LAKE FOREST, Calif., April 21, 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 the recent introduction of a new Q-lite tank system for light-duty vehicles engaged in the service industry. Quantum has received initial orders for this system from separate customers including Kwik-Trip and Ledcor Construction.
According to the ShowTimes March issue, there were approximately 10,000 light duty natural gas vehicles either new or retrofitted in 2013. The service industry with companies like Kwik-Trip, Ledcor Construction and several other service oriented fleets, have identified methods to reduce their carbon foot-print and have started to gain economic incentive with the use of these compressed natural gas vehicles.
"The service industry is taking advantage of short distance city routes and the existing CNG infrastructure already made available on these routes," said Mr. Brian Olson, President and CEO of Quantum. "Quantum's technology and product portfolio can be easily adopted across multiple vehicle platforms and sizes and we will remain very active in leveraging our technologies into the full vehicle landscape," continued Mr. Olson.
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:
Quantum Investor Relations
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.