LAKE FOREST, Calif., Dec. 18, 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 it delivered its initial 21" diameter Q-Lite® tank systems that were developed under a commercial alliance with Mainstay Fuel Technologies announced in September 2014. The systems incorporate Quantum's industry leading light weight storage tanks and are being delivered directly to a major transportation company and to fleet customers through Quantum's relationship with Kenworth and their dealership network. The systems are based on Mainstay's existing fuel module designs and incorporate three of Quantum's 21" Q-Lite tanks, which provide significant weight savings over competing 21" tank diameter based systems.
Under the Quantum-Mainstay alliance, each party can offer 21" Back-of-Cab fuel storage systems based on their respective customer needs, and will jointly collaborate on business development activities and new designs for 21" tank diameter systems. The 21" based systems offer unique capabilities including a new 59 diesel gallon equivalent (DGE) package that is low profiled (46") to allow visibility out of the back windows of the cab. Under the alliance, Quantum can offer an extended range of sizes from 59 DGE to 147 DGE in a single Back-of-Cab fuel storage system.
"We see the market segmenting into vertical applications. These new product offerings enable us to provide our customers with a wider variety of CNG fuel storage systems, enabling them to use natural gas in a much broader set of applications," said Mr. Brian Olson, President and CEO of Quantum.
Quantum's Q-Lite advanced fuel storage tank technology provides a light weight storage solution that maximizes a vehicle's range and improves natural gas capacity and performance allowing customers to get the most out of their fuel storage capacity as compared to using any other compressed natural gas tank on the market.
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:
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SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.