Quantum Technologies, Inc. (Nasdaq:QTWW)

Fisker Automotive Announces a Letter of Intent for Assembly Contract With Valmet Automotive

2008-07-15T00:27:00Z

IRVINE, Calif., July 15 /PRNewswire/ -- Fisker Automotive, Inc., a green American premium car company, today announced that Valmet Automotive will manufacture its first production car, the Fisker Karma. Known for producing high quality specialty cars like the Porsche Boxster and Cayman for Porsche AG, the Finland-based contract manufacturer brings to the Fisker Karma 40 years of experience of working with OEM customers and their wide ranging engineering and production needs.

When the Fisker Karma begins rolling off the Valmet assembly line in the fourth quarter of 2009, it will mark the first ever plug-in hybrid 4 door sports sedan to hit the market. With 50 miles of electric range and more than 350 miles of total range, the Fisker Karma with its proprietary Q-DRIVE powertrain developed by Quantum Technologies, will have the potential for a fuel economy of over 100 miles per gallon (MPG) on extended drives. Boasting a top speed of 125mph and 0-60 acceleration in less than 6 seconds, the Fisker Karma is poised to be the world's first true luxury plug-in hybrid sports car.

'After an exhaustive global search, we are thrilled to have found the ideal manufacturing partner in Valmet Automotive,' said Fisker Automotive CEO, Henrik Fisker. 'Valmet offers us the quality and speed necessary to meet our production goals and given that more than half of Fisker Automotive's sales are expected to be outside of North America, Valmet represents an ideal international foothold. We do have a strategic plan to utilize an American manufacturing site for future models of the Fisker Karma.'

'It is forecasted that the market of environmentally-friendly electric vehicles will grow very fast and we are proud to be in the pole position in this growth,' says Ilpo Korhonen, President of Valmet Automotive. 'Fisker Automotive leads the way by adapting the most innovative technologies to new, environmentally-friendly premium cars. The strategic partnership with Fisker Automotive will open a new window for Valmet Automotive. Our production process can be easily adapted to the production of electric and hybrid cars and new body designs. In line with our renewed strategy, engineering will have a strong role in the cooperation.'

'Our mission at Fisker Automotive is to develop beautiful, environmentally friendly cars that make environmental sense without compromise -- be it quality-wise or cost-wise,' Fisker continued. 'Valmet Automotive has the track-record, high quality technology and has the dedicated resources to take us there, and their high tech production line with eco-friendly automated paints agrees with our ideology.'

Initial domestic deliveries of Fisker Automotive's first car, the Karma, will commence in the 4th quarter of 2009 in North America with planned delivery to Europe in 2010. Fisker Automotive's annual production is projected to reach 15,000 cars, with more than half of sales expected to be overseas.

Fisker Automotive, Inc.

Fisker Automotive is a privately owned car company with Henrik Fisker as the CEO. Fisker Coachbuild, LLC will be the exclusive design house for Fisker Automotive through the entire range of product development. The company has backing from Kleiner Perkins Caufield & Byers and Palo Alto Investors

About Quantum Technologies (Nasdaq: QTWW):

Quantum is a publicly traded, world leader and OEM supplier of state-of-the-art clean propulsion technologies, fuel and energy storage technologies and services including propulsion systems for hydrogen fuel cell vehicles, hydrogen internal combustion engine vehicles, compressed natural gas vehicles, liquid petroleum vehicles, hybrid electric vehicles and plug-in hybrids based on advanced electronic control systems and Lithium Ion batteries developed by Quantum's strategic alliance partner. Quantum also provides engineering services including vehicle development and homologation.

Valmet Automotive, Inc.

Valmet Automotive is a provider of automotive engineering and manufacturing services of premium cars. In 40 years the company has produced over 1,000,000 high-quality vehicles in Finland. The cars have been delivered worldwide. Today Valmet Automotive manufactures Porsche Boxster and Porsche Cayman for Porsche AG. The company is a part of Metso Corporation.

     Inquiries: Sylvia Navarro
     Telephone: 949-757-4230
     Fax:  714-888-4256
     info@fiskerautomotive.com

SOURCE Fisker Automotive, Inc.

Source: PR Newswire (July 14, 2008 - 7:27 PM EDT)

Quantum Technologies Reports Fiscal 2008 Fourth Quarter and Fiscal Year Financial Results

2008-06-30T21:01:00Z

IRVINE, Calif., June 30 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW), a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles and applications including hydrogen fuel cell, hybrid, plug-in hybrid, and alternative fuel vehicles, today reported results for the fourth quarter and fiscal year ended April 30, 2008. Conference call information is provided below.

Fiscal 2008 Fourth Quarter Results

Total revenue in the fourth quarter of fiscal 2008 was $9.7 million compared to $3.1 million in the fourth quarter of fiscal 2007, a net increase of 213%. The increase in total revenue was mainly due to increased hydrogen-based hybrid and fuel cell hybrid vehicle product sales and higher contract revenue. The Company's consolidated operating loss decreased from $5.3 million in the fourth quarter of fiscal 2007 to $4.6 million in the fourth quarter of fiscal 2008. The decline was primarily due to the expanded revenue base and higher gross profits on product sales and development programs.

The Quantum Fuel Systems operating segment loss decreased $1.5 million, or 58%, from $2.6 million in the fourth quarter of fiscal 2007 to $1.1 million in the fourth quarter of fiscal 2008. Corporate segment expenses increased $0.9 million, or 33%, from $2.7 million in the fourth quarter of fiscal 2007 to $3.6 million in the fourth quarter of fiscal 2008. The shared-based compensation expense related to FAS 123R was $0.7 million and depreciation and amortization expense was $1.0 million during the fourth quarter of fiscal 2008. Cash used from operations during the fourth quarter of fiscal 2008 was $0.8 million.

Product sales for the Quantum Fuel Systems segment increased $3.0 million, or 188%, from $1.6 million in the fourth quarter of fiscal 2007 to $4.6 million in the fourth quarter of fiscal 2008. Product sales during the fourth quarter of fiscal 2008 primarily consisted of hydrogen fuel storage systems for General Motors' Equinox fuel cell hybrid vehicle program and sales of hydrogen-fueled hybrid vehicles. Contract revenue for the Quantum Fuel Systems segment increased $3.5 million, or 233%, from $1.5 million in the fourth quarter of fiscal 2007 to $5.0 million in the fourth quarter of fiscal 2008. The increase was primarily due to higher development program revenues to support the Fisker Karma plug-in hybrid development program and advanced vehicle development programs for General Motors.

The Tecstar Automotive Group business segment ceased operations on January 16, 2008 upon transfer of substantially all of its assets to an affiliate of our lender. Accordingly, the activities of the Tecstar Automotive Group reporting segment are reported as discontinued operations for the fourth quarter and twelve month period ending April 30th for both fiscal 2007 and 2008. The loss from discontinued operations in the fourth quarter of fiscal 2007 was $10.7 million.

The Company's net loss from continuing operations decreased from $5.5 million, or $0.09 a share, in the fourth quarter of fiscal 2007 to $4.7 million, or $0.06 a share, in the fourth quarter of fiscal 2008. The Company's net loss decreased from $16.2 million, or $0.25 a share, in the fourth quarter of fiscal 2007 to $4.7 million, or $0.06 a share, in the fourth quarter of fiscal 2008.

