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Quantum's Hydrogen Vehicles Featured at Statoil Opening of Norway's First Hydrogen Station


September 2006
 Filed under: HYBRID TECHNOLOGY Car News | HYBRID TECHNOLOGY Headlines
IRVINE, Calif., Sept. 7 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc., (NASDAQ:QTWW) today announced the delivery of the first four of fifteen hydrogen-fueled Toyota Prius hybrid vehicles to Miljobil Grenland AS, a participant and vehicle provider to the Norwegian Hydrogen Highway (HyNor).
Quantum's hydrogen fueled Priuses were featured at the dedication of the first hydrogen fuel station opened on the outskirts of Stavanger, Norway by Statoil ASA, the Norwegian state-controlled oil company. Quantum's Chairman, Mr. Dale Rasmussen, and President and CEO, Mr. Alan P. Niedzwiecki, participated in this grand opening event, along with dignitaries from Miljobil, Norsk Hydro, the Norwegian government, and Statoil.

The Stavanger hydrogen filling station for motor vehicles opened as the first step in creating a clean-air highway in southern Norway. The Norwegian government, industry participants, and the organizations participating in a joint effort called HyNor plan on creating a "Hydrogen Highway" between the capital, Oslo, and western Norway's port of Stavanger. The Norwegian HyNor plan calls for five refueling stations along the main highway from Oslo to Stavanger, the center of the national petroleum industry that makes Norway the world's third largest oil exporter, after Saudi Arabia and Russia. By 2009, HyNor plans to have enough fueling stations along the 580-kilometer (360 mile) route to allow hydrogen-powered vehicles to routinely make the trip. The ultimate goal is to extend the hydrogen infrastructure network through much of Scandinavia under the Scandinavian Hydrogen Highway Partnership, a joint organization formed by HyNor, Sweden's HyFuture, and Denmark's Hydrogen Link earlier this year.

"Quantum is proud to be the supplier of the first hydrogen vehicles to be driving on Norway's 'Hydrogen Highway,'" said Dale Rasmussen, Chairman of the Board of Quantum. "We are excited to participate with Miljobil Grenland, Norsk Hydro, Statoil, and the Norwegian government in building the foundation for one of the most progressive public-private hydrogen partnerships in the world."

"We look forward to supporting the HyNor program as we deliver the remaining hydrogen Priuses on order," added Alan P. Niedzwiecki, President and CEO of Quantum. "The hydrogen hybrid Priuses, developed with co-funding from the South Coast Air Quality Management District, are generating increasing interest from around the world as clean, fuel efficient alternatives to petroleum fueled vehicles. Based on the enthusiastic reception we received at the grand opening of the Stavenger hydrogen station, we believe that opportunities will emerge to supply additional vehicles to HyNor, the Scandinavian Hydrogen Highway Partnership, and the rest of Europe."

About Quantum:

Quantum and its subsidiary, Tecstar Automotive Group, are leaders in powertrain engineering, system integration, and manufacturing of packaged fuel systems and accessories for specialty vehicles and applications including fuel cells, hybrids, alternative fuels, hydrogen refueling, new body styles, mid-cycle vehicle product enhancements and high performance engines and drive trains for OEMs and consumers of aftermarket parts and accessories. Quantum also designs and manufactures hybrid and fuel cell vehicles.

Quantum has product commercialization alliances with General Motors, AM General, and Sumitomo. Quantum's customer base includes General Motors, Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, AeroVironment, and the U.S. Army.

More information can be found about Quantum's products and services at www.qtww.com

Forward Looking Statements

Except for historical information, the statements, expectations, and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company's expectations regarding expected future revenues and operating results; future opportunities for Quantum; the Company's ability to fulfill orders in the future; and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include, among other factors, prevailing market conditions; the Company's ability to design and market automotive products; the Company's ability to meet customer specifications and qualification requirements; availability of component parts and raw materials that meet the Company's requirements; and the Company's ability to source alternative materials and suppliers. Reference should also be made to the risk factors set forth from time to time in the Company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2005. The Company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.


Source: Quantum Fuel Systems Technologies Worldwide, Inc.

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