Quantum Fuel Systems Technologies Worldwide, Inc.: Company has regained compliance
Quantum Regains Compliance After Receiving Nasdaq Notice of Violation of Shareholder Approval Rule
IRVINE, Calif., Aug. 20 / Quantum Fuel Systems Technologies Worldwide, Inc. announced today that on August 14, 2009, it received a letter from the Listing Qualifications department of The Nasdaq Stock Market notifying the Company that it violated Nasdaq Marketplace Rule 5635 and IM-5635 as a result of the debt restructuring transactions that occurred on July 10, 2009. However, the letter further states that as a result of the amendments to the transaction documents that occurred on August 3, 2009, the Nasdaq Listing Qualifications department has determined that the Company has regained compliance with the Marketplace rule and that, with this press release, the matter is now closed.
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.
More information can be found about Quantum's products and services at www.qtww.com.
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