storage module is gaining increasing market attention due to its storage efficiency and light weight characteristics," continued Mr. Olson.
Quantum's automotive Tier-1 methodology for continuous improvement, coupled with a culture of innovation and best-in-class engineering practices is serving Quantum well during this period of product expansion and rapid growth in the natural gas vehicle market.
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. 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
©2013 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center, 25242 Arctic Ocean Drive, Lake Forest, CA 92630
Phone 949-399-4500 Fax 949-399-4600
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.
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