Quantum Inks $10.2 Million Plug-In Hybrid Development Contract

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July 8, 2009 (FinancialWire) -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW) (Current Market Cap: $69.11 Mil.) said it has signed a $10.2 million contract for development of plug-in hybrid powertrains for Fisker automobiles.

According to the company, the contract will enable Quantum to manage production validation of its Q-Drive plug-in hybrid system and ready it for volume production in 2010.

The contracted phase of development includes the continuation of engineering development and completion of validation of the powertrain and consists of high altitude, durability, hot and cold weather testing.

Quantum has developed a version of its Q-Drive system, which has been optimized to maximize the performance of the Fisker Karma, a luxury sports sedan, and the Karma S "Sunset," a car built in coupe and convertible versions.

According to Quantum, the Q-Drive includes a gasoline powered engine and generator set with a lithium ion battery pack and an electric traction motor drive system that together allow the Karma to drive 50 miles all electrically and achieve excellent fuel economy in hybrid mode.

Irvine, California-based Quantum Fuel Systems Technologies Worldwide is engaged in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles.

Quantum's portfolio of technologies includes lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies designed to enable hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles.

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