Fiscal Year 2008 Results

For fiscal 2008, the Company had consolidated revenues of $26.5 million compared to fiscal 2007 revenues of $17.7 million, a net increase of 50%. The increase in revenues was primarily a result of higher development program revenues. The Company's consolidated operating loss decreased $4.6 million, or 20%, from $23.4 million in fiscal 2007 to $18.8 million in fiscal 2008.

Quantum Fuel System segment contract revenue increased $7.6 million, or 109%, from $7.0 million in fiscal 2007 to $14.6 million in fiscal 2008. The increase was due primarily to an increased level of system development and application engineering of our hybrid propulsion systems under funded automotive OEM contracts, and other funded contract work with the United States military and other government agencies. During fiscal 2008, we completed concept development services for a production intent hybrid-electric vehicle for our affiliate, Fisker Automotive and initiated a vehicle development contract with Fisker Automotive that runs though April 2009. The operating loss for the Quantum Fuel Systems segment decreased $5.1 million, or 41%, from $12.4 million in fiscal 2007 to $7.3 million in fiscal 2008. This improvement mainly relates to higher margins earned on product shipments and customer development programs due to the shift in product mix and technology focus over the last year.

Corporate segment expenses increased by $0.4 million, or 4%, from $11.0 million in fiscal 2007 to $11.4 million in fiscal 2008. Corporate expenses reported for this segment reflect the general and administrative expenses that indirectly support our ongoing Quantum Fuel Systems operating segment and our anticipated future operating segments. Corporate expenses consist primarily of personnel costs, share-based compensation costs, and related general and administrative costs for executive, finance, legal, human resources, investor relations and our board of directors. The historic proportional corporate expenses that indirectly supported the operations of the Tecstar Automotive Group are not included in the Corporate reporting segment and have been classified as part of discontinued operations on the accompanying condensed consolidated statements of operations. Included in Corporate expenses are $3.0 million and $2.6 million of share-based compensation for fiscal 2007 and 2008, respectively.

The discontinued operations of the Tecstar Automotive Group business segment generated losses, net of tax effects, of $117.9 million in fiscal 2007 compared to a loss, net of tax effects, of $66.1 million in fiscal 2008. The disposal of Tecstar resulted in a gain of $8.6 million which was recognized during the third quarter of fiscal 2008 and recorded in discontinued operations.

The Company's net loss from continuing operations decreased from $22.6 million, or $0.37 a share, in fiscal 2007 to $19.0 million, or $0.25 a share, in fiscal 2008. The Company's net loss decreased from $140.5 million, or $2.28 a share, in fiscal 2007 to $85.0 million, or $1.11 a share, in fiscal 2008.

Recent Financing and Capital Resources

On May 30, 2008, the Company received $7.5 million in proceeds under a new term note structure and secured a $10.0 million commitment letter from its lender. The Company's principal sources of liquidity amount to $23.5 million, consisting of $6.0 million of cash and cash equivalents at April 30, 2008, $7.5 million of proceeds received on the new term note and $10.0 million of available committed funding. Based on current projections and estimates, the Company believes that its working capital and principal sources of liquidity are sufficient to fund its operating activities and obligations for at least the next twelve months.

Alan P. Niedzwiecki, President and CEO, stated, 'This has been an exciting year for Quantum -- strategic investments in solar, the formation of Fisker Automotive, and improved financial results. Quantum Fuel Systems reported a significant increase in revenue in fiscal 2008, driven by strong hybrid and hydrogen vehicle product sales and the initiation of several new development programs and production-intent hydrogen, hybrid and alternative fuel vehicle programs. We plan to use the alliances established in fiscal 2008 as well as the substantial strides made in our proprietary technologies this past year as a catalyst as we begin preparation to reach production volumes on hybrid vehicle programs.

Niedzwiecki continued, 'Our strategy going forward is three-pronged: First, we plan to continue to develop and refine our packaged fuel and propulsion systems to capture new customers in a growing hydrogen and alternative fuel vehicle market. Second, we plan to leverage our technologies and systems integration capabilities in the hybrid and plug-in hybrid OEM vehicle markets to support the launch of the Fisker Karma and to expand our customer base. Finally, we plan to expand our involvement in solar businesses and alliances by assembling solar modules in the United States and assess strategic opportunities in thin film modulization as well as opportunities in solar panel distribution and integration.'

Niedzwiecki continued on the Company's solar initiatives, 'In terms of solar expansion, we are excited about Asola's expansion to 45 MWs in Germany and we continue to target additional partnerships and expansion opportunities in Europe outside of Germany. Additionally, we plan to establish a 45MW solar modulization plant in California during fiscal 2009, which we are expecting will lead to tremendous upside potential in the U.S. market.'

Niedzwiecki concluded, 'The Fisker Karma vehicle program remains on target with production expected to begin in the 4th quarter of calendar 2009. Fisker Automotive expects to produce 7,500 Karmas in calendar 2010, for which Quantum will be providing the complete plug-in hybrid propulsion system based on lithium ion battery and control system technology.'

              Quantum Fuel Systems Technologies Worldwide, Inc.
               Condensed Consolidated Statements of Operations

                           Three Months Ended               Year Ended
                                April 30,                    April 30,
                            2007         2008           2007          2008

    Revenue:
      Net product
       sales            $1,572,231   $4,619,951    $10,662,721   $11,856,277
      Contract revenue   1,527,623    5,045,687      7,015,939    14,640,885

        Total revenue    3,099,854    9,665,638     17,678,660    26,497,162

    Costs and expenses:
      Cost of product
       sales             1,205,541    3,871,317      9,483,918    10,015,622
      Research and
       development       2,845,301    5,792,330     14,146,098    17,499,221
      Selling, general
       and
       administrative    3,939,109    4,214,765     15,810,938    16,077,527
      Amortization of
       intangibles         418,481      419,022      1,674,190     1,675,835


        Total costs
         and expenses    8,408,432   14,297,434     41,115,144    45,268,205

    Operating loss      (5,308,578)  (4,631,796)   (23,436,484)  (18,771,043)

      Interest
       expense, net       (461,052)    (678,942)       (15,781)   (2,218,035)
      Minority interest
       in losses of
       subsidiaries        249,709      401,118        811,262     1,718,813
      Equity in earnings
       of affiliate              -      238,000              -       335,500
      Other income
       (expense), net       (1,258)     (13,280)         5,902       (27,443)

    Loss from continuing
     operations before
     income taxes       (5,521,179)  (4,684,900)   (22,635,101)  (18,962,208)

      Income tax expense      (400)        (400)        (1,600)       (1,600)

    Net loss from
     continuing
     operations         (5,521,579)  (4,685,300)   (22,636,701)  (18,963,808)

    Loss from
     discontinued
     operations, net
     of tax effects    (10,662,450)           -   (117,892,596)  (66,062,163)

    Net loss          $(16,184,029) $(4,685,300) $(140,529,297) $(85,025,971)

