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Meldungen 02.05.2007

2.5.2007: Meldung: Quantum Fuel Systems Technologies Worldwide, Inc.: Strategic Agreement in India

Quantum Signs Strategic Agreement for Distribution of Alternative Fuel Systems in India

Tuesday May 1, 6:00 am ET

 

IRVINE, Calif., May 1 -- Quantum Fuel Systems Technologies Worldwide, Inc. today announced that it has signed an agreement for the marketing, sales, and distribution in India of its leading alternative fuel vehicle products and systems for compressed natural gas (CNG), blends of natural gas and hydrogen, and liquid petroleum gas (LPG).

 

The Indian subcontinent is the fastest growing market for CNG and LPG systems, and is projected to double its global market share by 2012. This rapid growth in India is due to strong support from local governments and by fuel suppliers providing supporting infrastructure. The global markets for CNG and LPG are expected to exceed 8 million units by 2012, up from 3 million units in 2006.

 

The agreement is focused on bringing Quantum"s advanced alternative fuel technologies into this rapidly growing Indian market. The agreement covers Quantum"s patented high-durability gaseous fuel injectors; Type II, Type III and light-weight Type IV fuel storage tanks; fuel metering systems, electronic engine control units, and calibration strategies to meet increasingly stringent emission standards; and vehicle integration methodologies for India"s fast growing automotive and bus markets.

 

"This agreement is a key part of our strategy to accelerate our growth in the international market for alternative fuel technologies by tapping into India"s rapidly expanding market," said Alan P. Niedzwiecki, President and CEO of Quantum. "We believe that we are well-positioned to service the growing demand from the leading automakers in India for complete solutions that address durability and tighter emissions with our proven advanced technology products. Together with the low-cost Type II and Type III CNG tanks from our recently announced agreement in China, Quantum can now offer a complete line of cost-effective alternative fuel vehicle products for the international market."

 

About Quantum:

 

Quantum is a leader in powertrain engineering, system integration and manufacturing of packaged fuel systems and accessories for specialty vehicles and applications including fuel cells, hybrids, alternative fuels, hydrogen refueling, new body styles, mid-cycle vehicle product enhancements and high performance engines and drive trains for OEMs and consumers of aftermarket parts and accessories. Quantum also designs and manufactures hybrid and fuel cell vehicles. Quantum also develops and manufacturers advanced lithium-ion batteries through its partner, Advanced Lithium Power.

 

Quantum has product commercialization alliances with General Motors, AM General and Sumitomo. Quantum"s customer base includes General Motors, Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, SunLine, Yamaha, AeroVironment, and the U.S. Army.

 

More information can be found about Quantum"s products and services at www.qtww.com.

 

For more information regarding Quantum, please contact:

 

Dale Rasmussen

Investor Relations

Email: DRasmussen@qtww.com

+1-206-315-8242

 

Dr. Neel Sirosh

Chief Technology Officer

Email: nsirosh@qtww.com

+1-949-399-4698

 

©2007 Quantum Fuel Systems Technologies Worldwide, Inc.

Advanced Technology Center

17872 Cartwright Road, Irvine, CA 92614

Phone 949-399-4500 Fax 949-399-4600

 

 

Source: Quantum Fuel Systems Technologies Worldwide, Inc.

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