LAKE FOREST, Calif., Jan. 6, 2014 /PRNewswire/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW), a global leader in natural gas storage systems, integration and vehicle system technologies, today announced that it has been granted approval of its Type-IV Q-Lite® CNG tank technology, pursuant to United Nations ECE Regulation No. 110. This approval allows a certain Quantum tank family to be sold into United Nations countries around the world.
This approval will allow Quantum to bring its highly successful large diameter CNG tank technology to Europe and Asia and will enable European and Asian trucking firms to realize the substantial operating cost reductions that many US fleets have demonstrated through the use of CNG as a transportation fuel.
"We are excited to make our Q-Lite tank technology available to all UN countries and pursue opportunities outside of the North American market," said Mr. Brian Olson, President and CEO of Quantum. "Other sizes of CNG storage tanks, which store up to 46.5 diesel gallon equivalents, are planned as well for United Nations certification."
The Q-Lite technology has set standards for the optimization of carbon fiber, yielding the lightest tank in the industry. Quantum's tanks also provide the greatest fuel capacity in a given packaging envelope. These industry leading capabilities are incorporated in Quantum's product lines of both strap and collar mounted tanks, yielding the best value for its customers.
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 Q-Lite tanks can be successfully launched and obtain market acceptance in Europe and Asia and whether European and Asian fleets would realize substantial cost reductions through the use of CNG. 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:
Quantum Investor Relations
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.