    Per share data -
     basic and diluted:
      Loss from
       continuing
       operations           $(0.09)      $(0.06)        $(0.37)       $(0.25)
      Loss from
       discontinued
       operations            (0.16)           -          (1.91)        (0.86)
      Net loss              $(0.25)      $(0.06)        $(2.28)       $(1.11)

      Number of shares
       used in per share
       calculation -
       basic and
       diluted          66,049,803   78,771,701     61,760,458    76,840,861


    Cash Flow Information
     for Continuing
     Operations:
      Depreciation and
       amortization       $956,220     $971,004     $3,922,452    $3,798,138
      Cash used in
       operating
       activities       (7,416,304)    (766,218)   (14,462,442)  (13,896,257)
      Capital
       expenditures              -     (838,444)      (208,334)   (1,630,914)


                                      April 30,     April 30,
                                        2007           2008
    Balance Sheet Information:
      Continuing Operations:
        Cash and cash
         equivalents                 $2,526,312     $6,023,715
        Current assets               14,607,977     22,741,528
        Property & equipment,
         net                          4,530,241      3,852,566
        Goodwill &
         intangibles,
         net                         39,299,465     37,420,606
        Total assets                 59,055,839     68,785,620
        Current liabilities           9,527,133     21,812,829
        Long-term debt and
         other liabilities           27,260,649     33,623,598
      Discontinued
       Operations:
        Total assets                108,487,531              -
        Total liabilities            53,226,014              -
      Stockholders' equity           77,529,574     13,349,193

Fiscal 2008 Highlights

Drive the Future with Fisker Automotive, a New Green American Premium Car Company - Quantum and Fisker Coachbuild, LLC launched a joint venture in Fisker Automotive, Inc. -- a green American premium car company. Fisker Automotive will offer a range of environmentally friendly premium cars. Design and technology development are already underway for the first production car. All models will feature cutting-edge plug-in hybrid technology penned as Q-Drive, developed by Quantum Technologies exclusively for Fisker Automotive. This all-new plug-in Q-Drive chassis layout will allow Fisker to design innovative luxury cars with uncompromised proportions as well as the sought after performance so often missing in other eco-friendly automobiles.

Quantum's Fisker Automotive Joint Venture Released First Images of Plug-In Hybrid Four-Door Premium Sports Sedan - Quantum released a preview of the first production vehicle to be launched from Fisker Automotive, Inc. Fisker Automotive, Inc. is a joint venture between Quantum and Fisker, and will offer a range of environmentally friendly premium cars. Initial deliveries are anticipated to commence in the 4th quarter of 2009, with annual production projected to reach 15,000 units.

Quantum's Fisker Automotive Joint Venture Launched the New Fisker Premium Hybrid at the North American International Auto Show - Quantum's Fisker Automotive, Inc. joint venture launched the Fisker Hybrid at the North American International Auto Show (NAIAS) in Detroit, MI in January 2008. The Fisker Hybrid sedan was showcased in two locations at NAIAS, with a solar energy-based re-charging station, developed by Quantum in conjunction with its German solar energy partner, Asola Advanced and Automotive Solar Systems GmbH. The 2010 Fisker Hybrid is a 4-door premium sports sedan, positioned to meet the increasing demand for 'green vehicles' in the luxury automotive market segment. Quantum will supply its proprietary Q-Drive high-performance plug-in-hybrid electric vehicle architecture for the current Fisker Hybrid sedan as well as all future Fisker models. The Q-Drive plug-in hybrid electric drive system is designed to achieve fifty (50) miles of zero emission, battery-only range while providing combined gasoline-electric hybrid operation to enable uncompromised vehicle range and performance. The Q-Drive system will be integrated into a unique chassis developed by Quantum that will enable performance optimization and vehicle dynamics. Benefits of the Q-Drive system include optimized fuel efficiency and superior performance, unchanged gas station infrastructure, and home-based battery recharging with any 110-volt outlet or, as an option, 220/240-volt fast-charging using Quantum's solar energy powered re-charging station.

Quantum Awarded $14.5 Million in Development Programs to Advance and Integrate Q-Drive System for Fisker Automotive - Quantum received $14.5 million in programs from Fisker Automotive, Inc. to advance and integrate Quantum's proprietary high-performance plug-in-hybrid electric vehicle ('PHEV') architecture for the Fisker Karma four-door sport sedan production model.

Quantum to Supply Modular Hydrogen Refueling Station to Shell Hydrogen - Quantum was awarded a contract from Shell Hydrogen, LLC for a modular hydrogen refueling station. The unit will be sited by Shell Hydrogen at a yet to be determined location within the United States.

Quantum Teams with Boeing to Advance Hydrogen Storage Technologies; Selected for $5.6 Million Award from the United States Department of Energy - Quantum's proposal to the United States Department of Energy (DOE) was selected for final negotiations for a contract to develop next-generation manufacturing technologies for hydrogen storage vessels. The total value of this project, which will be done in partnership with The Boeing Company, is $5.6 million over a period of three years.

Quantum Awarded Contract to Develop Diesel Hybrid Electric Vehicles for United States Army - Quantum was awarded a contract to develop a diesel hybrid electric version of its Alternative Mobility Vehicle (AMV) 'Aggressor.' This program is a follow on to Quantum's successful 'Aggressor' vehicle, a high performance light-duty off-road fuel cell hybrid vehicle developed for the United States Army's Tank Automotive Research, Development and Engineering Center (TARDEC), National Automotive Center (NAC). The contract has a total value of $4.9 million. The objective of this program is to develop a second-generation high-performance light-duty off-road hybrid electric vehicle platform based on the results of and feedback from the United States Army's testing and evaluation of the Aggressor. The propulsion system for this next phase of AMV development will focus on a JP-8 fuel-compatible diesel internal combustion engine based, battery dominant, series hybrid electric system, which would provide a cost-effective, near-term solution as fuel cell technology matures.

Quantum's Hydrogen Vehicles Featured at Norsk Hydro's First Hydrogen Refueling Station - Quantum announced the delivery of Quantum's hydrogen hybrid Priuses to the grand opening of Norsk Hydro's first hydrogen refueling station. Norsk Hydro's first hydrogen refueling station is located outside the company's research center at Heroya, Porsgrunn, Norway. It was officially opened on June 12, 2007 by State Secretary Steinulf Tungesvik of the Norwegian Ministry of Transport and Communications and Norsk Hydro's President and CEO Eivind Reiten.

Quantum Supplies Hydrogen Vehicles to Iceland's SMART-H2 Project - Quantum was awarded a contract to supply ten hydrogen hybrid Priuses to VistOrka for use in Iceland's SMART-H2 project. The SMART-H2 (Sustainable Marine and Road Transport -- Hydrogen in Iceland) project is a supported market introduction where participants impose various demands on hydrogen technology in a variety of market applications. VistOrka's role in SMART-H2 includes leading the steering committee for the project, financing its management, subsidizing hydrogen vehicles, and providing support to follow up all parts of the project. The SMART-H2 will be one of the largest hydrogen demonstrations in the world

Quantum Supplies Transportable Hydrogen Refueling Stations to General Motors - Quantum supplied three transportable hydrogen refueling stations to General Motors. These units will be used to refuel GM's fuel cell vehicles, which are equipped with Quantum hydrogen fuel systems, at various locations, from vehicle proving grounds and public ride-and-drive events to fleet demonstrations.

