LAKE FOREST, Calif., Sept. 25, 2013 /PRNewswire/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a global leader in natural gas storage systems, integration and vehicle system technologies, today announced a record $9.3 million production contract for delivery of Q-Lite™ CNG storage tanks for heavy-duty truck applications.
"This record production contract for Quantum reflects the accelerated growth in the industry and is indicative of rapid compressed natural gas adoption within the heavy-duty truck market, especially after the release of the CWI 11.9 liter natural gas engine," said Mr. Brian Olson, President and CEO of Quantum. "We are excited to be providing cost-effective, high capacity, lightweight CNG storage solutions to enable the transition to natural gas, which at the same time is helping us continue to streamline and scale our operations to meet the increasing demand," added Mr. Olson.
Quantum's premier Q-Lite™ natural gas storage tank is specifically designed and engineered for OEM level truck applications and is the lightest and most storage efficient large diameter tank on the market.
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. 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
CleanTech IR, Inc.
©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.