The purchase orders, valued at about $750,000, are awarded for Quantum’s ultra light weight composite high pressure compressed natural gas (CNG) storage tanks for applications in heavy duty and light duty fleet vehicles.
Quantum president and CEO Alan Niedzwiecki said the expects the revenues from the sale of CNG tanks will nearly double in this year and, combined with the expected Fisker Karma production ramp, we are forecasting 2012 to be a year defined by significant revenue growth.
"The demand for Quantum’s ultra lightweight high capacity CNG storage systems continues to increase as fleets recognize the significant cost saving benefits in operating their vehicles on compressed natural gas," Niedzwiecki said.
Quantum is a fully integrated alternative energy company, and is engaged in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles.