Quantum Received Order for Hydrogen Hybrid Vehicles for United States Army - Quantum received an order for six hydrogen hybrid vehicles for the United States Army's Tank Automotive Research, Development and Engineering Center (TARDEC). The contract will be administered by Aerospace Engineering Spectrum (AES), based in Ogden, Utah.

Quantum Acquires 25% Stake in German Solar Company - Quantum completed the acquisition of a 25% equity stake in Asola Advanced and Automotive Solar Systems GmbH ('Asola'), a leading German solar energy technology company that develops and manufactures high quality and high-efficiency photovoltaic modules for a number of innovative applications, including commercial, residential and automotive. Based on existing orders and capacity, Asola anticipates 2008 revenues in excess of 50 million Euros while generating strong profit margins. Currently, Asola's order backlog extends for several years, building on the long-term solar cell supply agreement that Asola and Quantum entered into with prominent German solar cell manufacturer Ersol.

Quantum and German Solar Partner Asola Entered into 155 MW Solar Cell Supply Agreement with Ersol Group AG - Quantum's German solar strategic partner, Asola, signed a ten-year supply contract with Ersol Solar Energy AG for the procurement of 155 MWs of high-efficiency silicon photovoltaic solar cells, starting in 2008. The potential revenue associated with the purchased Ersol cells is estimated to exceed US $0.5 Billion.

Quantum and German Solar Partner Asola Awarded $135 Million Contract to Supply Solar Modules - Asola was awarded a contract by AS Solar GmbH for the supply of high-efficiency silicon photovoltaic solar modules. The value of this contract is estimated at $135 million over a three year period, beginning in 2008, and subject to final negotiations on quantity and price in 2009 and 2010. Asola will supply its state-of-the-art 270 Watt and 230 Watt modules to AS Solar for installations primarily in Spain. AS Solar is a leading German integrated solar energy systems company with a strategic focus on Germany, Italy, and Spain.

Quantum and German Solar Partner Asola Awarded $20 Million Contract by a Leading European Solar System Integrator - Asola won a $20 million contract from Krannich Solar, for the supply of high-efficiency silicon photovoltaic solar modules. Krannich Solar (one of the largest solar system providers in Europe) will take delivery of Asola's high quality products in 2008.

Quantum and Asola to Triple Plant Capacity for Solar Modules in Germany to Meet Increasing Demand - Asola is expanding its annual solar module manufacturing capacity to 45 MW (megawatts peak power), in response to increasing demand for photovoltaic power systems in Europe. Asola has successfully secured financing for this expansion, and plans to commission the new state of the art facility by fall 2008.

Quantum's Advanced Hydrogen Storage Technology Supports Challenge X Vehicles Exhibited at EVS 23 - Quantum supplied its advanced hydrogen storage systems to three of the participating teams, as well as providing technical support, safety training, and system commissioning. Quantum's Advanced Vehicle Concept Center in Lake Forest, California also served as a staging and inspection site for Challenge X teams participating in the 23rd International Electric Vehicle Symposium (EVS-23).

Quantum Received an Order to Expand Hydrogen Hybrid Vehicle Fleet for United States Army - Quantum received an order for four additional Ford Escape Hydrogen Hybrid vehicles for the United States Army's Tank Automotive Research, Development and Engineering Center (TARDEC). The contract will be administered by Aerospace Engineering Spectrum (AES), based in Ogden, Utah.

Quantum Signs Strategic Agreement for Distribution of Alternative Fuel Systems in India - Quantum has signed an agreement for the marketing, sales, and distribution in India of its leading alternative fuel vehicle products and systems for compressed natural gas (CNG), blends of natural gas and hydrogen, and liquid petroleum gas (LPG).

    Financial Results Call Scheduled:
    Monday, June 30, 2008 1:30 p.m. Pacific time (4:30 p.m. Eastern time)
    Conference Call Number:  (706) 643-3625, ID #53823470

Participants should call this number 10 minutes prior to the starting time. An operator will check your name and organization. You will be asked to wait until the call begins.

For those of you unable to join us for this earnings and year end call, a playback of this call will be available via telephone approximately two hours after the call until July 15, 2008 at 1:30 p.m. PDT. The number for this service is (800) 642-1687 or (706) 645-9291. The call will also be available on the Company's Investor Relations web page by July 15, 2008: http://www.qtww.com/about/investor_information/conference_calls/index.php as well as its investor relations counsel's webpage http://www.redchip.com.

For assistance, please call Elaine Lovre at (206) 315-8242.

About Quantum:

Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.

Quantum has also formed a new company with Fisker Coachbuild, LLC, which is called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as 'Q-Drive', into a unique chassis that will enable optimizing the performance and vehicle dynamics.

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

Quantum is a member of the Russell 3000(R) and Russell 2000(R) indexes.

Forward-Looking Statements:

Statements in this document regarding future financial and operating results, future growth in customers and development programs, the development and commercialization of fuel cell vehicles and hybrids, solar opportunities, new or expanded customer contracts, the production schedule and program timing of OEMs and other entities, future opportunities for Quantum, the disposal of Tecstar and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including but not limited to statements containing the words 'will,' 'believes,' 'plans,' 'anticipates,' 'expects,' 'estimates,' and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: variations in pricing, engineering and material costs, development costs, other general costs and expenses; our ability to successfully transition into new OEM-level programs and other new model platforms with our OEM customers; costs and potential litigation associated with our acquisitions or the disposal of Tecstar; the ability to retain key personnel; the Company's ability to successfully execute its business strategies; growth of the alternative fuel, fuel cell and hybrid vehicle markets; the levels of commitment by OEMs, governments and other entities to the commercialization of hybrid, fuel cell and alternative fuel technologies; the timing of new vehicle introductions by our OEM customers; our dependence on a concentrated number of customers for a substantial majority of our revenues; the timing of product cycles for our OEM customers; delays in the development of a commercial market for our products; our reliance on a limited number of suppliers for raw materials used in our products; shortages of raw materials; competitive conditions in the industry; business cycles affecting the markets in which the Company conducts business; government support and funding of hydrogen initiatives; and economic conditions generally. Additional factors may be found in Quantum's Form 10-K for the year ended April 30, 2008 and in the other documents filed by Quantum with the Securities and Exchange Commission.

Forward-looking statements are based on the beliefs, opinions, and expectations of the Company's management as of the date of this press release, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.

     For more information regarding Quantum, please contact:

     Dale Rasmussen
     Investor Relations
     +1-206-315-8242
     Email: drasmussen@qtww.com

     Investor and Public Relations:
     Sanford Diday
     RedChip Companies, Inc.
     +1-407-644-4256 X115

          (C)2008 Quantum Fuel Systems Technologies Worldwide, Inc.
                          Advanced Technology Center
                   17872 Cartwright Road, Irvine, CA 92614
                   Phone 949-399-4500     Fax 949-399-4600

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Source: PR Newswire (June 30, 2008 - 4:00 PM EDT)

Fisker's Quantum-Powered Luxury Hybrid Sports Sedan Featured in U.K. CAR Magazine

2008-06-27T14:30:00Z

IRVINE, Calif., June 27 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW), today announced that the Quantum-powered Fisker Karma, a high-performance hybrid sports sedan built through a partnership with green automaker, Fisker Automotive, Inc., is featured in the July 2008 edition of the CAR Magazine, a U.K. publication focusing on trends and technology in the automotive industry.

