Quantum Announces Launch and Initial Order of Collar Mounted CNG Tanks
LAKE FOREST, Calif., Dec. 16, 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 that it has launched a new line of Q-Lite™ CNG storage tanks which can be collar mounted for both back-of-cab systems and side rail-mounted systems. These storage solutions complement Quantum's existing family of strap mounted tank systems. Quantum has received an initial order for the new collar mounted tanks and anticipates initial shipments to begin near the end of this month for a high volume CNG integrator.
The first application of Quantum's new collar mount product line is associated with a 21" diameter by 80" long tank (86" overall length with collar neck) which stores 28.4 DGE. Other sizes will soon be available with collar mount versions, including Quantum's industry leading 25" diameter tanks in a variety of lengths. The tanks are a varient of Quantum's standard strap mount design, except the end bosses have been extended to allow for collar mounting. This maximizes commonality in manufacturing to provide the best value for our customers.
"We are excited to launch this new line of collar mount CNG tanks to address this growing segment of the CNG truck market," said Mr. Brian Olson, President and CEO of Quantum.
The Q-Lite technology has set standards for the optimization of carbon fiber, yielding the lightest tank in the industry. Quantum's tanks also provide the greatest fuel capacity in a given volume. These industry leading capabilities are incorporated in Quantum's product line of collar mounted tanks.
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 successful launch of the collar mounted tanks and market acceptance of the 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.