Quantum Technologies Secures Significant New Customers during the First Quarter of 2015 from Multiple Industry Segments
LAKE FOREST, Calif., April 13, 2015 /PRNewswire/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a leader in natural gas storage systems, integration and vehicle system technologies, today announced that during the first quarter of 2015 it secured a significant number of new customers and received strong order flow, indicating continued adoption of natural gas solutions in the market. The continued increase in new customers and expanded business opportunities has led to a developing order bank for Quantum's fully-integrated Q-CabLITE™ and Q-RailLITE™ CNG fuel storage systems and its industry leading Q-lite® CNG storage tank.
The new customer relationships cut across several transportation areas including one of the largest shipment and logistic companies in the world, a refuse company with over 50 years in hauling materials, one of the largest private grocery chains in the US, and heavy duty dealerships for Kenworth, Freightliner and Volvo. Among the selection criteria used by certain customers in selecting Quantum's products were product and supplier choices based on the extended range, 3-tank, back-of-cab module and Quantum's well defined and prearranged system installation arrangements.
"We are pleased to be attracting new customers that have strong interest in our technologies and products that satisfy specific requirements within their respective industries," said Brian Olson, President and CEO of Quantum. "The wins are from multiple segments within the industry and demonstrate the selection process is based on common denominators within our product family, including flexibility of building fuel modules to accommodate the desired driving range and delivery and service advantages of Quantum being the manufacturer of both the storage tank and the fuel module system," concluded Mr. Olson.
Quantum's Q-RailLITE and Q-CabLITE CNG fuel modules are integrated CNG fuel systems for heavy-duty truck applications. The Q-RailLITE product line has been developed to be managed and installed on the traditional open rail-space. The Q-CabLITE product line is installed behind the cab allowing for a larger capacity of CNG. Each of these modules contain Quantum's proprietary, ultra-light Q-Lite® CNG storage cylinders, which further minimizes weight while increasing fuel capacity.
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 drive trains. 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 fully integrated natural gas storage systems, to truck and automotive OEMs and after market and OEM truck integrators. Quantum provides low emission and fast to market 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
Phone: 949-399-4555
Email: [email protected]
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.
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