LAKE FOREST, Calif., April 2, 2015 /PRNewswire/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a leader in natural gas storage systems, integration and vehicle system technologies, today announced it has received an order from UPS for 319 fuel systems for UPS' heavy duty CNG vehicle program. The issuance of purchase orders will be coordinated through two OEMs and their installation partners.
The delivery dates under this award are scheduled to begin in mid- 2015 and will include the recently released versions of Quantum's Q-CabLITE and Q-RailLITE storage systems, as well as delivery in the September time-frame of a version of Quantum's soon to be released next-generation, innovative back-of-cab storage system providing the highest storage capacity of any back-of-cab CNG system currently available in the industry. These new systems will offer unparalleled light weight technology which includes Quantum's industry leading Q-Lite® CNG storage tanks.
"UPS is a leading force and participant in natural gas vehicle adoption and fleet operation in the United States and Quantum is proud to be able to support them in advancing their natural gas vehicle programs with a lower cost, domestic fuel – natural gas," said Mr. Brian Olson, President and CEO of Quantum. "We are excited to be working alongside and supporting UPS on this exciting program and the unveiling of our next-generation back-of-cab storage system technology," concluded 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 lightweight compressed natural gas storage tanks in the world and supplies these tanks, in addition to fullyintegrated natural gas storage systems, to truck and automotive OEMs and aftermarket and OEM truck integrators. Quantum provides low emission and fasttomarket 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 cancellation of orders, the acceptance of the Company's products, the anticipated timing of new product releases, and other risk factors that the Company discloses in its filings with the Securities and Exchange Commission. 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
Email: [email protected]
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.