Monday March 31, 6:00 am ET
IRVINE, Calif., March 31 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc., (NasdaqGM: QTWW) today announced that it has been awarded a contract from Shell Hydrogen LLC for a modular hydrogen refueling station. The unit will be sited by Shell Hydrogen at a yet to be determined location within the United States.
Quantum will supply one of its modular, portable, and transportable hydrogen refueling stations together with a hydrogen storage cascade. The system incorporates an oil-free gas compression system to deliver hydrogen at high-pressure from the storage cascade. This refueling appliance will provide both 35 MPa (5,000 psi) and 70 MPa (10,000 psi) fill capabilities.
"Quantum's hydrogen refueling stations, integral elements of our alternative energy product portfolio, are cost-effective, just-in-time modular solutions to deliver hydrogen to hydrogen powered vehicles as their demand continues to grow around the world. We are pleased to support Shell Hydrogen in its efforts to establish the foundation of a hydrogen refueling network," said Alan P. Niedzwiecki, President and CEO. "Our modular hydrogen refueling stations are designed to support our customers as they advance their hydrogen and fuel cell vehicle initiatives."
About Quantum:
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
Quantum has also formed a new company with Fisker Coachbuild, LLC, which is called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as "Q-Drive," into a unique chassis that will enable optimizing the performance and vehicle dynamics.
More information can be found about Quantum's products and services at http://www.qtww.com.
Forward Looking Statements
Except for historical information, the statements, expectations, and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company's expectations regarding expected future revenues and operating results; future opportunities for Quantum; the Company's ability to fulfill orders in the future; and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include, among other factors, prevailing market conditions; the Company's ability to design and market automotive products; the Company's ability to meet customer specifications and qualification requirements; availability of component parts and raw materials that meet the Company's requirements; and the Company's ability to source alternative materials and suppliers. Reference should also be made to the risk factors set forth from time to time in the Company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2007. The Company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.
For more information regarding Quantum, please contact:
Dale Rasmussen
Investor Relations
Email: DRasmussen@qtww.com
+1-206-315-8242
Investor Relations:
RedChip Companies, Inc.
Sanford Diday
1-800-REDCHIP
1-407-644-4256 x 115
info@redchip.com
http://www.redchip.com
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100, Orlando, FL 32751,
(800) 733-2447,Fax: (407) 644-0758,
info@redchip.com
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