Quantum Signs Supply Agreement for Plug-In Hybrid Electric Traction Motors
IRVINE, Calif., May 18, 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 signed a supply agreement with Remy International Inc. for its high performance electric traction motors for the Quantum’s Plug-In Hybrid Electric (PHEV) F-150, that is based on America’s best-selling pickup truck, the Ford F-150.
“We are pleased to secure Remy and other leading suppliers for our plug-in hybrid electric fleet truck program,” said Brian Olson, Quantum’s CEO. “Quantum is committed to providing a reliable, efficient and cost-effective product to our customers, and Remy will help us meet our goals through their high volume automotive-grade electric motors and strong partnership.”
Kevin Quinn, Remy Electric Motors VP/General Manager, commented, “Quantum is a very innovative company, and the PHEV F-150 program is just another great example of their capabilities and drive to move the technology forward. Remy is extremely pleased to be part of their success.”
Quantum will integrate the Remy HVH250 traction motor into its “F-Drive” parallel hybrid system that delivers an all-electric range of 35 miles and a hybrid operational range of 400 miles. The PHEV F-150 will have similar performance to the conventional Ford F150 gasoline powered pick-up truck; however, it will operate with zero emissions and zero petroleum fuel consumption for the first 35 miles. After which, its hybrid mode will operate with over a 25% decrease in fuel consumption and over 60% reduction in emissions.
The vehicles were specifically designed for corporate fleets, including current customers Florida Power & Light and The Dow Chemical Company. The F-150 PHEV comes standard with 4WD, but can also be operated in 2WD mode. The vehicle has a payload of up to 900 lbs. and a towing capacity of 5,800 lbs., making it a good choice for truck fleets requiring the performance potential of an electric drive system combined with the utility value of a light-duty pickup truck.
Quantum Fuel Systems Technologies Worldwide, Inc. (“Quantum”) develops, manufactures and sells lightweight natural gas and hydrogen storage systems as well as advanced powertrain components for hybrid/electric and alternative fuel vehicles. Quantum has manufactured in excess of 20,000 natural gas vehicles for General Motors, supplied in excess of 2,500 hydrogen systems to leading global automakers and shipped 3,000 plug-in hybrid electric drive system component sets, including those to Fisker Automotive – a company co-founded by Quantum in 2007. In addition to own vehicle designs for the Military and commercial applications Quantum provides engineering services and powertrain components to automakers for use in natural gas, hybrid/electric and hydrogen vehicles. Quantum’s wholly owned subsidiary, Schneider Power Inc., and affiliate Asola Solarpower GmbH complement Quantum’s emerging renewable energy presence through the development and ownership of wind and solar farms, and manufacture of high efficiency solar modules for automotive and commercial use. Quantum is headquartered in Irvine, California, and has operations and affiliations in the USA, Canada, Germany, India and China.
About Remy International:
Remy International Inc. traces its origins to 1896, when the Remy Brothers founded a wiring business in Anderson, Ind. Today, Remy International, Inc. is a leading global manufacturer and remanufacturer of alternators, starter motors, and electric traction motors, headquartered in Pendleton, CA. With global operations across four continents and 10 countries, Remy International markets products under the Remy® and Delco Remy® trademarks. Known for innovation, efficiency, quality, and best-in-class customer service and support, Remy International’s products are integrated by leading industrial, specialty, automotive, and heavy-duty OEMs and aftermarket providers worldwide.
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. Risk factors include Quantum’s ability to secure materials and convert pickup trucks to meet the customer demand on time, the decisions by fleet managers to purchase plug-in hybrid trucks and the reliability and durability of underlying technology and components. 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.
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
SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.