'We're very excited to see the car featured in such a popular publication,' said Alan P. Niedzwiecki, president and CEO of Quantum. 'We continue to see growing interest in the Karma, both from traditional car enthusiasts and eco-conscious drivers around the world.'

The five-page article by Ben Oliver is part of a feature entitled, 'Cars to Save the Car,' and highlights the unique features of the Karma, as designed by the CEO of Fisker Automotive, Henrik Fisker, who formerly designed the Aston Martin's DB9 and BMW's Z8 roadster. The piece details Fisker's success in creating a car that delivers high-speed performance, luxury style, and zero-emissions, all at a reasonable price tag for a luxury sports sedan of US$80,000. The Fisker Karma, as Oliver notes, is one of the first green technology vehicles 'to go on sale in big numbers, at a viable price and to make a major dent on emissions and oil use.'

Quoting Henrik Fisker in the article, Oliver writes: ''Usually, enthusiasts are the first to buy a new car, environmentalists the last. We've united the two. You don't get as much reaction in a cool sports car now; people don't look at you and say 'lucky guy.' That's why you see movie stars in Priuses. People are just amazed and surprised that they can now have a truly sexy environmental car. This is the car they've been waiting for. Consumers are ahead of the car companies' here.''

The car's power comes from Quantum Technologies' innovative Q-Drive, which is a hybrid propulsion system configured with a small gasoline engine used solely to power an electric generator that charges a lithium-ion battery pack. The advanced propulsion system takes the Karma from 0 to 60 mph in 5.8 seconds, reaching speeds in excess of 125 mph. Quantum's Q-Drive technology will provide a base for all future derivatives from Fisker Automotive.

In addition to supplying the Karma's advanced electric drive motor and lithium-ion battery and control systems, Quantum also supplies the car's regenerative braking system, generator, power inverters and the electronics and software systems. Quantum's German engineering partner, Asola, supplies the Karma's rooftop solar panels, which provide an additional power source for the car.

Fisker expects to deliver 100 of the luxury hybrids by the end of 2009 with full production commencing in 2010.

For more information, visit http://www.qtww.com or http://www.fiskerautomotive.com.

About Quantum Fuel Systems Technologies Worldwide, Inc.

Quantum Fuel Systems Technologies Worldwide Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's power-train engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid, plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles as well as modular, transportable, hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners. For more information, visit http://www.qtww.com.

About Fisker Automotive, Inc.

Keeping with the company's mantra of 'Simply World Class,' Fisker Automotive and its retailers will offer a customer experience second to none. All retailers will be housed in eco-friendly facilities and will offer consumers a unique personal approach, including the ability to ask questions via video conference with an expert at Fisker Automotive headquarters and flexible scheduling based on consumer availability.

Fisker Automotive is a privately owned car company with Henrik Fisker serving as the CEO. Fisker Coachbuild, LLC will be the exclusive design house for Fisker Automotive through the entire range of product development. Additional executive team members include Vic Doolan, Board Member FA & Director of Retail Development; Alan Niedzwiecki, CEO Quantum Technologies & Board Member FA; Bernhard Koehler, COO; Thomas Fritz, Director of Engineering; and production design by Alexander Klatt, formerly of BMW and Mark Clarke formerly of Porsche. This experienced team will help Fisker Automotive lead the future and redefine automotive design by creating the ultimate eco-chic car -- cars that marry unparalleled style with environmental consciousness.

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, 2007. 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.

     Contact:

     At the Company:

     Dale Rasmussen
     Quantum Fuel Systems Technologies Worldwide, Inc.
     Investor Relations
     Email:  DRasmussen@qtww.com
     1-206-315-8242

     Investor Relations:

     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP (733-2447, Ext. 115)
     info@redchip.com
     www.redchip.com

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Source: PR Newswire (June 27, 2008 - 9:30 AM EDT)

Quantum Fuel Systems Technologies Worldwide Set to Join Russell 3000 Index and Russell Global Index

2008-06-20T14:30:00Z

IRVINE, Calif., June 20 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW), a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles, is set to join the Russell 3000 Index and the Russell Global Index when Russell Investments reconstitutes its indexes on June 27, 2008, according to a preliminary list of additions posted June 13, 2008 on http://www.russell.com.

Annual reconstitution of Russell's U.S. indices captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000(R) Index or small-cap Russell 2000(R) Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

Alan P. Niedzwiecki, President and CEO of Quantum, commented: 'Being included in the Russell 3000 Index is a great opportunity to increase our visibility within the investment community and supports our viability as a premier provider of advanced energy technologies and solutions.' He went on to say, 'We believe we are on the leading edge of a new automotive age as we move to the electrification of the automobile. As worldwide demand and other pressures on oil, such as an over reliance by developing countries, continues to rise, and as people seek cleaner and more renewable power sources, demand for our hybrid propulsion systems and other alternatives such as Quantum's fuel cell systems technology, will continue to increase.'

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4.4 trillion in assets currently are benchmarked to them. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.

Real-time market analysis on the Russell 3000 and other Russell Indexes is available at http://www.russell.com/Indexes/performance/real_time_market_analysis.asp.

The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched last year.

About Quantum Fuel Systems Technologies Worldwide, Inc.

About Russell

Russell Investments aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $213 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Headquartered in Tacoma, Wash., Russell has principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Seoul, Singapore, Sydney, Tokyo and Toronto.

For more information on Russell indexes, go to http://www.russell.com.

Forward-Looking Statements:

     Contact:

     At the Company:

     Dale Rasmussen
     Investor Relations
     Email:  DRasmussen@qtww.com
     1-206-315-8242

     Investor Relations:

     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP (733-2447, Ext. 115)
     info@redchip.com
     www.redchip.com

          (C)2008 Quantum Fuel Systems Technologies Worldwide, Inc.
                          Advanced Technology Center
                   17872 Cartwright Road, Irvine, CA 92614
                     Phone 949-399-4500  Fax 949-399-4600

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Source: PR Newswire (June 20, 2008 - 9:30 AM EDT)

Quantum Fuel Systems Technologies Worldwide Awarded Contract to Develop Advanced Hybrid Vehicle Powertrains for IISI's Future Steel Vehicle Program with EDAG

2008-06-10T14:31:00Z

IRVINE, Calif., June 10 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) today announced that it was awarded a contract by EDAG Engineering + Design AG (EDAG) to develop advanced hybrid vehicle powertrains for the Future Steel Vehicle program sponsored by WorldAutoSteel, the automotive group of the International Iron and Steel Institute (IISI).

Under this contract, Quantum will design, analyze, and develop hybrid vehicle powertrain architectures, i.e., advanced plug-in hybrid electric vehicles (PHEV) and hydrogen fuel cell hybrid vehicles. Quantum will work with their partner, Advanced Lithium Power Inc. (ALP), to develop the advanced lithium-ion battery system and controls for each of the vehicle architectures.

