Quantum Fuel -42% after key competitor, largest customer team up

|About: Quantum Fuel Systems Techno... (QTWW)|By:, SA News Editor

Quantum Fuel Systems (QTWW -41.6%) plunges after Hexagon Composites (HXGCF) establishes a joint venture with Agility Fuel Systems to supply compressed natural gas high-pressure cylinders for fuel systems to support the heavy duty natural gas truck market in North America.

In its annual report, QTWW identified Hexagon as one of its key competitors in the gaseous fuel storage market, and Agility accounted for 45% of QTWW's revenue last year and 26% of revenue in 2012; QTWW also identified Agility as one of its key competitors in compressed natural gas and hydrogen packaged fuel systems.