Quantum Technologies Appoints W. Brian Olson to its Board of Directors; Sets Date for 2013 Annual Meeting of Stockholders

LAKE FOREST, Calif., Dec. 21, 2012 /PRNewswire/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (the "Company") (NASDAQ: QTWW ), a global leader in natural gas, hybrid/electric and hydrogen vehicle technologies, today announced that its Board of Directors has appointed W. Brian Olson to serve on the Company's Board of Directors.  Mr. Olson has been serving as the Company's President and Chief Executive Officer since May 2012, and previously served as the Company's Treasurer and Chief Financial Officer since 2002. 

"We are pleased to have Brian join the Board," said Jonathan Lundy, Chairman of the Board. Mr. Lundy added, "Since taking over as President and Chief Executive Officer, Brian has shown tremendous integrity and leadership skills and has worked diligently on defining a clear path forward for the Company, which the Board fully endorses, and is excited about."

2013 Annual Meeting of Stockholders

The Company also announced that its 2013 annual meeting of stockholders (the "2013 Annual Meeting") will be held on April 11, 2013.  The record date, time and location of the Annual Meeting will be as set forth in the Company's proxy statement for the Annual Meeting. 

Because the date of the Annual Meeting has changed by more than 30 days from the prior year's annual meeting date, proposals of stockholders intended to be included in our proxy materials for the Annual Meeting must be received by us no later than January 31, 2013.  In addition, pursuant to the Company's bylaws, stockholders who wish to present a proposal before the Annual Meeting, but do not intend for the proposal to be included in our proxy statement, must provide written notice to the Company's Corporate Secretary no later than January 31, 2013.

Stockholder proposals must be sent to our Corporate Secretary at 25242 Arctic Ocean Drive, Lake Forest, California 92630.  Stockholder proposals must comply with the rules of the Securities and Exchange Commission and the Company's bylaws, as applicable.

About Quantum:

Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the development and production of natural gas fuel storage and system technologies, alternative fuel vehicles, and advanced vehicle propulsion systems. Quantum's portfolio of technologies includes natural gas and hydrogen storage and metering systems, electronic and software controls, hybrid electric drive systems, and other alternative fuel technologies and solutions that enable fuel efficient, low emission natural gas and hybrid, plug-in hybrid electric and fuel cell vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of natural gas, plug-in hybrid, hydrogen-powered hybrid, fuel cell, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, fleets, aerospace industry, military and other governmental agencies, and other strategic alliance partners. Quantum's wholly owned subsidiary, Schneider Power Inc., and affiliate, Asola Solarpower GmbH, complement Quantum's alternative and renewable energy presence through the development and ownership of wind and solar farms, and the manufacture of high efficiency solar modules for traditional and automotive applications. Quantum is headquartered in Lake Forest, California, and has operations and affiliations in the USA, Canada, Germany and India.

More information can be found about our products and services at http://www.qtww.com/ or you may contact:

Brion D. Tanous
Principal, CleanTech IR, Inc.
Email: [email protected]
310-541-6824

©2012 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.