Future Steel Vehicle will develop lightweight steel auto body concepts that address alternative powertrains, such as advanced hybrid, electric, and fuel cell systems. The goal of the research is the demonstration of safe, structurally efficient steel bodies for future vehicles that reduce GHG (green house gas) emissions over the entire life cycle, it demonstrates steel as the material of choice for alternative fuel architectures and positions the steel industry as a key resource for cost-effective structures and opportunities for packaging of alternative propulsion systems. EDAG, with expertise in product and manufacturing engineering using Advanced High Strength Steel (AHSS) for automotive sheet metal structures, as well as body and closure design, was awarded the program by IISI. EDAG, headquartered in Fulda, Germany, is the world's largest independent engineering development partner to the international mobility industry. Quantum is a member of EDAG's winning team and will develop the alternative powertrain systems for the Future Steel Vehicle project.

'Demand for Quantum's innovative hybrid electric powertrain designs and experience in taking alternative propulsion system concepts into production continues to grow worldwide. We look forward to working with EDAG and IISI-WorldAutoSteel on this exciting integration of advanced lightweight vehicle structures with our advanced hybrid powertrains,' said Alan P. Niedzwiecki, President and CEO of Quantum. 'With oil prices above $130.00 a barrel and the national average of a gallon of gas exceeding $4.00 a gallon, there is growing demand worldwide for energy efficient transportation. IISI's vision for the development of a Future Steel Vehicle clearly addresses this need.'

About Quantum:

Quantum has also formed a new company with Fisker Coachbuild, LLC, which is called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as 'Q-Drive,' into a unique chassis that will enable optimizing the performance and vehicle dynamics.

More information can be found about Quantum's products and services at http://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, 2007. 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.

     For more information regarding Quantum, please contact:

     Dale Rasmussen
     Investor Relations
     Email:  DRasmussen@qtww.com
     +1-206-315-8242

     Investor Relations:

     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP (733-2447, Ext. 115)
     info@redchip.com
     www.redchip.com


          (C)2008 Quantum Fuel Systems Technologies Worldwide, Inc.
                          Advanced Technology Center
                   17872 Cartwright Road, Irvine, CA 92614
                     Phone 949-399-4500  Fax 949-399-4600

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Source: PR Newswire (June 10, 2008 - 9:31 AM EDT)

Quantum and Asola Awarded $17 Million Solar Module Supply Contract by a Leading German Solar System Supplier

2008-05-27T14:30:00Z

IRVINE, Calif., May 27 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) today announced that its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, has won a $17 million contract from Sunworx GmbH, for the supply of high-efficiency silicon photovoltaic solar modules. Sunworx, which is one of the leading solar system suppliers in Germany, will take delivery of these modules in 2008.

'Sunworx is notable for their innovative solutions, consistent growth and long-term business success. Asola is pleased to partner with this dynamic company, as they share our passion for the highest quality and reliability,' said Asola's founder and CEO, Reinhard Wecker.

Quantum and Asola have recently announced tripling of solar module production capacity in Germany, by fall 2008. Quantum holds a 25% stake in Asola, and is in discussions towards an expanded partnership. Asola and Quantum have entered into a long-term supply agreement with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells, starting in 2008. The Ersol agreement and additional supply contracts with other leading suppliers such as MOTECH and Sunergy guarantee a steady supply of solar cells to Quantum and Asola, thereby avoiding any potential future disruptions due to silicon shortages, as have been recently experienced by the solar cell industry. Resulting sales from these supply agreements are anticipated to generate in excess of US $600 million for Asola and Quantum.

'Demand for peak power is growing at twice the rate as the overall electricity market,' commented Alan P. Niedzwiecki, President and CEO of Quantum. 'Solar systems are ideally suited to meet local peak power demands, and are increasingly favored by major utility companies to meet their renewable energy portfolio requirements. We believe that Quantum and Asola are well-positioned to meet this demand in Europe as well as to capitalize on the opportunities in California and the rest of North America.'

About Quantum:

Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to- market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.

Quantum has co-founded a 'green American car company' called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as 'Q-Drive,' into a unique chassis that will enable optimizing the performance and vehicle dynamics. 'Fisker Karma' launched at the Detroit International Auto Show in January, 2008, incorporates an advanced solar-photovoltaic roof designed by Asola. More information is available at http://www.fiskerautomotive.com.

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

About Asola:

Asola Advanced and Automotive Solar Systems GmbH produces and markets high-quality silicon-based photovoltaic modules that comprise 4, 5, 6, or 6+ mono-crystalline or polycrystalline silicon cells. Asola's technologies include high output and high efficiency flat modules for residential and industrial applications, specialized spherical modules for automotive applications and modules for various thin film technologies. More information can be found in http://www.asola-power.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 Asola and Quantum; Asola's ability to secure solar cells and 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, Asola's ability to expand production, the overall expansion of the solar industry, and general economic conditions. 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, 2007. 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.

    For more information regarding Quantum, please contact:

     At the Company:
     Dale Rasmussen
     Investor Relations
     DRasmussen@qtww.com
     1-206-315-8242

     Dr. Neel Sirosh
     Chief Technology Officer
     NSirosh@qtww.com
     1-949-399-4698

     Investor Relations:
     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP (733-2447, Ext. 115)
     info@redchip.com
     www.redchip.com

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Source: PR Newswire (May 27, 2008 - 9:30 AM EDT)

Quantum and Asola to Triple Plant Capacity for Solar Modules in Germany to Meet Increasing Demand

2008-05-20T14:30:00Z

IRVINE, Calif., May 20 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) today announced that its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, is expanding its annual solar module manufacturing capacity to 45 MW (megawatts peak power), in response to increasing demand for photovoltaic power systems in Europe. Asola has successfully secured financing for this expansion, and plans to commission the new, state of the art facility by fall 2008.

Quantum holds a 25% stake in Asola, and has initiated discussions related to an expanded partnership. Quantum and Asola have entered into a long-term supply agreement with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells, starting in 2008. Together with supply contracts with other major suppliers around the world (i.e. MOTECH, Sunergy and others), the Ersol agreement guarantees a steady supply of solar cells to Quantum and Asola, thereby avoiding any potential future disruptions due to crystalline silicon shortages, as have been recently experienced by the solar cell industry. Resulting sales from these supply agreements are anticipated to generate in excess of US $600 million for Asola and Quantum.

'Electricity buy back guarantee programs continue to expand the market for high quality solar photovoltaic power systems in Europe', commented Alan P. Niedzwiecki, President and CEO of Quantum. 'We are excited to be in this vibrant market place, and pleased by the customer-loyalty and appreciation for Asola's technology leadership, reliability and highest manufacturing quality.'

'Asola is pleased to kick off this much needed expansion project in partnership with Quantum,' said Asola's founder and CEO, Reinhard Wecker. 'We are thankful to our bank, local and federal government agencies, key customers and suppliers for their collaboration and support for this project. Our expanded capacity will allow us to serve new and existing customers who are demanding increasing quantities of high quality solar photovoltaic products to ensure reliable electricity production during peak demand hours'.

