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Quantum Awarded Contract to Develop Diesel Hybrid Electric Vehicles for U.S. Army
IRVINE, Calif., May 21 /PRNewswire-FirstCall/ -- Quantum Fuel Systems
Technologies Worldwide, Inc. ( QTWW) today announced that it was
awarded a contract to develop a diesel hybrid electric version of its
Alternative Mobility Vehicle (AMV) "Aggressor." This program is a follow on
to Quantum's successful "Aggressor" vehicle, a high performance light-duty
off-road fuel cell hybrid vehicle developed for the U.S. Army's Tank
Automotive Research, Development and Engineering Center (TARDEC), National
Automotive Center (NAC). The contract has a total value of $4.88 million.
The objective of this program is to develop a second-generation
high-performance light-duty off-road hybrid electric vehicle platform based
on the results of and feedback from the U.S. Army's testing and evaluation
of the Aggressor. The propulsion system for this next phase of AMV
development will focus on a JP-8 fuel-compatible diesel internal combustion
engine based, battery dominant, series hybrid electric system, which would
provide a cost-effective, near-term solution as fuel cell technology
matures. Pre-production prototypes will be developed and built for testing
and evaluation by selected commands to assess mission suitability,
supportability, performance objectives, and guidance on final vehicle
configuration.
"We believe that the AMV program offers an innovative solution as a
long-range reconnaissance vehicle that fills a technology gap for the U.S.
Army in its national defense efforts while reducing its fuel logistic
burden," said Alan Niedzwiecki, President and CEO of Quantum. "The
vehicle's silent watch capability, high performance acceleration, extended
range, and exportable power provide significant advantages for the U.S.
Army in communications, surveillance, targeting, and reconnaissance
missions. We believe that this vehicle and Quantum's innovative hybrid
drivetrain will also be very well-suited for other commercial applications,
including homeland security, border patrol, park service operations, and
light-duty automobiles."
The contract will be through and administered by Alion Science and
Technology Corporation, based in Alexandria, VA. Alion will provide project
management oversight in support of this effort for the U.S. Army Tank
Automotive Research, Development and Engineering Center.
About Quantum:
Quantum, a fully integrated alternative energy company, is a leader in
powertrain engineering, system integration and manufacturing of packaged
fuel systems and accessories for specialty vehicles and applications
including fuel cells, hybrids, alternative fuels, hydrogen refueling, new
body styles, mid-cycle vehicle product enhancements and high performance
engines and drive trains for OEMs and consumers of aftermarket parts and
accessories. Quantum also designs and manufactures hybrid and fuel cell
vehicles. Quantum also develops and manufacturers advanced lithium-ion
batteries through its partner, Advanced Lithium Power.
Quantum has product commercialization alliances with General Motors, AM
General and Sumitomo. Quantum's customer base includes General Motors,
Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, SunLine, Yamaha,
AeroVironment, and the U.S. Army.
More information can be found about Quantum's products and services at
www.qtww.com.
About TARDEC/NAC:
The National Automotive Center (NAC), founded in 1992, is the
Department of Defense/ Army focal point for collaborative ground vehicle
research and development. The NAC, located at the Tank-automotive and
Armaments Command (TACOM), is an integral part of the Army's
Tank-Automotive Research, Development and Engineering Center (TARDEC). The
NAC serves as a catalyst linking industry, academia and government agencies
in the development and exchange of automotive technologies. The NAC
leverages government, commercial industry and academia R&D investments, and
initiates shared automotive technology programs. Its primary focus is to
benefit current and future military ground vehicle systems through:
performance improvements, service life extensions, and reduction in ground
vehicle design / manufacturing / production / operation / support costs.
Forward Looking Statements
Except for historical information, the statements, expectations, and
assumptions contained in the foregoing press release are forward-looking
statements. Such forward-looking statements include, but are not limited
to, the Company's expectations regarding expected future revenues and
operating results; future opportunities for Quantum; the Company's ability
to fulfill orders in the future; and other statements about the future
expectations, beliefs, goals, plans, or prospects expressed by management.
Such statements are subject to a number of risks and uncertainties, and
actual results could differ materially from those discussed in any
forward-looking statement. Factors that could cause actual results to
differ materially from such forward-looking statements include, among other
factors, prevailing market conditions; the Company's ability to design and
market automotive products; the Company's ability to meet customer
specifications and qualification requirements; availability of component
parts and raw materials that meet the Company's requirements; and the
Company's ability to source alternative materials and suppliers. Reference
should also be made to the risk factors set forth from time to time in the
Company's SEC reports, including but not limited to those contained in the
section entitled "Risk Factors" in the Company's Annual Report on Form 10-K
for the fiscal year ended April 30, 2006. The Company does not undertake to
update or revise any of its forward-looking statements even if experience
or future changes show that the indicated results or events will not be
realized.
For more information regarding Quantum, please contact:
Dale Rasmussen
Investor Relations
Email: DRasmussen@qtww.com
+1-206-315-8242
Andy Abele
Executive Director, Strategic Development
Email: aabele@qtww.com
+1-949-399-4527
(C)2007 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center
17872 Cartwright Road, Irvine, CA 92614
Phone 949-399-4500 Fax 949-399-4600
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.













