Quantum Awarded $30 Million Contract to Supply Key Components and Sub-Systems Related to Q-Drive Plug-In Hybrid Powertrain Systems
Tuesday, September 7, 2010
IRVINE, Calif., Sept. 7 -- Quantum Fuel Systems
Technologies Worldwide, Inc. announced today
that it has received a $30 million purchase
order for supplying key components and
subsystems related to Quantum's proprietary
Q-Drive™ powertrain systems for the Fisker
Karma production program under the terms of its
supply agreement. Under this first-release
production purchase order, Quantum will supply
components and systems to support the early
vehicle builds that will ramp up to production
volumes in 2011. Quantum recently signed a
Supply Agreement with Fisker Automotive to
supply key components and control systems for
the Q-Drive powertrain system that is being
incorporated into the Fisker
Karma.
"Quantum is excited to be
receiving a volume production order from Fisker
and supporting the introduction of this luxury
high performance plug-in hybrid sedan," said
Alan P. Niedzwiecki, the President and CEO of
Quantum.
Fisker Automotive, the
green American car company that Quantum
co-founded, closed a Department of Energy loan
for $528.7 million in April 2010. This DOE loan
to Fisker will be used for the development and
production of two models of plug-in hybrid
electric vehicles, including the Karma, a four
door sports sedan, and a line of
family-oriented models being developed under
Fisker's Project Nina program.
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 wholly owned subsidiary, Schneider
Power Inc., complements Quantum's emerging
renewable energy presence through the
development and ownership of wind and solar
farms. Quantum's portfolio of technologies
includes 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 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, 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/.
About Fisker
Automotive
Fisker Automotive,
co-founded by Quantum and Fisker Coachbuild, is
a privately owned, premium American car company
with a vision to lead the automotive industry
into the next-generation of automobiles with
high-end design expertise and eco-friendly
powertrain technology. Global headquarters is
in Irvine, California, USA. The company was
created in 2007 to leverage the design
capabilities of Fisker Coachbuild, LLC, founded
by auto design veterans Henrik Fisker and
Bernhard Koehler, and the PHEV powertrain
capabilities of Quantum Fuel Systems
Technologies Worldwide, Inc. Previously,
Fisker, CEO, was design director for Aston
Martin and president and CEO of BMW's
DesignworksUSA. Koehler, COO, led operations
for Ford's Global Advanced Design Studio and
created concept cars for Aston Martin, MINI and
BMW. More information can be found about Fisker
Automotive at www.fiskerautomotive.com.