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Quantum Fuel Technologies Worldwide, Inc. (QTWW) Releases New High-Capacity Natural Gas Storage Tank For Commercial Fleets

Quantum Fuel Technologies Worldwide announced the release of its new composite compressed natural gas (CNG) tank. Use of commercial natural gas fleets, including refuse truck applications, is an expanding trend that is expected to accelerate. Quantum's new 400 Series CNG storage tank was designed utilizing customer feedback, making installation and service easier and distinguishing Quantum's composite tanks from those marketed by competing companies. The 400 Series has a Diesel Gallon Equivalency (DGE) of 26 gallons, and Quantum's composite tanks are the lightest in the industry - increasing available payload by requiring less structure for mounting support.

An incentive has been proposed by President Obama to offer a credit equivalent of 50 percent of the extra cost of purchasing natural gas-powered trucks for those buying them. Incentives like this make converting to natural gas fuel even more attractive - further inducing buyers to consider fuel that is clean burning, inexpensive, and made in the United States. Natural gas-powered trucks also offer short payback and high return on investment.

With around 140,000 refuse trucks on the road in the U.S., it is reported that a 1,300 percent increase in use of natural gas-powered refuse trucks has occurred since the 1990s. The country's largest refuse companies - Waste Management and Republic Services - are converting significant numbers of their fleets to CNG. Waste Management had 17 CNG refueling stations as of August 2011 and another 30 in the works. Republic Services had around 500 CNG-powered refuse trucks in operation as of August 2011, and the company aims to have 800 CNG trucks on the road by the end of 2012.

Quantum Fuel Systems Technologies Worldwide is a global leader in developing and producing advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. A fully integrated alternative energy company, Quantum's portfolio of technologies includes electronic controls, hybrid electric drive systems, natural gas and hydrogen storage and metering systems, and alternative fuel technologies. Quantum's subsidiary, Schneider Power Inc., and its affiliate Asola Advanced and Automotive Solar Systems GmbH add to Quantum's renewable energy presence by developing and owning wind and solar farms, as well as manufacturing high-efficiency solar modules. Quantum's customers include automotive OEMs, fleets, dealer networks, the aerospace industry, and military and other government entities.

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