LAKE FOREST, Calif., July 30, 2015 (GLOBE NEWSWIRE) -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW), a leader in natural gas storage systems, integration and vehicle system technologies, today announced it has completed and launched a revolutionary 3-tank back-of-cab CNG module with an innovative configuration that can provide up to 180 diesel gallon equivalents (DGEs). Quantum received pre-orders for this new system prior to launching its broad-scale sales and marketing campaign during the second half of 2015. The new system can be configured for 160 or 180 DGEs in a single package and incorporates a revolutionary and cost-effective 30-inch diameter storage tank. UPS is the first customer of Quantum's early production Q-Cab160TM series and recently took delivery of early-production systems for installation on Kenworth T680 series tractors.
Quantum has a history of bringing innovative CNG products to market, most recently to serve the heavy-duty over-the-road transportation market. In 2010, Quantum launched a first-of-its-kind 25" diameter type IV composite CNG tank targeted at heavy-duty Class 8 trucks requiring high capacity fuel storage solutions. In the years that followed, Quantum introduced a family of composite cylinders to satisfy a variety of customer requirements and configurations. In connection with its pursuit of a system strategy in the heavy-duty vehicle market, Quantum introduced several CNG storage modules in 2014 including its Q-CabLITETM, the lightest-weight and most storage efficient three tank back-of-cab system in the industry. Now in 2015, Quantum has established a new standard for back-of-cab storage and capacity by commercializing a 180 DGE system, offering the lightest weight and highest capacity per DGE system in the industry. While engineering new standards for CNG fuel modules, Quantum is able to offer fleet operators the needed capacity in a single module and the benefit of weight reduction and fuel efficiency.
"We are pleased to have UPS take advantage of our latest technology and system designs, enabling them to reduce weight and drive efficiency through their delivery fleet," said Brian Olson, President and CEO of Quantum. "Our intimate knowledge of CNG tanks and unique ability to engineer and commercialize our own creative tank products inside our innovative system designs, offers the industry forward looking solutions to satisfy evolving requirements to drive longer distances, minimize weight and simplify the system for servicing," concluded Mr. Olson.
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 drivetrains. Quantum produces one of the most innovative, advanced, and light‐weight 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 aftermarket 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 growth of the CNG market and acceptance of the Company's products 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:
CONTACT: Quantum Investor Relations Phone: 949-399-4555 Email: firstname.lastname@example.orgSource:Quantum Fuel Systems Technologies Worldwide Inc.