California Air Resources Board to Lease Hydrogen Fuelled Toyota Prius Vehicles
IRVINE, Calif., June 26, 2006 /PRNewswire-FirstCall via COMTEX/ -- Quantum Fuel Systems Technologies Worldwide, Inc., (Nasdaq: QTWW) today announced that it received notice from the California Air Resources Board of its intent to lease 4 hydrogen-fueled Toyota Prius hybrid vehicles. These hydrogen hybrid vehicles will be put in service by the State of California later this year as part of the California Hydrogen Highway Network (CaH2Net).
CaH2Net is a State initiative to promote the use of hydrogen as a means of diversifying our sources of transportation energy used, while ensuring environmental and economic benefits. To be implemented in three phases, the California Hydrogen Blueprint Plan outlines a path to 250 hydrogen fueling stations and 20,000 hydrogen fueled vehicles which will help set the stage for the eventual full-scale commercialization of these technologies.
Quantum's H2Hybrid package for the Toyota Prius includes an electronic multi-point hydrogen injection system, turbocharger and intercooler, compressed hydrogen fuel storage module, hydrogen fuel delivery system and Federal Motor Vehicle Safety Standards (FMVSS) crashworthy design and validation. In addition to performing in specified starting conditions and meeting certain drivability specifications, the vehicles have been designed and tested to achieve SULEV (Super Ultra Low Emissions Vehicle) emissions standards and have undergone crash testing to verify the safety of the converted vehicles. Quantum is also developing an H2Hybrid package for the Ford Escape Hybrid sport utility vehicle, in conjunction with the U.S. Army, for use as an administrative vehicle as well as a hydrogen technology demonstrator.
"Quantum is pleased to have its hydrogen hybrid Toyota Priuses selected to be part of the California Hydrogen Highway initiative. Interest in Quantum's hydrogen hybrid technologies continues to grow, with 30 hydrogen Priuses currently in operation in Southern California and 23 more now on order, including 15 that are bound for Norway," said Alan P. Niedzwiecki, President and CEO of Quantum. "We are proud to supply our California-developed alternative fuel and alternative energy technologies as solutions to the environmental and energy issues impacting the State, our nation, as well as the rest of the world. Quantum is ready today to fulfill the California Hydrogen Blueprint's plan for 20,000 hydrogen fueled vehicles."
About Quantum:
Quantum and its subsidiary, Tecstar Automotive Group, are leaders 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 has product commercialization alliances with General Motors, AM General, and Sumitomo. Quantum's customer base includes General Motors, Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, AeroVironment, and the U.S. Army.
More information can be found about Quantum's products and services at www.qtww.com.
About California Air Resources Board
The Air Resources Board is a department of the California Environmental Protection Agency. ARB's mission is to promote and protect public health, welfare, and ecological resources through effective reduction of air pollutants while recognizing and considering effects on the economy. The ARB oversees all air pollution control efforts in California to attain and maintain health based air quality standards.
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, 2005. 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
Andy Abele
Executive Director, Strategic Development
Email: aabele@qtww.com
+1-949-399-4527
(C)2006 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.
CONTACT: Dale Rasmussen, Investor Relations, +1-206-315-8242, DRasmussen@qtww.com, or Andy
Abele, Executive Director, Strategic Development, +1-949-399-4527, aabele@qtww.com,
both of Quantum Fuel Systems Technologies Worldwide, Inc.
URL: http://www.prnewswire.com
http://www.qtww.com www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved.
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KEYWORD: California INDUSTRY KEYWORD: AUT
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