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Monday October 6, 9:30 am ET
IRVINE, Calif., Oct. 6 /PRNewswire-FirstCall/ -- Quantum Fuel Systems
Technologies Worldwide, Inc. (Nasdaq: QTWW - News) today announced that it has
designed, developed and shipped a new generation of hybrid electric vehicles
incorporating hydrogen internal combustion engines to the US Army Tank
Automotive Research Development and Engineering Center (TARDEC) for deployment
at the Selfridge Air National Guard Base (SANGB). This deployment is part of a
larger test and demonstration program involving TARDEC joint service partners
around the country, in support of the US Army's 21st Century Base Initiative.
The hydrogen powered vehicles will reduce emissions and provide an opportunity
to verify and utilize the existing hydrogen refueling infrastructure. This
delivery to SANGB continues the work of TARDEC to develop and demonstrate
hydrogen technologies to assist in achieving its environmental and energy
goals while advancing the commercialization of hydrogen technologies.
Exercising hydrogen infrastructure and storage technologies help determine the
commercial and military readiness for future deployments.
The hydrogen powered hybrid vehicles will be operated by the Army personnel and refueled at a Chevron Hydrogen station located at SANGB. The vehicles were evaluated under a rigorous Hazard and Operability (HAZOP) review to ensure safe refueling and operation at the base. Cold weather performance data will be collected and evaluated as part of this project. Initially three hybrid electric vehicles will be tested at SANGB for a period of 1 year. These three are the first batch of eleven that have been ordered by the US Army from Quantum, under a contract administered by the Aerospace Engineering Spectrum (AES). Three additional vehicles will be deployed at SANGB; with the remaining five deployed at other TARDEC joint service partners around the country.
The hydrogen hybrid electric vehicles utilize the Ford Escape platform and incorporate Quantum's advanced hydrogen system, including fuel injectors, fuel flow and pressure management systems, light-weight carbon fiber composite hydrogen storage systems and electronic vehicle management systems. The vehicles were developed at Quantum's advanced vehicle concept center in Lake Forest California. This center houses a state of the art engine development facility including in-house emission measurement capabilities and hybrid electric powertrain development capabilities.
"We are pleased and honored to support TARDEC in their advanced vehicle initiatives to reduce petroleum dependence, while supporting our troops," said Alan P. Niedzwiecki, President and CEO of Quantum. "This project provides us with a great opportunity to continue to showcase our hydrogen and hybrid electric technologies to the US Army. We look forward to building on this relationship to develop additional enhanced vehicle platforms for the US Army."
According to Harold Sanborn, TARDEC's Energy Infrastructure Team leader, "Our military's energy and fuel security begins with leveraging the significant commercial and federal resources being developed that expand our options to support our installations and our war fighters while being good stewards of the environment and progressive partners to the surrounding communities in which we work."
DISTRIBUTION STATEMENT A. Approved for public release; distribution is unlimited.
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, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
Quantum has co-founded a "green American car company" 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. "Fisker Karma" launched at the Detroit International Auto Show in January, 2008, incorporates an advanced solar-photovoltaic roof designed by Asola. More information is available at http://www.fiskerautomotive.com.
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 Asola and Quantum; Asola's ability to secure solar cells and 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, Asola's ability to expand production, the overall expansion of the solar industry, and general economic conditions. 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, 2008. 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.
The hydrogen powered hybrid vehicles will be operated by the Army personnel and refueled at a Chevron Hydrogen station located at SANGB. The vehicles were evaluated under a rigorous Hazard and Operability (HAZOP) review to ensure safe refueling and operation at the base. Cold weather performance data will be collected and evaluated as part of this project. Initially three hybrid electric vehicles will be tested at SANGB for a period of 1 year. These three are the first batch of eleven that have been ordered by the US Army from Quantum, under a contract administered by the Aerospace Engineering Spectrum (AES). Three additional vehicles will be deployed at SANGB; with the remaining five deployed at other TARDEC joint service partners around the country.
The hydrogen hybrid electric vehicles utilize the Ford Escape platform and incorporate Quantum's advanced hydrogen system, including fuel injectors, fuel flow and pressure management systems, light-weight carbon fiber composite hydrogen storage systems and electronic vehicle management systems. The vehicles were developed at Quantum's advanced vehicle concept center in Lake Forest California. This center houses a state of the art engine development facility including in-house emission measurement capabilities and hybrid electric powertrain development capabilities.
"We are pleased and honored to support TARDEC in their advanced vehicle initiatives to reduce petroleum dependence, while supporting our troops," said Alan P. Niedzwiecki, President and CEO of Quantum. "This project provides us with a great opportunity to continue to showcase our hydrogen and hybrid electric technologies to the US Army. We look forward to building on this relationship to develop additional enhanced vehicle platforms for the US Army."
According to Harold Sanborn, TARDEC's Energy Infrastructure Team leader, "Our military's energy and fuel security begins with leveraging the significant commercial and federal resources being developed that expand our options to support our installations and our war fighters while being good stewards of the environment and progressive partners to the surrounding communities in which we work."
DISTRIBUTION STATEMENT A. Approved for public release; distribution is unlimited.
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, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
Quantum has co-founded a "green American car company" 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. "Fisker Karma" launched at the Detroit International Auto Show in January, 2008, incorporates an advanced solar-photovoltaic roof designed by Asola. More information is available at http://www.fiskerautomotive.com.
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 Asola and Quantum; Asola's ability to secure solar cells and 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, Asola's ability to expand production, the overall expansion of the solar industry, and general economic conditions. 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, 2008. 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:
At the Company:
Dale Rasmussen
Investor Relations
DRasmussen@qtww.com
1-206-315-8242
Investor Relations:
RedChip Companies, Inc.
Sanford Diday
1-800-REDCHIP (733-2447, Ext. 115)
info@redchip.com
http://www.redchip.com
©2008 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center
17872 Cartwright Road, Irvine, CA 92614
Phone 949-399-4500 Fax 949-399-4600
For Further Information, Contact:
Aurelius Consulting Group, Inc., Century Bank Building,
500 Winderley Place, Suite 100, Orlando, FL 32751, (407) 644-4256,
Fax: (407) 644-0758, info@aurcg.com
Aurelius Consulting Group, Inc., Century Bank Building,
500 Winderley Place, Suite 100, Orlando, FL 32751, (407) 644-4256,
Fax: (407) 644-0758, info@aurcg.com
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Disclaimer: Quantum Fuel Systems Technologies Worldwide, Inc. is a client of RedChip Companies, Inc. RedChip Companies has been contracted by QTWW to increase investor awareness of QTWW to the small-cap equity community. These services may include investor conferences and digital and print distribution of QTWW investor related materials. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that RedChip Companies is an investor relations firm hired by the Company and receives a monthly fee of 15,000 in cash for investor relations services.