Quantum's Affiliate, Fisker Automotive, Raises $65 Million Privately

Solidifies Position in 'Green' Automotive Marketplace

IRVINE, Calif., Sept. 10, 2008 - Quantum Fuel Systems Technologies Worldwide, Inc. , a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles, today announced that its affiliate, Fisker Automotive, Inc., a "green" American premium sports car company, has completed its Series C financing round. The funding was completed on September 4, 2008 with a total investment of $65 million. The round was led by one new investor, an affiliate of Qatar Investment Authority (QIA). Existing investors, Palo Alto Investors and Kleiner Perkins Caufield & Byers, remain and also participated.

"This privately raised money validates what Quantum has been telling investors: principally, that the quality, value proposition, and international marketplace for these products not only exist but are on the precipice of inclusion into the mainstream psyche and marketplace of any person who uses a vehicle to fulfill their transportation needs," said Alan Niedzwiecki, President and CEO of Quantum Fuel Systems Technologies Worldwide.

The money raised will be used to support the development of Fisker Automotive's first production car, the Fisker Karma. The first-of-its-kind, four-door, plug-in hybrid premium sports car was unveiled in January 2008 at the North American International Auto Show (NAIAS). Initial deliveries of the Karma, which features cutting-edge, plug-in hybrid technology penned as the Q-DRIVE and developed by Quantum exclusively for Fisker Automotive, are expected to commence in the 4th quarter of 2009 with annual production projected to reach 15,000 automobiles.

"We are extremely pleased to have closed our C financing round at this time, particularly in light of the current market conditions," said Henrik Fisker, CEO of Fisker Automotive, Inc. "This shows investors, once again, that Fisker Automotive has a solid business plan and a globally experienced automotive team with very strong investors behind the company."

The close of Series C financing for Fisker Automotive comes on the heels of the January announcement that Kleiner Perkins had made a multi-million dollar investment in the company, building on the initial investment by Palo Alto Investors.