LAKE FOREST, Calif., June 12, 2013 /PRNewswire/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a leader in natural gas, alternative fuel systems and clean propulsion vehicle technologies, today announced that it has received the notice of allowance from the U.S. Patent and Trademark Office for a new patent on lightweight composite shells of natural gas and hydrogen storage tanks.
Quantum's new patent covers the breakthrough application of discrete localized reinforcement that enables significant reduction in weight and cost of composite shells of pressurized cylindrical storage tanks. Quantum recently announced the demonstration of this technology leap for lightweight carbon composite compressed natural gas and hydrogen fuel tanks, utilizing selective fiber placement, to achieve significant reduction in weight and cost – demonstrating more than 20% reduction in material utilization.
"This is a significant patent in that it provides an elegant solution to reduce both weight and cost of fuel tanks, thus enabling more widespread commercialization of natural gas and hydrogen fuel cell vehicles," said Brian Olson, President and Chief Executive Officer of Quantum. "We are in the process of refining this technology for phased introduction into commercial products."
Quantum currently produces one of the lightest and highest capacity natural gas and hydrogen on-board storage systems in the world. Developed at Quantum's technology campus in Lake Forest, California, Quantum's advanced natural gas storage systems provide dramatic weight reduction, increased fuel storage capacity, and the capability to quickly integrate these systems.
Quantum combines nearly 20 years of lightweight storage and system integration experience with strong expertise in materials, system integration, vehicle control software, emission and durability testing, validation, and manufacturing capabilities.
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 whether the new technology can be successfully transitioned into production, after meeting all product validation requirements and investment in processing equipment. 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:
Brion D. Tanous Principal CleanTech IR, Inc. Email: btanous@cleantech‐ir.com
©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.