[Source: Quantum Technologies]
Quantum's CEO Alan Niedzwiecki Named Entrepreneur of the Year
IRVINE, Calif., March 20 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW) today announced that Alan P. Niedzwiecki, the President and CEO of Quantum, along with Henrik Fisker, cofounder and CEO of Fisker Automotive Inc. and Bernhard Koehler, cofounder and COO of Fisker Automotive, were named Entrepreneurs of the Year 2009 by the Orange County Business Journal. This award, which recognizes the spirit, vision and accomplishments of outstanding entrepreneurs, was presented at the Journal's Eighth Annual Excellence in Entrepreneurship Award Ceremony held in Irvine, on March 18th, 2009.
The Orange County Business Journal honored seven entrepreneurs, six of whom, which include Alan Niedzwiecki, Henrik Fisker and Bernhard Koehler, are beating the odds in industries especially hurt by the recession. The trio has raised $94 million to develop a luxury sports sedan, the KARMA, and a coupe/convertible, the KARMA S "Sunset". The KARMA platforms are powered by clean and efficient plug-in hybrid drivetrain the Quantum Q-Drive, which provide unparalleled fuel efficiency and emissions reduction.
Production version of the KARMA sedan, unveiled in January 2009 at the North American International Auto Show (NAIAS), Detroit, was rated "Best Electric Car" by Detroit News.com, and selected by the Green Car Journal as a "2009 Green Car of the Year" nominee. The BusinessWeek magazine recognized Fisker Automotive as a top start up of 2008.
Quantum Fuel Systems Technologies Worldwide, Inc. (NasdaqGM: QTWW), 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/
Quantum is a member of the Russell 2000(R) and Russell 3000(R) indexes.
Fisker Automotive is a privately owned luxury premium hybrid car company co-founded by Quantum Technologies and Fisker Coachbuild LLC, with Henrik Fisker as the CEO. The company has backing from Kleiner Perkins Caufield & Byers, Palo Alto Investors and Qatar Investment Authority. More information can be found online at www.fiskerautomotive.com.
Statements in this document regarding future financial and operating results, future growth in customers and development programs, the development and commercialization of hybrid vehicles, hybrid vehicle specifications, new or expanded customer contracts, the commitment of suppliers and other entities to the Karma vehicle program, future opportunities for Quantum, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including but not limited to statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: variations in pricing, engineering and material costs, development costs, other general costs and expenses; other new model platforms; the ability to retain key personnel; the Company's ability to successfully execute its business strategies; growth of the hybrid vehicle market; the levels of commitment by OEMs, governments and other entities to the commercialization of hybrid and alternative fuel technologies; our dependence on a concentrated number of customers for a substantial majority of our revenues; the timing of product cycles for our OEM customers; delays in the development of a commercial market for our products; our reliance on a limited number of suppliers for raw materials used in our products; shortages of raw materials; competitive conditions in the industry; business cycles affecting the markets in which the Company conducts business; and economic conditions generally. Additional factors may be found in Quantum's Form 10-K for the year ended April 30, 2008 and in the other documents filed by Quantum with the Securities and Exchange Commission.