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.
The Hydrogen Hybrid package for the Toyota Prius includes Quantum's electronic multi-point hydrogen injection system, turbocharger and intercooler, Quantum's compressed hydrogen fuel storage module and hydrogen fuel delivery system, and Federal Motor Vehicle Safety Standards (FMVSS) crashworthy design and validation. The eleven vehicles in this shipment were equipped with an extended range package, which was engineered by Quantum to provide additional hydrogen storage capacity and a resulting 30 percent increase in vehicle driving range between refueling. In addition to performing in specified starting conditions and meeting certain drivability specifications, these vehicles were designed to meet European safety standards, including the successful completion of crash testing to verify the safety of the converted vehicles.
"Quantum's hydrogen hybrid Toyota Prius continues to generate interest from around the world as a clean, fuel efficient alternative to petroleum fueled vehicles," said Alan P. Niedzwiecki, President and CEO of Quantum. "We believe that opportunities will continue to emerge to supply additional vehicles to HyNor, the Scandinavian Hydrogen Highway Partnership, and the rest of Europe."
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, 2006. 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.