About Quantum:

Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.

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

About Asola:

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 Asola and Quantum; Asola's ability to secure solar cells and 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, Asola's ability to expand production, the overall expansion of the solar industry, and general economic conditions. 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, 2007. 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.

    For more information regarding Quantum, please  contact:

    At the Company:
    Dale Rasmussen
    Investor Relations
    DRasmussen@qtww.com
    1-206-315-8242

    Dr. Neel Sirosh
    Chief Technology Officer
    NSirosh@qtww.com
    1-949-399-4698

    Investor Relations:
    RedChip Companies, Inc.
    Sanford Diday
    1-800-REDCHIP (733-2447, Ext.  115)
    info@redchip.com
    www.redchip.com


    (C)2008 Quantum Fuel Systems Technologies Worldwide, Inc.

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Source: PR Newswire (May 20, 2008 - 9:30 AM EDT)

Fisker Automotive Announces First European Importer and Scope of North American Retail Network

2008-04-10T14:02:00Z

Premium American Green Car Company Announces Appointment of Fisker Italia and Planned Export Production

IRVINE, Calif., April 10 /PRNewswire/ -- Fisker Automotive, Inc., a green American premium car company, today announced Fisker Italia as its first International importer. With plans to allocate more than 50 percent of its production to overseas sales, Fisker Automotive is poised to become a leading exporter of premium U.S. automobiles. Additionally, Fisker Automotive, maker of the first of its kind plug-in hybrid premium sports sedan, further announced it has received great interest from 44 North American markets in which it hopes to have retail representation

'We are thrilled at the interest Fisker Automotive is receiving in North America and particularly abroad,' said Fisker Automotive Board Member and Director of Retail Development, Vic Doolan. 'Fisker Italia is an elite international importer, and they demonstrate the resounding demand for 'style without sacrifice' we are receiving in both North American retail markets and abroad.'

'We at Fisker Italia believe in the philosophy, management team and vehicles that Fisker Automotive has put together,' said Franco Pizzuto, CEO Fisker Italia. 'We are honored to be the first European dealer announced in this very important movement.'

About Fisker Automotive, Inc.

Keeping with the company's mantra of 'Simply World Class', Fisker Automotive and its retailers will offer a customer experience second to none. All retailers will be housed in eco-friendly facilities and will offer consumers a unique personal approach, including the ability to ask questions via video conference with an expert at Fisker Automotive headquarters and flexible scheduling based on consumer availability.

Fisker Automotive is a privately owned car company with Henrik Fisker serving as the CEO. Fisker Coachbuild, LLC will be the exclusive design house for Fisker Automotive through the entire range of product development. Fisker Automotive is a Joint Venture between Quantum Technologies (Nasdaq: QTWW) and Fisker Coachbuild, LLC. The majority of funding was received from Kleiner Perkins Caufield & Byers and Palo Alto Investors.

Fisker Automotive will offer its range of cars worldwide with first deliveries starting in North America in the 4th quarter of 2009.

     Contact:

     At the Company:

     Dale Rasmussen
     Investor Relations
     Email:  DRasmussen@qtww.com
     1-206-315-8242

     Investor Relations:

     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP (733-2447, Ext. 115)
     info@redchip.com
     www.redchip.com

SOURCE Fisker Automotive, Inc.

A Whole New Breed of Hybrid: High-Performance Fisker Karma Featured in Robb Report

2008-04-09T13:30:00Z

IRVINE, Calif., April 9, 2008 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW), today announced that the Quantum-powered Fisker Karma, a high-performance hybrid sports sedan built through a partnership with Fisker Automotive, is featured in the April 2008 edition of the Robb Report Collection.

The article highlights the breakthrough 'eco-chic' hybrid design from renowned Danish designer Henrik Fisker that runs on Quantum Technologies' 'Q-Drive' -- a fully electric-powered system that offers zero-emissions, no compromise on power, and achieves 100 miles per gallon.

The innovative Q-Drive is a hybrid propulsion system configured with a small gasoline engine used solely to power an electric generator that charges a lithium-ion battery pack. The advanced propulsion system can take the Karma from 0 to 60 mph in 5.8 seconds, reaching speeds in excess of 125 mph.

Quantum's Q-Drive technology will provide a base for all future derivatives from Fisker Automotive and moves Quantum one-step closer to its goal of becoming the premier, fully integrated alternative energy company. In addition to supplying the Q-Drive, each Fisker Karma will incorporate Quantum-Asola's solar roof, produced through Quantum's partner, the German-based solar module manufacturer, Asola.

Fisker expects to deliver 100 of the luxury hybrids by the end of 2009 with full production commencing in 2010. For more information, visit http://www.qtww.com or http://www.fiskerautomotive.com.

About Quantum Fuel Systems Technologies Worldwide, Inc.

About Fisker Automotive, Inc.

Fisker Automotive is a privately owned car company with Henrik Fisker serving as the CEO. Fisker Coachbuild, LLC will be the exclusive design house for Fisker Automotive through the entire range of product development. Additional executive team members include Vic Doolan, Board Member FA & Director of Retail Development; Alan Niedzwiecki, CEO Quantum Technologies & Board Member FA; Bernhard Koehler, COO; Thomas Fritz, Director of Engineering; and production design by Alexander Klatt, formerly of BMW and Mark Clarke formerly of Porsche. This experienced team will help Fisker Automotive lead the future and redefine automotive design by creating the ultimate eco-chic car-cars that marry unparalleled style with environmental consciousness.

     Contact:

     At the Company:

     Dale Rasmussen
     Quantum Fuel Systems Technologies Worldwide, Inc.
     Investor Relations
     Email:  DRasmussen@qtww.com
     1-206-315-8242

     Investor Relations:

     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP (733-2447, Ext. 115)
     info@redchip.com
     www.redchip.com

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Quantum Teams with Boeing to Advance Hydrogen Storage Technologies; Selected for $5.6 Million Award from the U.S. Department of Energy

2008-03-31T14:06:00Z

IRVINE, Calif., March 31 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) today announced that its proposal to the U.S. Department of Energy (DOE) has been selected for final negotiations for a contract to develop next-generation manufacturing technologies for hydrogen storage vessels. The total value of this project, which will be done in partnership with The Boeing Company (NYSE: BA), is $5.6 million over a period of 3 years.

The goal of this project is to leverage the considerable advances in precision composite material processing technologies in the aerospace sector, to develop innovative manufacturing techniques for hydrogen storage tanks, with the intent to significantly drive down costs. The specific objective is to develop and demonstrate an innovative hybrid process which integrates the most optimal features of high precision aerospace and high-speed commercial manufacturing techniques.

Boeing has steadily established itself as a global leader in advanced composite manufacturing technologies, which utilize lightweight, high-precision composite structures for tremendous performance advantage. Quantum's hydrogen storage systems utilize carbon-fiber reinforced composite structures for volumetric and gravimetric efficiency.

