Quantum Awarded Record $9.3 Million Production Order for CNG Fuel Storage Tanks
LAKE FOREST, CA--Sept. 25, 2013: Quantum Fuel Systems Technologies Worldwide, Inc. , a global leader in natural gas storage systems, integration and vehicle system technologies, today announced a record $9.3 million production contract for delivery of Q-Lite™ CNG storage tanks for heavy-duty truck applications.
"This record production contract for Quantum reflects the accelerated growth in the industry and is indicative of rapid compressed natural gas adoption within the heavy-duty truck market, especially after the release of the CWI 11.9 liter natural gas engine," said Mr. Brian Olson, President and CEO of Quantum. "We are excited to be providing cost-effective, high capacity, lightweight CNG storage solutions to enable the transition to natural gas, which at the same time is helping us continue to streamline and scale our operations to meet the increasing demand," added Mr. Olson.
Quantum's premier Q-Lite™ natural gas storage tank is specifically designed and engineered for OEM level truck applications and is the lightest and most storage efficient large diameter tank on the market.