Quantum wins contract to build 200 CNG storage systems

Source: Quantum Fuel Systems

Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq:QTWW) has secured a purchase contract for 200 additional ultra-light weight high capacity compressed natural gas (CNG) storage systems from a large US natural gas vehicle integrator of light-duty trucks. 

With the price of natural gas projected to stay relatively low for the foreseeable future, the pace of conversion to natural gas fuel has accelerated, driving up demand for Quantum's carbon composite high capacity CNG storage systems, which are the lightest in the industry. Quantum tanks enable relatively simple vehicle integration, allowing elimination of heavy structural reinforcement that is necessary to integrate competing heavier tanks. 

Light-weight tanks also help to lower operation and maintenance costs and to improve gas mileage and payload capacity. Lightweight tanks enable trucks and buses to carry significantly more fuel on board and operate for long distances without compromising their payload capacity or driving characteristics. 

With the price of gasoline and diesel near $4.00/gallon, and natural gas prices consistently staying low, fleet owners can now save 30-70% of the operating costs by shifting to clean burning natural gas. According to the California Energy Commission, natural gas-powered heavy duty vehicles reduce greenhouse gas emissions by up to 23% and particulate matter by up to 95% compared to conventional diesel-powered models, so fleets can save money and be green.

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