IRVINE, Calif., March 3 /PRNewswire/ --
QUANTUM Fuel Systems Technologies Worldwide, Inc., (Nasdaq: QTWW) announced
today that it will develop conceptual transportation and energy systems for
the U.S. Army's National Automotive Center (NAC) located in Warren, MI. The
systems will address a variety of fuel cell applications including vehicles,
power generation units, and the hydrogen refueling infrastructure.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010320/QUANTUMLOGO )
The NAC is showcasing several innovative technologies including QUANTUM's
products at the SAE 2003 World Congress to be held this week in Detroit,
Michigan.
"The military is seeking a transportation and energy system that is not
reliant on petroleum and that mitigates logistical problems in the
battlefield," said Alan P. Niedzwiecki, President and CEO of QUANTUM. "This
project will leverage QUANTUM's experience in the development of advanced
hydrogen fuel systems for fuel cell applications and hydrogen refueling
systems. We welcome this opportunity to develop the concepts for an entire
transportation and energy system for a potential early adopter of fuel cell
systems. This project has the potential to advance hydrogen fuel systems and
refueling infrastructure technologies into commercial markets."
"The NAC is constantly exploring new technologies to improve the
military's effectiveness in the battlefield with partners like QUANTUM," said
Dennis J. Wend, executive director of the National Automotive Center. "Fuel
cells have great promise to provide cleaner, stealthier vehicles through the
use of advanced drivetrain technologies, and to solve tactical and logistical
issues faced by the military."
QUANTUM designs, manufactures, and supplies components and integrated fuel
systems to original equipment manufacturers for use in alternative fuel
vehicles, fuel cell applications and hydrogen refueling systems. These fuel
cell applications include transportation and industrial vehicles, and
stationary and portable power generation. QUANTUM's advanced fuel systems
comprise the fuel storage, fuel metering, control, and injection of gaseous
fuels to improve efficiency, enhance power output, and optimize emissions from
fuel cell applications and internal combustion engines that operate on natural
gas, propane, or hydrogen. QUANTUM is a member of the GM fuel cell
alliance of fuel cell commercialization companies. More information about
QUANTUM can be found on its website at http://www.qtww.com .
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,
QUANTUM's expectations regarding revenues and cash from operations in future
periods. 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; QUANTUM's ability to design and market advanced
fuel metering, fuel storage and electronic control products; QUANTUM's ability
to meet OEM specifications; the success of QUANTUM's recently announced
programs with strategic partners; growth in international markets; the level
and success of QUANTUM's development programs with OEMs. Reference should
also be made to the risk factors set forth from time to time in QUANTUM's SEC
reports, including but not limited to those contained in the section entitled
"Risk Factors" in its Annual Report on Form 10-K for the fiscal year ended
April 30, 2002. QUANTUM 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, contact:
Andy Abele, Director of Business Development
+1-949-399-4527
aabele@qtww.com
Cathy Johnston, Director of Communications and Corporate Support
+1-949-399-4548
cjohnston@qtww.com
Dale Rasmussen, Investor Relations
+1-206-315-8242
drasmussen@qtww.com
(C) 2003 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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Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20010320/QUANTUMLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
Related links:
http://www.qtww.com
CONTACT:
Andy Abele, Director of Business Development,
+1-949-399-4527, aabele@qtww.com, or Cathy Johnston, Director of
Communications and Corporate Support, +1-949-399-4548,
cjohnston@qtww.com, or Dale Rasmussen, Investor Relations,
+1-206-315-8242, drasmussen@qtww.com, all of QUANTUM Fuel Systems
Technologies Worldwide, Inc.
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