Green Car Stocks Alert: Quantum (NASDAQ: QTWW) Enters Partnership With Linde To Supply Hydrogen Dispensing Systems
Quantum Receives Initial Purchase Order as Part of the Three-Year Partnership Covering Supply and Commissioning of Compressed Hydrogen Fueling Dispensers
Category: Investment, Renewable Energy
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LAKE FOREST, Calif. - February 4, 2013 (Investorideas.com renewable energy newswire) Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a leader in natural gas, alternative fuel systems and clean propulsion vehicle technologies, announced that it has received a purchase order from Linde LLC, an affiliate of The Linde Group, a world-leading gases and engineering company, for gaseous hydrogen refueling dispensers, as the first order under the partnership.
"We are excited about the partnership with Linde and pleased to supply state-of-the-art, high quality dispenser systems in support of Linde’s roll-out of compressed hydrogen refueling infrastructure in the USA," said Brian Olson, President and CEO of Quantum. "Quantum has been in the forefront of supplying industry-leading, high capacity, ultra-lightweight gaseous fuel storage and refueling systems to global automakers, and we are pleased to bring our technology and experience to one of the largest hydrogen suppliers in the world."
Steve Eckhardt, Linde’s program manager for hydrogen fueling said, "Linde’s partnership with Quantum leverages our industry-leading high performance hydrogen compression and fueling station technology and helps Linde meet its commitment to bring safe, reliable and fast-fueling hydrogen stations to the consumers of fuel cell vehicles. Linde is spending millions of dollars on California-based companies in the deployment of hydrogen fueling stations and this expands that investment in the State via the design and build of a critical component of the station, the hydrogen fueling dispenser. The Linde-Quantum partnership will create jobs and expand technology development in California ."
The hydrogen systems will be specially designed, built and commissioned in support of Linde’s USA-based hydrogen refueling station projects. Linde is a leader in the design, construction and operation of the most efficient and reliable hydrogen vehicle fueling systems with over 80 hydrogen fueling stations engineered and supplied around the world. The systems will support refueling at both 5,000 and 10,000 psi (35 and 70 MPa) service pressures, and will come integrated with a remote gas management system, authentication and point of sale systems. Quantum holds multiple patents related to hydrogen fueling systems, and has designed and built 13 systems for General Motors, Shell Oil, the US Army, AeroVironment/NASA and others in support of hydrogen fuel cell programs.
The Linde Group is a world-leading gases and engineering company with around 62,000 employees in more than 100 countries worldwide. In the 2011 financial year, Linde generated revenue of EUR 13.787 bn (USD 18.1 bn). The strategy of the Group is geared towards long-term profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. The Group is committed to technologies and products that unite the goals of customer value and sustainable development.
Under the "Clean Technology by Linde" label, the company offers a wide range of products and technologies that help to render renewable energy sources financially viable, and significantly slow down the depletion of fossil resources or reduce the level of CO2 emitted. This ranges from specialty gases for solar module manufacturing, industrial-scale CO2 separation and application technologies to alternative fuels and energy carriers such as liquefied natural gas (LNG) and hydrogen.
For more information go to http://www.linde.com/cleantechnology.
Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the development and production of natural gas fuel storage and system technologies, alternative fuel vehicles, and advanced vehicle propulsion systems. Quantum's portfolio of technologies includes natural gas and hydrogen storage and metering systems, electronic and software controls, hybrid electric drive systems, and other alternative fuel technologies and solutions that enable fuel efficient, low emission natural gas and hybrid, plug-in hybrid electric and fuel cell vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of natural gas, plug-in hybrid, hydrogen-powered hybrid, fuel cell, 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 Lake Forest , California , and has operations and affiliations in the USA , Canada , Germany and India .
Quantum 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 complete the design, secure materials and build refueling dispensers to meet the customer demand and the continued funding for hydrogen vehicles and infrastructure. 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 at http://www.qtww.com/ or you may contact:
Brion D. Tanous
Principal, CleanTech IR, Inc.
Linde Corporate Communications
Amy Ficon, 908-771-1491
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