Quantum Receives its First Storage System Purchase Order from Kenworth Dealership Network
LAKE FOREST, Calif., July 10, 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 has received its first storage system order from a large Kenworth dealership network with offices in the US and Canada. The purchase order is for Quantum's frame-rail mounted CNG storage module, Q-RailLITE™, incorporating Quantum's industry leading light-weight compressed natural gas storage vessels.
To enable the modules to be installed at specific Kenworth dealership locations, Quantum will train dealerships to install and service Quantum's CNG modules. The installation and service training will provide technicians the information, documentation, and hands-on experience to work with the unique aspects of CNG storage systems.
"We are excited to be working within the Kenworth dealership network as this represents our first opportunity to be working alongside Kenworth and their customer base," said Mr. Brian Olson, President and CEO of Quantum. "Installations by dealers and second stage assemblers are enabling the CNG vehicle industry to continue to expand. The advancement of the dealership channel and Quantum's direct participation therein, provides a cost effective solution for CNG system installations and is being well received by fleet customers," concluded Mr. Olson.
Quantum's Q-RailLITE™ CNG storage module, combined with Quantum's Q-CabLITE™ back-of-cab CNG storage module, provide the industry significant weight savings and extended capacity for longer range.
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.