Quantum’s headquarters in Lake Forest, California

Quantum’s headquarters in Lake Forest, California

Quantum moves in new direc-tion

The company believes its combination of advanced tank technology and integration expertise could drive significant product orders from new customers

June 2014

Quantum Fuel Systems Technologies Worldwide, Inc, a global leader in natural gas storage systems, integration and vehicle system technologies, announced its strategic direction to service the heavy duty OEM market segment, in addition to other market segments, with natural gas storage systems.

The company recently announced a major long-term supply agreement with a major transportation company under which it will supply compressed natural gas (CNG) fuel storage tanks and module systems.  This new relationship is an early indicator of Quantum’s ability to provide the industry with fully integrated systems and at the same time diversify its existing customer base by leveraging its core expertise in advanced tank technologies and systems integration and being a one-stop-shop for OEMs and fleets for complete CNG fuel systems. 

It indicated that this strategy is the culmination of a careful and thought out plan over the past several months and is based on the company’s desired direction, feedback from market participants seeking lower cost solutions, its technology advantages, and experience and capabilities of its personnel.

Quantum has demonstrated its ability to develop cost-effective modules and systems around its industry leading tank technology for various vehicle applications, including heavy duty trucks. During 2013, it introduced rail mounted storage systems for both medium duty and heavy duty trucks, and in March 2014 it introduced an innovative light-weight back-of-cab (BOC) storage system that was first showcased at a major truck exposition by Peterbilt. These adaptable fuel storage module systems provide exceptional cost, weight and capacity per DGE (Diesel Gallon Equivalent) advantages compared to other competitive products. 

Based on these product introductions, the company has received strong interest for its BOC system and other derivative system configurations based on combining its rail mounted systems with its BOC system. It is currently expanding its tank and CNG storage system production capacity for both rail-mounted and BOC systems to meet third-quarter production readiness. It will continue to provide key customers pre-production units leading up to the meaningful production levels targeted in the second half of calendar 2014. Quantum will also continue to leverage specific relationships to assemble and install these systems on vehicles in facilities and with companies already located next to OEM customers.

“We are currently positioned to take full advantage of our core strengths and provide complete fuel storage modules to the heavy duty and medium duty truck industry and provide exceptional value to our targeted customers,” commented Brian Olson, president and CEO of Quantum. “We anticipate that the combination of our advanced tank technology and integration expertise, which we believe is unmatched in the industry, will drive significant levels of product orders from new customers in the coming months and that we are well positioned to be a significant supplier of fuel storage systems to the heavy duty trucking industry.”

Quantum further stated in response to a recent announcement by Agility Fuel Systems, that Agility has an existing purchase order in place with the company and both parties have communicated their intent to honour these arrangements and extend the purchase arrangement at least through December 31, 2014 to ensure uninterrupted deliveries to the existing customer base.  

Quantum is headquartered in Lake Forest, California (US) and has operations and affiliations in the United States, Canada, and India.

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