Quantum Fuel Systems Technologies Worldwide, Inc., a global leader in natural gas, hydrogen and hybrid electric vehicle technologies,recently announced that it has received two new purchase orders from leading natural gas vehicle system integrators for supplying its industry-leading, ultra-lightweight carbon composite compressed natural gas (CNG) storage tanks for transportation applications. The purchase orders are valued at $2.8 Million.
"These new orders are another strong endorsement of Quantum's technology and products for natural gas vehicles, and reflect a significant opportunity in an attractive market segment," said Brian Olson, the CEO of Quantum. "Natural gas vehicles with Quantum's light-weight storage systems help to lower ownership and operational costs, while truly benefiting from the historically low prices of this domestically produced, clean fuel."
Natural gas-powered vehicles can be fueled for a third cheaper than other vehicles, and emit less smog-forming nitrogen oxide and particulates. Quantum's composite tanks are the lightest in the industry, requiring less structure for mounting support, thereby increasing payload and passenger capacity. In addition, Quantum's tanks maximize onboard storage capacity resulting in greater driving range. These advantages, in addition to ease of installation and service, distinguish Quantum's carbon composite tanks from the competing metallic tanks.