The U.S. Army has ordered six hydrogen hybrid vehicles from Quantum Fuel Systems Technologies Worldwide, the company announced today. The press release (read it after the jump) doesn't specify what type of vehicles these are/will be, but they will be used by TARDEC, the Army's Tank Automotive Research, Development and Engineering Center. Doesn't take too much thinking to realize that if these Quantum vehicles aren't tanks, then the Army is at least looking to move the technology into tanks in the future. You tax dollars at work.
Quantum has been working with the Army on other projects. See these links:
Quantum Receives Order for Hydrogen Hybrid Vehicles for U.S. Army
IRVINE, Calif., Oct. 22 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW) today announced that it received an order for six hydrogen hybrid vehicles for the U.S. Army's Tank Automotive Research, Development and Engineering Center (TARDEC). The contract will be administered by Aerospace Engineering Spectrum (AES), based in Ogden, Utah.
This order is a follow on to Quantum's successful completion of the development of a Ford Escape Hydrogen Hybrid for TARDEC, incorporating Quantum's advanced hydrogen fuel injection system and ultra-lightweight hydrogen storage system. The six Ford Escape Hydrogen Hybrids will be placed into service as administrative fleet vehicles at two military facilities in North America. This deployment will support the U.S. Army and its 21st Century Base initiative.
"We are pleased to be able to support TARDEC in expanding its hydrogen vehicle program. This contract exemplifies the U.S. Army's leadership as an early adopter of advanced technologies that will reduce petroleum dependence and fuel consumption while supporting the efforts of our troops," said Alan P. Niedzwiecki, President and CEO of Quantum. "With oil prices as high as $80 a barrel, interest continues to grow worldwide in Quantum's hydrogen hybrid vehicles as near-term alternatives to reduce emissions and petroleum usage through the implementation of hydrogen technologies."
About Quantum:
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel 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, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
More information can be found about Quantum's products and services at http://www.qtww.com/.
Forward Looking Statements
Except for historical information, the statements, expectations, and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company's expectations regarding expected future revenues and operating results; future opportunities for Quantum; the Company's ability to fulfill orders in the future; and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include, among other factors, prevailing market conditions; the Company's ability to design and market automotive products; the Company's ability to meet customer specifications and qualification requirements; availability of component parts and raw materials that meet the Company's requirements; and the Company's ability to source alternative materials and suppliers. Reference should also be made to the risk factors set forth from time to time in the Company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2007. The Company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.
Quantum has been working with the Army on other projects. See these links:
- Army ready to test diesel-electric hybrid Aggressor vehicle
- U.S. Army looks to Quantum for mobile hydrogen refuelling
Quantum Receives Order for Hydrogen Hybrid Vehicles for U.S. Army
IRVINE, Calif., Oct. 22 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW) today announced that it received an order for six hydrogen hybrid vehicles for the U.S. Army's Tank Automotive Research, Development and Engineering Center (TARDEC). The contract will be administered by Aerospace Engineering Spectrum (AES), based in Ogden, Utah.
This order is a follow on to Quantum's successful completion of the development of a Ford Escape Hydrogen Hybrid for TARDEC, incorporating Quantum's advanced hydrogen fuel injection system and ultra-lightweight hydrogen storage system. The six Ford Escape Hydrogen Hybrids will be placed into service as administrative fleet vehicles at two military facilities in North America. This deployment will support the U.S. Army and its 21st Century Base initiative.
"We are pleased to be able to support TARDEC in expanding its hydrogen vehicle program. This contract exemplifies the U.S. Army's leadership as an early adopter of advanced technologies that will reduce petroleum dependence and fuel consumption while supporting the efforts of our troops," said Alan P. Niedzwiecki, President and CEO of Quantum. "With oil prices as high as $80 a barrel, interest continues to grow worldwide in Quantum's hydrogen hybrid vehicles as near-term alternatives to reduce emissions and petroleum usage through the implementation of hydrogen technologies."
About Quantum:
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel 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, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
More information can be found about Quantum's products and services at http://www.qtww.com/.
Forward Looking Statements
Except for historical information, the statements, expectations, and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company's expectations regarding expected future revenues and operating results; future opportunities for Quantum; the Company's ability to fulfill orders in the future; and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include, among other factors, prevailing market conditions; the Company's ability to design and market automotive products; the Company's ability to meet customer specifications and qualification requirements; availability of component parts and raw materials that meet the Company's requirements; and the Company's ability to source alternative materials and suppliers. Reference should also be made to the risk factors set forth from time to time in the Company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2007. The Company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.
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