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Quantum Ships Eleven Extended-Range Hydrogen Hybrid Vehicles to Norway's Hydrogen Highway
IRVINE, Calif., March 29 /PRNewswire-FirstCall/ -- Quantum Fuel Systems
Technologies Worldwide, Inc., (Nasdaq: QTWW) today announced that it has
shipped eleven hydrogen-fueled Prius hybrid vehicles to Miljobil Grenland
AS, a participant and vehicle provider to the Norwegian Hydrogen Highway
(HyNor).
The Norwegian government, industry participants, and the organizations
participating in a joint effort called HyNor plan on creating a "Hydrogen
Highway" between the capital, Oslo, and western Norway's port of Stavanger.
The Norwegian HyNor plan calls for five refueling stations along the main
highway from Oslo to Stavanger, the center of the national petroleum
industry that makes Norway the world's third largest oil exporter, after
Saudi Arabia and Russia. By 2009, HyNor plans to have enough fueling
stations along the 580-kilometer (360 mile) route to allow hydrogen-powered
vehicles to routinely make the trip. The ultimate goal is to extend the
hydrogen infrastructure network through much of Scandinavia under the
Scandinavian Hydrogen Highway Partnership, a joint organization formed by
HyNor, Sweden's HyFuture, and Denmark's Hydrogen Link.
The Hydrogen Hybrid package for the Prius includes Quantum's electronic
multi-point hydrogen injection system, turbocharger and intercooler,
Quantum's compressed hydrogen fuel storage module and hydrogen fuel
delivery system, and Federal Motor Vehicle Safety Standards (FMVSS)
crashworthy design and validation. The eleven vehicles in this shipment
were equipped with an extended range package, which was engineered by
Quantum to provide additional hydrogen storage capacity and a resulting 30
percent increase in vehicle driving range between refueling. In addition to
performing in specified starting conditions and meeting certain drivability
specifications, these vehicles were designed to meet European safety
standards, including the successful completion of crash testing to verify
the safety of the converted vehicles.
"Quantum's hydrogen hybrid Prius continues to generate interest from
around the world as a clean, fuel efficient alternative to petroleum fueled
vehicles," said Alan P. Niedzwiecki, President and CEO of Quantum. "We
believe that opportunities will continue to emerge to supply additional
vehicles to HyNor, the Scandinavian Hydrogen Highway Partnership, and the
rest of Europe."
About Quantum:
Quantum and its subsidiary, Tecstar Automotive Group, are leaders 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 has product commercialization alliances with General Motors, AM
General, and Sumitomo. Quantum's customer base includes General Motors,
Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, AeroVironment, and
the U.S. Army.
More information can be found about Quantum's products and services at
www.qtww.com.
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.
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