Quantum Fuel Systems Technologies Worldwide, Inc. (QTWW) Secures New Purchase Contract for Compressed Natural Gas Tanks
Seeking Alpha Analyst Since 2008
Quantum Fuel Systems Technologies Worldwide, Inc., an alternative energy company that develops and produces propulsion systems, energy storage technologies and alternative fuel vehicles, recently announced that it has acquired a new purchase contract for 250 ultra-light weight compressed natural gas (CNG) vehicle storage systems from a US natural gas vehicle integrator for light duty trucks.
Quantum Fuel’s carbon composite ultra-light weighted high capacity CNG tanks are the lightest tanks available in the industry. Quantum tanks allows for relatively simple vehicle integration, thus avoiding the cost of heavier structural reinforcing that is a necessity for the integration of competing heavy-weight tanks. The lighter-weight tanks also aid in lowering operation and maintenance costs, while improving gas mileage and the payload capacity. Quantum also offers the most light-weight and advanced CNG storage systems available in the world today, allowing buses and trucks to carry considerably more fuel on board and operate for longer distances without jeopardizing their payload capacity or other driving characteristics. Quantum carries more than a decade of experience in the design, manufacturing, and the deployment of light-weight gaseous fuel systems for various aerospace and automotive platforms.
“Quantum’s light-weight CNG tanks are ideal for weight-sensitive applications, providing our customers with upfront and on-going financial and operational benefits,” said Alan P. Niedzwiecki, Quantum’s President and CEO. ”We are pleased with the enthusiastic response from our customers and excited about the potential for accelerated adoption of natural gas vehicles under President Obama’s new energy policy that emphasizes domestically produced natural gas fuel, and the proposed New Alternative Transportation to Give American Solutions (NAT GAS) Act, which would give five-year tax credits to encourage the production and purchase of natural gas-powered vehicles.”
With the price of diesel and gasoline rising to more than $4.00 per gallon, and natural gas prices being at a consistent low, fleet owners will now be able to save anywhere from 30-70% of operating costs by making the shift to clean burning natural gas. Heavy-duty vehicles that are powered by natural gas can reduce greenhouse gas emissions in the air by up to 23% and can reduce 95% of particulate matter, in comparison to the usual diesel-powered models, allowing the fleets to save money and be environmentally friendly.
Quantum Fuel Systems Technologies Worldwide, Inc. is an integrated alternative energy company that strives through the development and production of propulsion systems, energy storage technologies, and alternate fuel vehicles. Its extensive portfolio of technology includes lithium-ion battery systems, electronic controls, hybrid electric drive and control systems, hydrogen storage and metering systems, and other alternative fuel technologies. The company also engages in powertrain engineering; system integration; manufacturing and assembly of packaged fuel systems; and the provision of battery control systems for vehicles and other applications; which include fuel cells, hybrids, plug-in electric hybrid, alternative fuels, and hydrogen refueling systems and stations.
For more information about the company and its products, visit their company website: www.qtww.com
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