LAKE FOREST, Calif., Aug. 26, 2015 (GLOBE NEWSWIRE) -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW), a leader in natural gas storage systems, vehicle integration and vehicle system technologies, today announced new CNG system orders, including follow-on orders from existing customers in addition to new customer wins. The systems to be delivered include Quantum's complete Q-CabLITETM and Q-RailLITETM product lines made for heavy duty truck usage including on-road, refuse and oil and gas vehicle terrain applications.
"We are seeing opportunities emerge across many segments as customers are driven by the fuel savings, their continuing commitment to natural gas, and their desire to improve the environment. In addition, some are motivated by less obvious factors such as convenient refueling opportunities in the oil and gas fields and carbon credits," said Brian Olson, President and CEO of Quantum. "Our new and existing customers are widely accepting of both the aesthetic and light-weight design of our product and the durability and ease of installation and serviceability aspects of our system technology for both the Q-Cab and Q-Rail," concluded Mr. Olson.
Quantum's Q-RailLITE and Q-CabLITE CNG fuel modules are integrated CNG fuel systems for heavy-duty truck applications. The Q-RailLITE product line has been developed to be managed and installed on the traditional open rail-space. The Q-CabLITE product line is installed behind the cab allowing for a larger and customized capacity of CNG. Each of these modules contain Quantum's proprietary, ultra-light Q-Lite® CNG storage cylinders, which further minimizes weight while increasing fuel capacity. Quantum's storage system product offering includes several back-of-cab configurations ranging from a 1 tank to 5 tank system design using different diameter tank products.
About Quantum: Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the innovation, development and production of natural gas fuel storage systems and the integration of vehicle system technologies including engine and vehicle control systems and drivetrains. Quantum produces innovative, advanced, and lightweight compressed natural gas storage tanks and supplies these tanks, in addition to fully integrated natural gas storage systems, to truck and automotive OEMs and aftermarket and OEM truck integrators. Quantum provides low emission and fast to market solutions to support the integration and production of natural gas fuel and storage systems, hybrid, fuel cell, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum is headquartered in Lake Forest, California, and has operations and affiliations in the United States, Canada, and India.
Forward Looking Statements: This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report, other than those that are historical, are forward looking statements and can generally be identified by words such as "may," "could," "will," "should," "assume," "expect," "anticipate," "plan," "intend," "believe," "predict," "estimate," "forecast," "outlook," "potential," or "continue," or the negative of these terms, and other comparable terminology. Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
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