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Cleantech Investor Magazine (http://cleantechinvestor.co.uk) stated: "We view Quantum Fuel Systems Technologies as an emerging leader in the development and production of advanced propulsion systems for alternatives fuel vehicles, energy storage technologies, and as a major tier 1 supplier of clean vehicle technologies to the automotive OEMs. The company is partnered with Fisker Coachbuild LLC and together these companies have developed the Karma - a plug-in hybrid electric 4-door sports sedan that uses Quantum's robust and proven powertrain solution. The company anticipates the first production units to be available in Q4 of 2009 and expects to ramp production to 15,000 vehicles in 2011. The Karma auto programme is well funded and is benefiting from the deep auto design and manufacturing expertise of Fisker Coachbuild. Unlike other high performance electric vehicle ventures, the Karma vehicle will (we believe) function as advertised and hit its production goals on time."
"The company has a second business line, through its minority ownership of the German solar energy company Asola. We believe the combined entity could generate revenues in excess of $100 million in fiscal 2010 and generate positive cash earnings."
Quantum's affiliate Fisker Automotive unveiled the Fisker Karma S ("Sunset") - powered by Quantum Technologies' Q-Drive(R) - at the 2009 North American International Auto Show (NAIAS) and was rated "Best Electric Car" by DetroitNews.com. The Karma will be showcased at the Geneva Motor show, March 5-12th. A European retail network strategy, along with vehicle options and pricing, will also be announced. The Fisker Karma was recently selected as a finalist for the Green Car Journal's 2009 Green Car Vision Award in Washington, DC.
About Quantum
Quantum Fuel Systems Technologies Worldwide, Inc. (NasdaqGM: QTWW), a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
More information can be found about Quantum's products and services at
http://www.qtww.com
Quantum is a member of the Russell 2000(R) and Russell 3000(R) indexes.
About Fisker
Fisker Automotive is a privately owned luxury premium hybrid car company co-founded by Quantum Technologies and Fisker Coachbuild LLC, with Henrik Fisker as the CEO. The company has backing from Kleiner Perkins Caufield & Byers, Palo Alto Investors and Qatar Investment Authority.
More information can be found online at www.fiskerautomotive.com.
Forward-Looking Statements
Statements in this document regarding future financial and operating results, future growth in customers and development programs, the development and commercialization of hybrid vehicles, hybrid vehicle specifications, new or expanded customer contracts, the commitment of suppliers and other entities to the Karma vehicle program, future opportunities for Quantum, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including but not limited to statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: variations in pricing, engineering and material costs, development costs, other general costs and expenses; other new model platforms; the ability to retain key personnel; the Company's ability to successfully execute its business strategies; growth of the hybrid vehicle market; the levels of commitment by OEMs, governments and other entities to the commercialization of hybrid and alternative fuel technologies; our dependence on a concentrated number of customers for a substantial majority of our revenues; the timing of product cycles for our OEM customers; delays in the development of a commercial market for our products; our reliance on a limited number of suppliers for raw materials used in our products; shortages of raw materials; competitive conditions in the industry; business cycles affecting the markets in which the Company conducts business; and economic conditions generally. Additional factors may be found in Quantum's Form 10-K for the year ended April 30, 2008 and in the other documents filed by Quantum with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, opinions, and expectations of the Company's management as of the date of this press release, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.
Contact:
At the Company:
Dale Rasmussen
Quantum Fuel Systems Technologies Worldwide, Inc. Investor Relations
Email: DRasmussen@qtww.com
1-206-315-8242
Investor Relations: RedChip Companies, Inc. Dave Gentry
1-800-733-2447, Ext. 104
Or,
Jon Cunningham
1-800-733-2447, Ext. 107
info@redchip.com
SOURCE Quantum Fuel System Technologies Worldwide, Inc.
http://www.qtww.com
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