As the prime contractor, Quantum will provide overall coordination and leverage its extensive experience in hydrogen systems. Boeing Phantom Works, the company's advanced research and development organization, will adapt precision composite manufacturing technologies that it developed for the aerospace industry. The Quantum-Boeing team has partnered with the Lawrence Livermore National Laboratory (LNNL) and the Pacific Northwest National Laboratory (PNNL), to enhance and expand this development program. LLNL will develop a unique high speed composite processing technique, which will be modeled validated by PNNL. The program will highly leverage on the existing expertise of the team members, and will be executed in three phases, starting in 2008.

'Quantum is honored to partner with Boeing on this strategically important program. We are pleased by the comment from the DOE that the Quantum-Boeing team represents a best-of-the-industry partnership,' said Quantum's President and CEO, Alan Niedzwiecki. 'Quantum, working in concert with the DOE, was the first to develop and certify a high capacity 10,000 psi hydrogen system, which has evolved as the industry standard, supporting a number of hydrogen vehicle programs today. This important program will take hydrogen storage technology one step closer to mass-commercialization.'

About Quantum:

Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.

Quantum has also formed a new company with Fisker Coachbuild, LLC, which is called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as 'Q-Drive,' into a unique chassis that will enable optimizing the performance and vehicle dynamics.

More information can be found about Quantum's products and services at http://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; Quantum's ability to finalize the agreement and fulfill the requirements of this contract; 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, Quantum's ability to coordinate with team partners, secure adequate resources to execute this program, and general economic conditions. 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, 2007. 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.

     For more information regarding Quantum, please contact:

     At the Company:
     Dale Rasmussen
     Investor Relations
     DRasmussen@qtww.com
     1-206-315-8242

     Dr. Neel Sirosh
     Chief Technology Officer
     NSirosh@qtww.com
     1-949-399-4698

     Investor Relations:
     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP
     1-407-644-4256 x 115
     info@redchip.com
     www.redchip.com

          (C)2008 Quantum Fuel Systems Technologies Worldwide, Inc.
                          Advanced Technology Center
                   17872 Cartwright Road, Irvine, CA 92614
                     Phone 949-399-4500  Fax 949-399-4600

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Quantum to Supply Modular Hydrogen Refueling Station to Shell Hydrogen

2008-03-31T11:00:00Z

IRVINE, Calif., March 31 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc., (Nasdaq: QTWW) today announced that it has been awarded a contract from Shell Hydrogen LLC for a modular hydrogen refueling station. The unit will be sited by Shell Hydrogen at a yet to be determined location within the United States.

Quantum will supply one of its modular, portable, and transportable hydrogen refueling stations together with a hydrogen storage cascade. The system incorporates an oil-free gas compression system to deliver hydrogen at high-pressure from the storage cascade. This refueling appliance will provide both 35 MPa (5,000 psi) and 70 MPa (10,000 psi) fill capabilities.

'Quantum's hydrogen refueling stations, integral elements of our alternative energy product portfolio, are cost-effective, just-in-time modular solutions to deliver hydrogen to hydrogen powered vehicles as their demand continues to grow around the world. We are pleased to support Shell Hydrogen in its efforts to establish the foundation of a hydrogen refueling network,' said Alan P. Niedzwiecki, President and CEO. 'Our modular hydrogen refueling stations are designed to support our customers as they advance their hydrogen and fuel cell vehicle initiatives.'

About Quantum:

Quantum has also formed a new company with Fisker Coachbuild, LLC, which is called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as 'Q-Drive,' into a unique chassis that will enable optimizing the performance and vehicle dynamics.

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

Forward Looking Statements

     For more information regarding Quantum, please contact:

     Dale Rasmussen
     Investor Relations
     Email:  DRasmussen@qtww.com
     +1-206-315-8242

     Investor Relations:
     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP
     1-407-644-4256 x 115
     info@redchip.com
     www.redchip.com

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Quantum and German Solar Partner Asola Awarded $20 Million Contract by a Leading European Solar System Integrator

2008-03-26T14:00:00Z

IRVINE, Calif., March 26 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) today announced that its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, has won a $20 million contract from Krannich Solar, for the supply of high-efficiency silicon photovoltaic solar modules. Krannich Solar, which is one of the largest solar system providers in Europe, will take delivery of Asola's high quality products in 2008.

'Asola is pleased to receive this award from Krannich Solar,' commented Asola's founder and CEO, Reinhard Wecker. 'Krannich is a tremendous European company, and home to the major leading brands in the industry. We are honored to join the ranks of world-leading premier solar module manufacturers.'

Quantum has recently announced acquisition of a 25% stake in Asola, and also a long-term supply agreement with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells, starting in 2008. The Ersol agreement guarantees a supply of solar cells to Quantum and Asola, thereby avoiding any potential future disruptions due to polysilicon shortages, as have been recently experienced by the solar cell industry. Resulting sales from the supply agreement with Ersol are anticipated to generate in excess of US $500 million for Asola and Quantum.

'The European solar industry demands the best, and we are pleased by the high confidence shown by our customers in Asola's technology leadership, high reliability and manufacturing quality,' said Alan P. Niedzwiecki, President and CEO of Quantum. 'Demand for Asola's high-quality solar modules continues to grow in the expanding renewable energy markets in Germany, Spain, Italy, and France. We believe that Quantum and Asola are well-positioned to meet this demand in Europe as well as to capitalize on the opportunities in California and the rest of North America.'

About Quantum:

Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.

Quantum has also formed a new company with Fisker Coachbuild, LLC, which is called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as 'Q-Drive,' into a unique chassis that will enable optimizing the performance and vehicle dynamics.

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

About Asola:

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 Asola and Quantum; Asola's ability to secure solar cells and 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, Asola's ability to expand production, the overall expansion of the solar industry, and general economic conditions. 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, 2007. 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.

     For more information regarding Quantum, please contact:

     At the Company:
     Dale Rasmussen
     Investor Relations
     DRasmussen@qtww.com
     1-206-315-8242

     Dr. Neel Sirosh
     Chief Technology Officer
     NSirosh@qtww.com
     1-949-399-4698

     Investor Relations:
     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP
     1-407-644-4256 x 115
     info@redchip.com
     www.redchip.com

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

Quantum Technologies Worldwide Announces Management Stock Purchases

2008-03-20T14:39:00Z

IRVINE, Calif., March 20 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide Inc. (Nasdaq: QTWW) today announced that a majority of its executive management team, including CEO and President Alan Niedzwiecki; CFO Brian Olson; Dale Rasmussen, Chairman of the Board; and other board members, have purchased Quantum Fuel stock and are expected to purchase more stock from time to time in compliance with federal regulations.

'The team and I have purchased these shares to show our confidence in QTWW's new business and operational plans and because we believe the market value of QTWW's shares as seen in the trading price of late is far below anything close to fair value,' Alan Niedzwiecki said.

For more information, investors are directed to the company's filed SEC Form 4's.

About Quantum Fuel Systems Technologies Worldwide Inc.

Forward-Looking Statement:

     Contact:

     At the Company:

     Dale Rasmussen
     Investor Relations
     Email:  DRasmussen@qtww.com
     1-206-315-8242

     Investor Relations:

     RedChip Companies, Inc.
     Sanford Diday
     1-800-REDCHIP (733-2447, Ext. 115)
     info@redchip.com
     www.redchip.com

SOURCE Quantum Fuel Systems Technologies Worldwide Inc.