U.S. Army Awards Quantum Follow-On Contract for Hydrogen Refueler
IRVINE, Calif., Nov. 9, 2005 -- Quantum Fuel Systems Technologies Worldwide, Inc., today announced that it received a contract from the U.S. Army's National Automotive Center (NAC) for an additional HyHauler Plus(TM) transportable hydrogen refueling station. This contract represents an expansion of Quantum's Mobile Hydrogen Infrastructure program with the U.S. Army that will demonstrate "in-time" solutions to meet emerging hydrogen fuel demand as fuel cell technologies are deployed throughout the military as part of the 21st Century Base initiative.
The Quantum manufactured HyHauler Plus(TM) is a large trailer-mounted hydrogen fuel dispensing system, specifically designed to provide fast fills in less than 3 minutes. The HyHauler Plus(TM) utilizes an on-board electrolyzer to generate hydrogen from water and electricity. The complete refueling system includes the electrolyzer, a high-pressure hydrogen compressor, high-pressure hydrogen storage cascade, user-friendly dispensing system, and integrated balance-of-plant. The easy-to-use dispensing system interfaces with the vehicle utilizing an on-board touch screen control system. The Quantum-Tecstar developed hydrogen refueler can be towed by a full-size pickup truck.
"The HyHauler Plus(TM) demonstrates a modular and transportable solution for providing hydrogen refueling infrastructure for fuel cell vehicles, hydrogen internal combustion engine powered vehicles, and portable power systems," said Dennis Wend, Executive Director of the NAC. "We have been very pleased with the performance of the first Quantum unit and look forward to siting both systems at military bases to demonstrate hydrogen infrastructure solutions that could support fuel cell technologies as they are deployed."
"We designed the HyHauler Plus(TM) as a "just-in-time" solution for the Army to provide rapid refueling as hydrogen-powered vehicles begin to emerge," said Alan Niedzwiecki, President and CEO of Quantum. "This is an example of the U.S. Army's leadership as an early adopter of advanced technologies, which we believe could ultimately accelerate the commercialization of fuel cells."
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 the NAC
The National Automotive Center (NAC), founded in 1992, is the Department of Defense/Army focal point for collaborative ground vehicle research and development. The NAC, located at the Tank-automotive and Armaments Command (TACOM), is an integral part of the Army's Tank-Automotive Research, Development and Engineering Center (TARDEC). The NAC serves as a catalyst linking industry, academia and government agencies in the development and exchange of automotive technologies. The NAC leverages government, commercial industry and academia R&D investments, and initiates shared automotive technology programs. Its primary focus is to benefit current and future military ground vehicle systems through: performance improvements, service life extensions, and reduction in ground vehicle design/manufacturing/ production/operation/support costs.
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 +1-206-315-8242 Andy Abele Executive Director, Strategic Development +1-949-399-4527 firstname.lastname@example.org (C)2005 Quantum Fuel Systems Technologies Worldwide, Inc. Advanced Technology Center 17872 Cartwright Road, Irvine, CA 92614 Phone 949-399-4500 Fax 949-399-4600