Quantum Announces First Delivery of Plug-In Hybrid Electric F-150 Pick Up Truck to Florida Power & Light
IRVINE, Calif., May 30, 2012 /PRNewswire/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a global leader in natural gas, hydrogen and hybrid/electric vehicle technologies, today announced that it has delivered the first pilot version of its plug-in hybrid electric (PHEV) F-150 pickup truck to Florida Power & Light Company (FPL), in association with Dow Kokam, the lithium-ion battery system supplier for the PHEV F-150.
"We are pleased to announce the first delivery of this exciting plug-in hybrid electric F-150 truck," said Brian Olson, CEO of Quantum. "In partnership with Dow Kokam, we have developed a truly innovative, unique and durable solution that provides significant advantages for fleets and utilities looking to substantially reduce their operating costs as well as their carbon footprint."
FPL is an early adopter of both PHEVs and EVs (Electric Vehicle), and operates one of the largest green fleets of any investor-owned utility in the country.
The PHEV F-150 is powered by Quantum's innovative and highly efficient "F-Drive"™ parallel plug-in- hybrid electric drive system. The "F-Drive" allows the truck to run the first 35 miles on a zero emission electric drive and then switch to an efficient hybrid drive mode, achieving 100+ mpg depending on the drive cycle and charging frequency. The PHEV F-150 incorporates fully-integrated and safety-tested lithium-ion energy storage systems from Dow Kokam.
Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the development and production of advanced vehicle propulsion systems, fuel storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes electronic and software controls, hybrid electric drive systems, natural gas and hydrogen storage and metering systems and other alternative fuel technologies and solutions that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and natural gas 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, natural gas, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, fleets, aerospace industry, military and other governmental agencies, and other strategic alliance partners. Quantum's wholly-owned subsidiary, Schneider Power Inc., and affiliate, Asola Solarpower GmbH, complement Quantum's alternative and renewable energy presence through the development and ownership of wind and solar farms, and the manufacture of high efficiency solar modules for traditional and automotive applications. Quantum is headquartered in Irvine, California, and has operations and affiliations in the USA, Canada, Germany and India.
About Dow Kokam:
Dow Kokam was established in 2009 to develop and manufacture technologically advanced and economically viable battery solutions for the transportation, defense, industrial and medical industries. Dow Kokam is owned by The Dow Chemical Company, TK Advanced Battery LLC and Groupe Industriel Marcel Dassault (Dassault). Uniting the three companies created the first battery and energy management systems manufacturer to combine the viable, scalable, large-format battery technology with the market franchise, manufacturing expertise and market knowledge necessary to become the clear partner of choice across industries.
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. These risks include the ability of Quantum to procure cost-effective and technically acceptable and reliable components and convert additional plug-in hybrid trucks, the ability of Dow Kokam and other suppliers to support the program, and the continued interest of Florida Power and Light and other customers on plug-in hybrid vehicles. Quantum 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.
More information can be found about the products and services of Quantum, Schneider Power and Asola at http://www.qtww.com/ or you may contact:
Brion D. Tanous
Principal, CleanTech IR, Inc.
©2012 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center
17872 Cartwright Road, Irvine, CA 92614
Phone 949-399-4500 Fax 949-399-4600
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